Quatech, Inc., a division of DPAC Technologies (Pink Sheets: DPAC), and a leader in wireless machine-to-machine (M2M) networking solutions, today announced that it has migrated from the OTCBB quotation and trading system to the OTC Markets Group, Inc. quotation and trading system. DPAC is no longer going to be quoted on the OTCBB quotation system. DPAC's stock is now quoted exclusively on OTC Markets Group's OTC Link(TM) quotation platform. This change was not caused by any action or inaction by DPAC, which continues to be in full compliance with all of its reporting requirements.
The OTC equities market in the U.S. has seen rapid changes over the past few years that have made OTC trading more transparent and efficient. OTC Markets Group, Inc. (OTC Markets) has been the leader in using technology to bring positive changes to the OTC marketplace for the benefit of investors, as well as broker-dealers and OTC-traded companies. OTC Markets' electronic interdealer quotation and trading system (OTC Link) has become one of the leading OTC quotation platforms in the U.S. In 2010, securities on OTC Link traded over $144 billion in dollar volume, making it the third largest U.S. equity-trading venue, after NASDAQ and the NYSE. Many market makers and broker-dealers are now exclusively using OTC Markets' platform to quote and negotiate trades in OTC securities, regardless of their SEC reporting status.
There are three tiers in the OTC marketplace. The first tier is OTCQX, the quality-controlled marketplace for companies that meet certain financial standards. The second tier is OTCQB, the U.S. Reporting marketplace tier where DPAC currently trades. Companies within this tier are current in their reporting requirements with the U.S. Securities and Exchange Commission (SEC). The third tier is designated OTC Pink, which is the marketplace for speculative trading.
There has been a large migration of brokers from the OTCBB quotation system to the OTC Link quotation system. Contrary to the electronic platform provided by OTC Link, the OTCBB quotation system continues to operate on a telephonic trading platform. According to otcmarkets.com, in the past 30 calendar days, there have been 837 publically traded companies that have moved from being dually quoted (OTCBB and OTC Link) to being quoted exclusively on the OTC Link platform. As of the end of last week, priced quotes published on OTC Link made up 95% of priced quotes in the OTC marketplace. This movement shows brokers' continued support of the electronic OTC Link system, as they migrate to quote exclusively on this platform. During the transition, some financial Web sites may report DPAC Technologies Corp. under the symbol DPAC.PK.
For current stock quotes for DPAC, investors can go to the www.otcmarkets.com website to stay current on DPAC's trading activity and stock price.
About OTC Markets Group, Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the world's largest electronic marketplace for broker-dealers to trade unlisted stocks. Our OTC Link platform supports an open network of competing broker-dealers that provide investors with the best prices in over 10,000 OTC securities. In 2010, securities on OTC Link traded over $144 billion in dollar volume, making it the third largest U.S. equity-trading venue, after NASDAQ and the NYSE. We categorize the wide spectrum of OTC-traded companies into three tiers - OTCQX (the quality-controlled marketplace for investor friendly companies), OTCQB (the U.S. reporting company marketplace for development stage companies), and OTC Pink (the speculative trading marketplace) - so investors can identify the level and quality of information companies provide. To learn more about how OTC Markets Group, Inc. makes the unlisted markets more transparent, informed and efficient, visit www.otcmarkets.com.
About Quatech, Inc.
Quatech delivers high performance device networking and connectivity solutions to help companies improve their bottom line results. Its products enable reliable machine-to-machine (M2M) communications via secure 802.11 wireless or traditional wired networks, with industrial-grade embedded radios, modules, boards and external device servers, and bridges. For local and mobile connections, Quatech’s serial adapters provide secure connectivity and port expansion via any interface option.
Satisfied customers worldwide rely on Quatech’s unique combination of performance and support to improve operations through real-time remote monitoring and control, streamlined systems, and lowest total cost of ownership (TCO). Quatech markets its products through a global network of distributors, resellers, systems integrators and original equipment manufacturers in the transportation, instrumentation and industrial control, homeland security, medical equipment, and logistics markets. Founded in 1983, Quatech is headquartered in Hudson, Ohio. Quatech merged with DPAC Technologies (OTCQB: DPAC) in February 2006. Information concerning DPAC is filed by DPAC with the SEC and is available on the SEC website, www.sec.gov. To learn more about Quatech’s complete line of device networking and connectivity solutions, visit www.quatech.com.
This press release includes forward-looking statements. You can identify these statements by their forward-looking words such as "may," "will," "expect," "anticipate," "believe," "guidance," "estimate," "intend," predict," and "continue" or similar words or any connection with any discussion of future events or circumstances or of management's current estimates or beliefs. Forward-looking statements are subject to risks and uncertainties, and therefore results may differ materially from those set forth in those statements. More information about the risks and challenges faced by DPAC Technologies Corp. is contained in the Securities and Exchange Commission filings made by the Company on Form S-4, 10-K, 10-Q or 10-QSB and 8-K. DPAC Technologies Corp. specifically disclaims any obligation to update or revise any forward-looking statements whether as a result of new information, future developments or otherwise.