[The OTCQB] High regulatory and reporting requirements align with Eventure’s stated commitment to investor and marketplace transparency.
Costa Mesa, CA (PRWEB) May 14, 2015
Eventure Interactive, Inc. (EVTI), a social application and technology development company, today announced it will continue to list its securities on the OTCQB Marketplace ("OTC Markets"). Having met all regulatory and administrative requirements, Eventure’s continued listing went effective May 8th, 2015.
“The OTCQB Marketplace is respected as the premier over-the-counter trading platform in the United States. Their high regulatory and reporting requirements align with Eventure’s stated commitment to investor and marketplace transparency as noted in our Business Execution Framework announced in March of 2014”, said Michael Roundtree, Chief Financial Officer of Eventure Interactive, Inc.
In 2014, OTC Markets Group introduced standards and eligibility requirements for OTCQB with the goal of making it a better venture marketplace. To be eligible, companies must be current in their reporting to U.S. or foreign regulators, pass a minimum bid price test of one penny ($0.01), and undergo an annual verification and management certification process providing additional information about the company's insiders, advisors, and share count.
The OTCQB Marketplace helps investors easily identify OTC-traded companies that report to the Securities and Exchange Commission, and it has replaced OTC Bulletin Board as the standard designation for the vast majority of this category of OTC Companies. Recently, OTC Markets established new eligibility standards for companies, aimed at improving information availability and transparency to investors, to trade on the OTCQB Marketplace. Companies that do not comply with the new procedures within the required time frame are downgraded to OTC Pink Marketplace.
OTCQB Key Highlights:
- Minimum bid price test of $0.01 will remove companies that are most likely to be the subject of dilutive stock fraud schemes and promotion.
- Improved investor confidence through verified information, confirming the Company Profile displayed on http://www.otcmarkets.com is current and complete and providing additional information on officers, directors, and controlling shareholders.
- Greater information availability for investors through news and disclosure posted through the OTC Disclosure & News Service.
- Transparent prices for investors through full-depth of book with Real Time Level 2 quotes.
About Eventure Interactive, Inc.
Eventure’s mission is to connect people locally for controlled sharing of their lives.
Every day, millions of people are forced to use multiple applications to plan, invite, navigate, capture, organize, and share their events. Without organization and a simple retrieval system, sharing and recalling memories are often difficult, and many times non-existent. In addition, currently used techniques of memory sharing are person-to-person as opposed to persons-to-event; so many captured memories never end up being shared in a controlled group environment. Eventure solves for this problem. Our proprietary technologies are robust, simple-to-use, and address inefficiencies in the social marketplace by enabling captured memories to be centrally stored and effortlessly shared among event attendees in a secure, real-time environment. From our Social Calendar, to our Wearable Camera Technologies, to our Event based Games, Eventure truly redefines how one creates, curates, and organizes life's most memorable moments.
For more information please visit: http://www.eventure.com
Forward Looking Statements:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are made in accordance with the Private Securities Litigation Reform Act of 1995. Our actual results may differ materially from those implied in these forward-looking statements as a result of many factors, including, but not limited to, overall industry environment, customer acceptance of our products, delay in the introduction of new products, further approvals of regulatory authorities, adverse court rulings, production and/or quality control problems, the denial, suspension or revocation of permits or licenses by regulatory or governmental authorities, termination or non-renewal of customer contracts, competitive pressures and general economic conditions, and our financial condition. These and other risks and uncertainties are described in more detail in our most recent annual report on Form 10-K and other reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made. We undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur, except as required by applicable laws, and you are urged to review and consider disclosures that we make in the reports that we file with the Securities and Exchange Commission that discuss other factors germane to our business.
Executive Director, Investor Relations
Eventure Interactive, Inc.