Turbine Truck Engines Approved for Trading on OTCQB Marketplace
Daytona Beach, FL | March 23, 2015
Turbine Truck Engines, Inc. (OTCQB:TTEG) (OTCBB:TTEG) announces the company has completed the verification process and received approval, on March 20, 2015, for trading of Turbine Truck Engines (“TTE”) securities on OTCQB, an electronic quote and trade execution venture marketplace for entrepreneurial and development stage companies.
On March 26, 2014, OTC Markets Group introduced stringent standards and eligibility requirements designed to improve marketplace integrity and enhance transparency for investors of company securities trading on both the OTCQB and the OTCQX marketplace. Approximately 2,400 OTCQB companies face the compliance deadline of May 1, 2015 to either remain or be removed from OTCQB. By July 30, 2015, all OTCQB companies that cannot or choose not to comply with the new standards will be downgraded to OTC Pink. Companies verified and approved for the OTCQB are current in their reporting and will continue to undergo an annual verification and management certification process. To learn more about OTC Markets Group and the OTCQB Marketplace.
Enzo Cirillo, TTE Interim CEO and Board Chairman, indicates “TTE has 14-years of audited reporting with the SEC and will always support any initiative designed to empower our shareholders with access to important and accurate information. TTE applauds OTC Markets Group for this recent compliance, transparency and verification initiative designed to assist investors to make better informed investment decisions.”
Through OTC Market Group’s OTC Link® ATS data driven platform, shareholders and investors of companies’ approved to trade on OTCQB have a direct link to a diverse network of broker-dealers that provide continuous electronic bid/ask quote and execution services for OTCQB verified company securities.
About Turbine Truck Engines
Turbine Truck Engines, Inc. is a clean-air technology company dedicated to identifying, developing and commercializing important scientific innovations designed to enhance both environmental conservation and cost savings in how the world consumes energy. For more information concerning Turbine Truck Engines, Inc., please visit www.ttengines.com.
This announcement may contain forward-looking statements made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements, among others, relating to our future capital requirements, including our expected liquidity position and timing of the receipt of certain milestone payments, and the sufficiency of our current assets to meet these requirements, our future results of operations, and our plans, objectives, expectations and intentions. Because these statements apply to future events, they are subject to risks and uncertainties. When used in this announcement, the words "anticipate", "believe", "estimate", "expect", "expectation", "goal", "should", "would", "project", "plan", "predict", "intend", "target" and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to us and are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, expected liquidity or achievements to differ materially from those projected in, or implied by, these forward-looking statements. Factors that may cause such a difference include, without limitation, our need for substantial additional financing and the availability and terms of any such financing, ability to comply with ongoing governmental regulation, our ability to commercialize, manufacture and achieve market acceptance of any of our product candidates, for which we rely heavily on collaboration with third parties, and our ability to protect and enforce our intellectual property rights and to operate without infringing upon the proprietary rights of third parties, and general market trends and conditions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, performance or achievements and no assurance can be given that the actual results will be consistent with these forward-looking statements.
We do not intend to update any of the forward-looking statements after the date of this announcement to conform these statements to actual results, to changes in management's expectations or otherwise, except as may be required by law.
Turbine Truck Engines, Inc.