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OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Their data-driven disclosure standards form the foundation of their three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market. Through their OTC Link® Alternative Trading Systems (ATSs), the company provides critical market infrastructure relied upon by broker-dealers to facilitate trading. This innovative model offers companies more efficient access to the U.S. financial markets.
OTC Markets Group is committed to enhancing market transparency, boosting investor confidence, and improving the efficiency of trading processes. Their recent financial results for Q1 2024 reflect a strong focus on enhancing trading functionality, investor information, and market integrity. The company continues to invest in its people, platforms, and processes to build a more resilient and scalable organization, aligning operating costs with revenue generation to deliver value to shareholders.
Recent achievements include the successful sponsorship of companies like Horizon Copper and Roth CH Acquisition Co., which have commenced trading on the OTCQX Market. These companies benefit from streamlined market standards that allow them to utilize their home market reporting to make their information available to U.S. investors. OTC Markets Group also supports companies, such as Marpai, Inc. and American Oncology Network, Inc., transitioning from Nasdaq to OTCQX, ensuring continued visibility and compliance with high financial standards.
With a focus on creating better informed and more efficient markets, OTC Markets Group continues to evolve and expand its services, building on a foundation of transparency and regulatory compliance. For more information, visit www.otcmarkets.com.
Marpai (Nasdaq: MRAI), an independent national Third-Party Administration (TPA) company, announced its decision to withdraw from Nasdaq and transition to the OTCQX Market. The decision, driven by non-compliance with Nasdaq's minimum stockholders' equity requirement and the high costs of maintaining a Nasdaq listing, aims to help Marpai focus on profitable growth. Trading on Nasdaq will cease on May 29, 2024, with immediate trading commencement on OTCQX under the symbol 'MRAI'. The company believes this move will ensure continued trading visibility while reducing expenses. Shareholders do not need to exchange their shares, and Marpai will remain subject to the U.S. Securities Exchange Act of 1934's reporting requirements.
OTC Markets Group announced that CONX Corp. has qualified to trade on the OTCQX Best Market, starting today under the symbols 'CNXX' and 'CNXXW'. Formerly traded on NASDAQ, CONX Corp. offers U.S. investors current financial disclosures and Real-Time Level 2 quotes on www.otcmarkets.com. The move to OTCQX provides efficient and cost-effective access to U.S. capital markets, with streamlined requirements aimed at reducing the costs and complexity of being publicly traded. Companies on OTCQX must meet high financial standards, adhere to best practice corporate governance, and comply with securities laws.
OTC Markets Group has announced that Direct Selling Acquisition Corp. (DSAQ), a blank check company, has qualified to trade on the OTCQX Best Market. Previously traded on the New York Stock Exchange, DSAQ begins trading today under the symbol DSAQ. The OTCQX Market provides cost-effective and efficient access to U.S. capital markets, offering streamlined requirements to reduce the complexity and cost of being publicly traded. Companies on OTCQX must meet high financial standards, follow best corporate governance practices, and comply with applicable securities laws.
OTC Markets Group has announced that Warpaint London PLC, a branded cosmetics company, has qualified to trade on the OTCQX Best Market, upgrading from the Pink market. Trading on the OTCQX under the symbol 'WPNTF' begins effective immediately. U.S. investors can access current financial disclosures and real-time quotes on otcmarkets.com. The upgrade to OTCQX is aimed at providing transparent trading for U.S. investors. Companies on OTCQX must meet high financial standards, follow best practice corporate governance, and comply with securities laws. Warpaint's CEO, Sam Bazini, believes this will broaden the company’s investor base in the U.S.
OTC Markets Group (OTCQX: OTCM) has introduced OTC Overnight, a new trading session for OTC equity securities available Sunday through Thursday from 8 PM to 4 AM ET. This service will be offered on the OTC Link NQB Alternative Trading System starting in Q2 2024. OTC Overnight will enable trading of thousands of global equity securities, including major brands like Roche, Adidas, Air Canada, and Techtronic Industries, during Asian and European market hours, and overnight in the U.S. The initiative aims to meet increasing global demand and improve market accessibility and data coverage. OTC Markets plans to expand this offering as demand grows.
Neometals (ASX: NMT; OTCQX: NMTAY) has upgraded from the Pink market to the OTCQX Best Market. This transition aims to provide U.S. investors with better transparency and increased market exposure. By trading on OTCQX, Neometals adheres to high financial standards and corporate governance practices, facilitating greater visibility and liquidity in the U.S. market. The move allows Neometals' American Depositary Receipts (ADRs) to be recommended in 40 U.S. states. Neometals focuses on sustainable processing technologies for recycling and recovering critical materials from high-value waste streams.
OTC Markets Group (OTCQX: OTCM) announced that Butler National (OTCQX: BUKS), operating in Aerospace and Professional Services, has upgraded to the OTCQX Best Market from OTCQB Venture Market, starting May 15, 2024. This upgrade signifies Butler National's adherence to high financial standards, corporate governance, and compliance with securities laws. The OTCQX Market offers a premium U.S. public platform for investors to research and trade shares, enhancing Butler National's visibility among U.S. investors. Investors can access financial disclosures and real-time quotes on www.otcmarkets.com.
OTC Markets Group Inc. (OTCQX: OTCM) announced that ClearVue Technologies (ASX: CPV; OTCQX: CVUEF), a smart building materials company, has upgraded to the OTCQX® Best Market from the OTCQB® Venture Market. The company begins trading today under the symbol 'CVUEF'. This transition marks a significant milestone, showcasing ClearVue's compliance with high financial standards and corporate governance. The upgrade aligns with ClearVue's strategic focus on the U.S. market, especially due to recent U.S. policy incentives for decarbonization in construction. The company aims to introduce its products at the AIA24 Conference in Washington, D.C., in June 2024.
OTC Markets Group announced that BioLargo, Inc. has qualified to trade on the OTCQX Best Market, upgrading from the OTCQB Venture Market. BioLargo, Inc. will now trade under the symbol 'BLGO,' providing U.S. investors access to financial disclosures and real-time quotes on www.otcmarkets.com. The move signifies BioLargo's commitment to high financial standards and best practice corporate governance.
OTC Markets Group reported financial results for the first quarter of 2024, with gross revenues of $27.7 million, down 1% from the prior year. Operating income was $6.7 million, a 3% decrease. The company announced a dividend of $0.18 per share and a stock buyback program.
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