Autoscope Technologies Corporation Begins Trading on the OTCQX Market
Autoscope Technologies Corporation (OTCQX: AATC) has transitioned to trading on the OTCQX Best Market from NASDAQ as of February 10, 2023. This shift aims to provide the company with more efficient access to capital markets while reducing costs associated with public trading. The OTCQX requirements ensure companies meet specific financial and governance standards, which Autoscope intends to adhere to by reporting quarterly and annual financials. According to Interim CEO Frank Hallowell, this move is expected to benefit shareholders by allowing management to focus on growth and operational efficiency.
- Transitioning to OTCQX reduces trading costs.
- Streamlined market requirements enhance operational focus.
- Intention to report quarterly and annual financial statements increases transparency.
- None.
MINNEAPOLIS, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Autoscope Technologies Corporation (OTCQX: AATC) today announced that they have qualified to trade on the OTCQX Best Market. Autoscope Technologies Corporation previously traded on NASDAQ.
Autoscope Technologies Corporation begins trading today on OTCQX under the symbol “AATC.” U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
Trading on the OTCQX Market offers companies efficient, cost-effective access to the U.S. capital markets. Streamlined market requirements for OTCQX are designed to help companies lower the cost and complexity of being publicly traded, while providing transparent trading for their investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Autoscope Technologies Corporation intends to report quarterly unaudited and annual audited financial statements in addition to any relevant current events.
“We are excited to commence trading on the OTCQX Market,” said Frank Hallowell, Interim Chief Executive Officer for Autoscope Technologies Corporation. “The decision to start trading on the OTCQX Market should result in a benefit to the Company’s shareholders by reducing the expenses and permitting management to focus on operating and growing the company. We are focused on delivering shareholder value and look forward to offering investors the opportunity to invest strategically in technology and engineering companies.”
About Autoscope Technologies Corporation
Autoscope Technologies Corporation is a global company dedicated to helping improve safety and efficiency for cities and highways by developing and delivering above-ground detection technology, applications and solutions. We give Intelligent Transportation Systems (ITS) professionals more precise and accurate information – including real-time reaction capabilities and in-depth analytics – to make more confident and proactive decisions. We are headquartered in Minneapolis, Minnesota. Visit us on the web at autoscope.com.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.
Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.
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Safe Harbor Statement: Statements made in this release concerning the Company’s or management’s intentions, expectations, or predictions about future results or events are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements reflect management’s current expectations or beliefs and are subject to risks and uncertainties that could cause actual results or events to vary from stated expectations, which variations could be material and adverse. Factors that could produce such a variation include, but are not limited to, the following: the inherent unreliability of earnings, revenue and cash flow predictions due to numerous factors, many of which are beyond the Company’s control; developments in the demand for the Company’s products and services; relationships with the Company’s major customers and suppliers; the mix of and margins on the products we sell; unanticipated delays, costs and expenses inherent in the development and marketing of new products and services; adverse weather conditions in our markets; the impact of governmental laws, regulations, and orders, including as a result of the COVID-19 pandemic caused by the coronavirus; international presence; tariffs and other trade barriers; our success in integrating any acquisitions; potential disruptions to our supply chains (including disruptions caused by geopolitical events, military actions, work stoppages, nature disasters, or international health emergencies, such as the COVID-19 pandemic); and competitive factors. Our forward-looking statements speak only as of the time made, and we assume no obligation to publicly update any such statements. Additional information concerning these and other factors that could cause actual results and events to differ materially from the Company’s current expectations are contained in the Company’s reports and other documents filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2021 filed on March 22, 2022.
| Contact: | Frank Hallowell, Interim Chief Executive Officer, Chief Financial Officer |
| Phone: 612.438.2363 |
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