MOUNTAIN VIEW, Calif., March 3, 2011 /PRNewswire-Asia-FirstCall/ -- Solar EnerTech Corp. (OTCQB :SOEN) (the "Company") today announced that the Company's stock trades on the OTCQB, a marketplace developed by the OTC Markets Group, under the ticker symbol SOEN.
The Company is making this announcement because certain market makers have ceased using the OTC Bulletin Board (OTCBB) in favor of the OTCQB and when the number of market makers using the OTCBB falls to a single market maker the OTCBB ceases to provide a quotation. This is now the case for SOEN. Some retail investor services such as Yahoo Finance may now require the designation SOEN.PK to retrieve a quote for the Company's stock. However the Company wishes to confirm that:
- Solar Enertech Corp. remains a fully reporting Company with the Securities and Exchange Commission. The OTCQB is a market tier for U.S. listed companies that are in compliance with their SEC reporting obligations. The Company's filings remain available at the SEC's website http://www.sec.gov
- The Company's shares are still traded by several market makers. Trading activity and market maker bids and asking prices can be found at http://www.otcmarkets.com/stock/SOEN/quote
The Company expects that investors will continue to be able to trade in its stock with the same facility experienced prior to this change. The OTC Markets Group is a leader in using technology to bring positive changes to the OTC market for the benefit of investors as well as broker-dealers and OTC-traded companies. OTC Markets Group's electronic inter-dealer quotation system has become the leading platform in the U.S. OTC market and many broker-dealers are now exclusively using OTC Markets Group's platform to quote OTC securities.
About OTC Markets Group:
OTC Markets Group Inc. (OTCQX: OTCM) operates the world's largest electronic marketplace for broker-dealers to trade unlisted stocks. Its OTC Link platform supports an open network of competing broker-dealers that provide investors with the best prices in over 10,000 OTC securities. In 2010, securities on OTC Link traded over $144 billion in dollar volume, making it the third largest U.S. equity trading venue after NASDAQ and the New York Stock Exchange. It categorizes the wide spectrum of OTC-traded companies into three tiers– OTCQX (the quality-controlled marketplace for investor friendly companies), OTCQB (the U.S. reporting company marketplace for development stage companies), and OTC Pink (the speculative trading marketplace) -- so investors can identify the level and quality of information companies provide.
About Solar EnerTech Corp.
Solar EnerTech is a photovoltaic solar energy cell manufacturing enterprise incorporated in the United States with its corporate office in Mountain View, California. The Company has established a sophisticated 67,107-square-foot manufacturing facility at Jinqiao Modern Technology Park in Shanghai, China. The Company currently has two 25MW solar cell production lines and a 50MW solar module production facility.
Solar EnerTech has also established a Joint R&D Lab at Shanghai University to develop higher efficiency cells and to put the results of that research to use in its manufacturing processes. Led by one of the industry's top scientists, the Company expects its R&D program to help bring Solar EnerTech to the forefront of advanced solar technology research and production. For additional information regarding the Company, please visit http://www.solarE-power.com.
Safe Harbor Statement
Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on current expectations and are subject to a number of known and unknown risks, uncertainties and other factors beyond our control that could cause actual events and results to differ materially from these statements. These statements are not guarantees of future performance, and readers are cautioned not to place undue reliance on these forward-looking statements, which are relevant as of the date of the given press release and should not be relied upon as of any subsequent date. Solar EnerTech undertakes no obligation to update publicly any forward-looking statements.
SOURCE Solar EnerTech Corp.