The OTC Bulletin Board is a regulated quotation service that displays real-time quotes, last-sale prices and volume information for trading companies. In order for a company to have its shares quoted on the OTC Bulletin Board, it must be a reporting issuer in the United States, be current in its filings with the U.S. Securities and Exchange Commission and have at least one sponsoring market maker that agrees to provide bid and offer information for its securities. There are no minimum quantitative standards that must be met by a company for its shares to be quoted on the OTC Bulletin Board.

Companies that do not meet the listing requirements of the NASDAQ National Market or the NASDAQ SmallCap Market usually choose to list on the OTC Bulletin Board. Once a company develops or expands its business to the point where it meets the NASDAQ SmallCap Market listing requirements, it can apply to move to be listed on that exchange.

For more information, visit the OTC Bulletin Board’s website at www.otcbb.com.