Radiant CEO Comments on Shift to OTCQB for Company’s Stock Quotations
BELLEVUE, Wash., Feb. 24, 2011 — Radiant Logistics, Inc. (OTC QB: RLGT), CEO Bohn Crain today commented on the shift in the Company’s stock quotation coverage which recently transitioned from the OTC Bulletin Board to the OTCQB under the symbol “RLGT.” The OTCQB is one of three tiers established by OTC Markets Group, Inc. which operates one of the world’s largest electronic interdealer quotation systems for broker-dealers to trade unlisted securities. The OTCQB designation is meant to identify companies that are reporting with the SEC or a U.S. banking regulator, making it easy for investors to identify companies that are current in their reporting obligations.
“The shift in coverage to the OTCQB was caused by an unexpected migration of the Company’s market makers away from the OTCBB, and does not affect, nor is it a reflection upon, the Company’s business, operations or prospects, which remain strong and in line with expected and current trends,” said Bohn Crain, Chairman and CEO. “Furthermore, as this shift just occurred, it is too early for us to determine whether this will have any positive impact on our trading price or market liquidity.”
Crain concluded, “The transition to the OTCQB does not affect the Company’s business or its status as a public reporting company under the Securities Exchange Act of 1934. The Company intends to closely monitor the situation as it evaluates its alternatives; determining whether to remain listed for quotation on the OTCQB, seek to resume quotation on the OTCBB, or explore a listing on a national securities exchange, pending satisfaction of required quantitative listing standards.”