PRINCETON, N.J., March 4, 2011 /PRNewswire/ -- Mikros Systems Corporation (OTCQB: MKRS) announced today that the Company's stock quotation coverage recently transitioned from the OTC Bulletin Board to the OTCQB. The Company's common stock will continue be traded under the symbol "MKRS." The OTCQB is one of three tiers established by OTC Markets Group, Inc. which operates one of the world's largest electronic interdealer quotation systems for broker-dealers to trade unlisted securities. The OTCQB designation is meant to identify companies that are reporting with the SEC or a U.S. banking regulator, making it easy for investors to identify companies that are current in their reporting obligations.
Following the transition to the OTCQB, Mikros President and CEO, Thomas Meaney, commented, "The shift in coverage to the OTCQB was caused by an unexpected migration of the Company's market makers away from the OTCBB, and does not affect, nor is it a reflection upon, the Company's business, operations or prospects, which remain strong and in line with expected and current trends."
Meaney concluded, "The transition to the OTCQB does not affect the Company's business or its status as a public reporting company under the Securities Exchange Act of 1934. We understand that dozens of companies have similarly transitioned from the OTC Bulletin Board to the OTCQB in recent weeks."
About Mikros Systems (OTCQB: MKRS)
Mikros Systems Corporation is an advanced technology company specializing in the research and development of electronic systems technology primarily for military applications. Classified by the U.S. Department of Defense as a small business, its capabilities include technology management, electronic systems engineering and integration, radar systems engineering, combat/command, control, communications, computers and intelligence systems engineering, and communications engineering. Mikros' primary business is to pursue and obtain contracts from the Department of Homeland Security, U.S. Navy, and other governmental authorities. For more information on Mikros visit: www.mikrossystems.com
Important Information about Forward-Looking Statements: All statements in this news release and in the interview other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause the Company's actual results, events or financial positions to differ materially from those included within the forward-looking statements. Such factors include, but are not limited to, changes in business conditions, a decline or redirection of the U.S. Defense budget, the termination of any contracts with the U.S. Government, changes in our sales strategy and product development plans, changes in the marketplace, continued services of our executive management team, our limited marketing experience, competition between us and other companies seeking SBIR grants, competitive pricing pressures, market acceptance of our products under development, delays in the development of products, statements of assumption underlying any of the foregoing, and other factors disclosed in our annual report on Form 10-K for the year ended December 31, 2009 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements.
SOURCE Mikros Systems Corporation