NORTHVALE, NJ / ACCESSWIRE / April 19, 2018 / ADM Tronics Unlimited, Inc. (OTCQB: ADMT) announced today that OTC Markets has identified ADMT as "Penny Stock Exempt - This security is not a Penny Stock as defined in SEC Rule 240.3a51.1".
OTC Markets defines Penny Stock Exempt as: "This security is exempt from the definition of a Penny Stock under SEC under Rule 240.3a51-1 because it meets one of the following tests: 1) A price of over $5 per share, 2) the issuer has Average Revenue of at least $6 million for the last 3 years, or 3) the issuer has Net Tangible Assets in excess of $2 million if the issuer has been in continuous operations for at least 3 years or $5 million if less than 3 years."
The OTC Markets discloses on its website, "Penny Stock Rule is designed to prevent deceptive or manipulative practices. It provides that a broker cannot sell a Penny Stock to any person unless it has approved that person's account for penny stock transactions and the broker/dealer has received in writing from customer agreement to the transaction."
"We are very pleased that OTC Markets has identified our company as being exempt from the Penny Stock designation on the OTCQB market," stated Andre' DiMino, President of ADMT. "This exemption now allows national broker/dealers the ability to freely recommend our common stock to their clients. We are hopeful our exemption can bring forth greater interest in ADMT."
You can view the Penny Stock Exempt designation at the ADMT listing on the OTCQB at the following link: https://www.otcmarkets.com/stock/ADMT/quote
ADMT is a diversified, technology-based developer and manufacturer of innovative technologies and products. Its core competency is its ability to conceptualize a technology, bring it through development, into manufacturing and commercialization, all in-house. ADMT has three areas of activity: Medical Device Design, Engineering, Regulatory and Manufacturing Services; Proprietary Electronic Medical Devices; and Eco-Friendly, Water-Based Formulations. ADMT's multi-disciplinary team of engineers, researchers and technologists utilize advanced technology infrastructure, such as 3-D prototyping, precision instrumentation and specialized software and peripherals, for the research, development and commercialization of diversified technologies. Additional information is available at the Company's websites - admtronics.com and concepttoquantity.com.
Except for historical information contained herein, the matters set forth in this news release are "forward looking" statements (as defined in the Private Securities Litigation Reform Act of 1995), including statements regarding future revenue growth and performance. Although ADMT believes the expectations reflected in such forward looking statements are based upon reasonable assumptions, there can be no assurance that its expectations will be realized. Forward looking statements involve risks and uncertainties that could cause actual results to differ materially from expectations. Factors that could contribute to such differences include those described from time to time in ADMT's filings with the SEC, news releases and other communications. The Company assumes no obligation to update the information contained in this news release.
Contact: Andre' DiMino 201-767-6040, firstname.lastname@example.org
SOURCE: ADM Tronics Unlimited, Inc.