DALLAS, Feb. 18, 2014 /PRNewswire/ -- CVSL Inc. (OTCQB: CVSL) announced today that it has applied to uplist for trading on OTCQX® U.S., a higher tier of the Over The Counter (OTC) markets.
OTCQX U.S. is a segment of the OTCQX marketplace reserved for high-quality U.S. companies that meet financial standards, undergo management reviews and provide timely news and disclosure to investors. Investors can find more information at www.otcmarkets.com.
"We wish to keep our shareholders informed of the material steps we are taking toward uplisting. This is a very important development that we want them to know about," said John Rochon Jr., chairman of CVSL's investment committee.
"There are about 10,000 securities traded in the OTC Markets – but only the top ones qualify to be in the OTCQX. We have said from the beginning that we intended to continually evaluate our uplisting opportunities. We want investors to know that we are taking the next logical step along that path," said Mr. Rochon.
"We believe that uplisting to OTCQX will send a message to larger investors that CVSL is a quality company with full transparency and information that is easy for investors to access. We believe this will attract the attention of additional investors, including larger funds."
"We have always said that we want our shareholders to have complete information about our company and a high level of confidence in us," added Mr. Rochon. "Today's news reinforces our continuing commitment to transparency. We are optimistic that our application will be approved shortly and that CVSL soon will take this next important uplisting step," said Mr. Rochon.
In a related move, last week CVSL announced that company information will be made available via S&P Capital IQ's Market Access Program, an information distribution service that enables subscribing publicly-traded companies to have their company information disseminated to users of S&P Capital IQ's MarketScope Advisor.
CVSL is a growing group of micro-enterprise companies that connect social media networks into an ever-expanding virtual "community" of social commerce. CVSL companies currently include The Longaberger Company, a 40-year old maker of hand-crafted baskets and other home decor items; Your Inspiration At Home, an award-winning maker of hand-crafted spices and other gourmet food items from around the world; Tomboy Tools, a direct seller of tools designed for women as well as home security systems; and Agel Enterprises, a global seller of nutritional products in gel form as well as a skin care line sold under the Ageless™ brand, operating in 40 countries; Paperly, which offers a line of custom stationery and other personalized products and My Secret Kitchen, a U.K.-based seller of gourmet food products. In addition, CVSL and Golden Girls, a purchaser of gold and tradable jewelry, have signed a definitive purchase agreement, which is subject to customary closing conditions.
Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements that involve risks and uncertainties. All statements other than statements of historical fact contained in this press release are forward-looking statements. We have attempted to identify forward-looking statements by terminology including "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," or "will" our growth and our application to uplist to the OTCQX U.S.. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. These statements are only expectations and involve known and unknown risks, uncertainties, and other factors; our growth may not continue as anticipated, our anticipated approval of our uplisting and/or the benefits of the uplisting may not occur as expected and the risks outlined under "Risk Factors" in our Annual Report on Form 10-K for our fiscal year ended December 31, 2012, our Forms 10-Q, including the one issued for the period ending September 30, 2013 and those discussed in other documents we file with the Securities and Exchange Commission, which may cause our actual results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements to differ materially from expectations. Except as required by law, we undertake no obligation to update or revise publicly any of the forward-looking statements after the date of this press release to conform our statements to actual results or changed expectations.
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SOURCE CVSL Inc.