NEW YORK, Jan. 13, 2015 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced Crexendo, Inc. (OTCQX: CXDO), an innovative cloud-based telecommunications services provider to the startup, SMB and small enterprise market, has qualified to trade on OTCQX®, the best marketplace for established, global and growth companies. The company previously traded on the NYSE MKT exchange.
Crexendo began trading today on OTCQX under the symbol "CXDO." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"Trading on OTCQX will enable Crexendo to maintain a transparent trading and information experience for investors as it focuses on growing its business and delivering long-term value to shareholders," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "We are pleased to welcome Crexendo to the OTCQX marketplace and look forward to working with the company now and in the future."
Steven G. Mihaylo, Crexendo Chief Executive Officer, commented, "Our decision to delist from the New York Stock Exchange and move to the OTCQX was made after carefully reviewing the OTCQX marketplace. We then determined that the trading platform provided substantial benefit and transparency for our investors. We will continue to provide not only the required information to investors, but information which should allow investors to make informed decisions. The move to OTCQX marketplace was made in concert with general reductions in cost made by the company across the board. We are diligently working to continue to reduce our costs and bring the company to profitability. I continue to remain confident that we are in the right space, with the right products and services. My recent stock investment of $2,000,000 (two million dollars) is an indication of my belief in the future of the company."
Greenberg Traurig, LLP serves as Crexendo's Designated Advisor for Disclosure ("DAD") on OTCQX, responsible for providing professional guidance on OTCQX requirements and U.S. securities laws.
Crexendo is a hosted services company that provides hosted telecommunications services, hosted website services, website development software and broadband internet services for businesses and entrepreneurs. Its services are designed to make enterprise-class hosting services available to small, medium-sized and enterprise-sized businesses at affordable monthly rates.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent and Connected financial marketplaces for 10,000 U.S. and global securities. Through our OTC Link® ATS, we directly link a diverse network of broker-dealers that provide liquidity and execution services for a wide spectrum of securities. We organize these securities into marketplaces to better inform investors of opportunities and risks – OTCQX®, The Best Marketplace; OTCQB®, The Venture Marketplace; and OTC Pink®, The Open Marketplace. Our data-driven platform enables investors to easily trade through the broker of their choice at the best possible price and empowers a broad range of companies to improve the quality and availability of information for their investors. To learn more about how we create better informed and more efficient financial marketplaces, visit www.otcmarkets.com.
OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
Saskia Sidenfaden, OTC Markets Group Inc., +1 (212) 896-4428, firstname.lastname@example.org
SOURCE OTC Markets Group Inc.