NEW YORK, Aug. 2, 2016 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced The Singing Machine Company, Inc. (OTCQX: SMDM), a North American leader in consumer karaoke products, has qualified to trade on the OTCQX® Best Market.The Singing Machine Company upgraded to OTCQX from the OTCQB® Venture Market.
The Singing Machine Company begins trading today on OTCQX under the symbol "SMDM." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"We are pleased to welcome The Singing Machine Company to the OTCQX Best Market," said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. "Trading on OTCQX will allow The Singing Machine Company to provide its shareholders with a transparent and efficient public trading market and convenient access to its news and financial disclosure."
Gary Atkinson, Chief Executive Officer of Singing Machine commented, "We are excited about qualifying for the OTCQX market and we see this move as a major milestone in the future roadmap of our Company. It is a major step towards increasing the liquidity of our stock and reaching a larger number of investors. We are thrilled at the opportunity to tell our Singing Machine story to a larger audience."
Dickinson Wright PLLC serves as The Singing Machine Company's OTCQX Advisor, responsible for providing professional guidance on OTCQX requirements and U.S. securities laws.
Based in the US, Singing Machine is the North American leader in consumer karaoke products. The company offers the widest line of at-home karaoke entertainment products, which allow consumers to find a machine that suits their needs and skill level. As the most recognized brand in karaoke, Singing Machine has a long history of offering quality products with the latest technology. The company continues to redefine the home entertainment space. The Singing Machine sells its products through major retailers in North America. For more information on Singing Machine, visit www.singingmachine.com.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market, and the Pink® Open Market for 10,000 U.S. and global securities. Through OTC Link® ATS, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.
To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com
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SOURCE OTC Markets Group Inc.