TOLEDO, Ohio, Feb. 28, 2011 /PRNewswire/ -- N-Viro International Corporation (NVIC) announced today its common stock will be quoted on the OTCQB, which is one of the quotation services for SEC-registered and reporting companies that trade over the counter ("OTC Markets"). The Company's trading symbol (NVIC) remains the same. The change is not related to any adverse condition or action of the Company nor is it the result of any disciplinary proceeding or procedure against it.
The Company's common stock will no longer be quoted on the FINRA-supervised OTCBB because under Securities and Exchange Commission Rule 15c2-11, if a market maker fails to quote a security on the OTCBB for a period of four consecutive days, FINRA automatically removes the security from the OTCBB. Decisions concerning where to enter a quotation for our Company's stock are made by our market makers--not by the Company. These market maker decisions are usually driven by transaction costs, and the Company has no control over the quotation medium selection process. N-Viro believes removal from the OTCBB will have no effect on the Company since the ability to obtain immediate real-time information about the Company's stock trading activity, enter trades and otherwise follow the Company, remain as before.
"In many cases it makes financial sense for market makers to quote the shares on OTC Markets rather than on the OTCBB because the cost difference can be substantial, and if a market maker has a market in several securities those costs add up," said Tim Kasmoch, CEO. "No matter where N-Viro is quoted we will remain a fully reporting and transparent company, which we believe is the cornerstone of building and maintaining shareholder trust and confidence.
For additional information about the differences between the OTCQB and the OTCBB see www.otcqb.com/otcqb/home and www.otcbb.com. The Company does not incorporate the information on those web sites in this press release.
About N-Viro International
N-Viro International Corporation is an environmental and materials handling company that owns significant patented technologies to convert various residual bio-organics into renewable fuel. N-Viro Fuel™ has received alternative energy status from the U.S. Environmental Protection Agency, which qualifies the technology for renewable energy incentives. Two manufacturing facilities currently use advanced treatment for management of wastewater residuals. Both facilities are in full-scale operation producing considerable volumes of N-Viro Soil for a variety of customers.
N-Viro maintains a company website http://www.nviro.com and a company blog site http://nvirointernational.wordpress.com where interested parties can follow the progress of the Company. N-Viro will continue to post press releases on the company website and a discussion forum on the company blog site. We encourage stockholders and interested parties to monitor the site on a regular basis.
Special Cautionary Note Regarding Forward-Looking Statements
The Company cautions that words used in this document such as "expects," "hopes", "anticipates," "believes" and "may," as well as similar words and expressions used herein, identify and refer to statements describing events that may or may not occur in the future. These forward-looking statements and the matters to which they refer are subject to considerable uncertainty that may cause actual results to differ materially from those described herein. For example, while the Company expects business expansion projects to begin in an estimated time frame, such expectations are subject to adverse economic conditions and other factors outside of the Company's control. Further, the Company's ability to increase capabilities and expand capacity is subject to the ability of the Company or its partners to access sufficient capital to pay for this expansion, which will further depend on, among other factors, market acceptance. The Company's ability to achieve profitability of these projects could be negatively impacted if there is a lack of an adequate supply of waste or expenses increase above the Company's expectations - including fuel and transportation costs, labor costs and costs relating to the treatment and processing of the biosolids and creation of the N-Viro Soil or N-Viro Fuel. In addition, while the Company believes that trends in "greener" energy solutions are moving in favor of the Company's technology, such trends may not continue or may never result in increased sales or profits to the Company because of the availability of competing products and other alternative energy source. All of these factors, and other factors, will affect the profitability of the Company. Additional information about these and other factors that may adversely affect these forward-looking statements are contained in the Company's reports, including its Annual Report on Form 10-K for the year ended December 31, 2009 and other filings with the Securities and Exchange Commission. The Company assumes no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws.
For More Information Contact:
Timothy Kasmoch, CEO
| 3450 W. Central Ave. | Suite No. 328 | Toledo, OH 43606 | PHONE 419-535-6374 | FAX 419-535-7008
SOURCE N-Viro International Corporation