FORT WORTH, Texas, March 15, 2011 /PRNewswire/ -- Wound Management Technologies, Inc., (WNDM.QB | WNDM.PK) a leader in advanced wound care solutions, today commented on the shift in the Company's stock quotation coverage which recently transitioned from the OTCBB to the OTCQB under the symbol "WNDM." 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, Wound Management's business, operations or growth prospects.
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 securities not listed on a national exchange. 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.
Scott Haire, Chief Executive Officer of Wound Management, stated, "We have been told by several of our market makers that there is no technical difference between an OTCBB trading security and a fully reporting issuer trading on the OTCQB. We are reviewing our alternatives to returning to the OTCBB. In the meantime, our common stock will be quoted on the OTCQB, which can be viewed at www.otcmarkets.com."
About Wound Management Technologies, Inc.
Wound Management Technologies, Inc. is an emerging commercial stage company with its primary products in the $5B worldwide advanced wound care market. Wound Management's primary focus is the distribution of its unique, patented collagen product, CellerateRX®, which is FDA cleared and reimbursable under Medicare Part B. Wound Management has other advanced biotech products in development including a patented resorbable bone wax line that is in late stages of development, as well as a subsidiary focused on technology for secure healthcare data collaboration and storage. More information can be found on the company's web sites: http://www.wmgtech.com and http://www.celleraterx.com.
SAFE HARBOR STATEMENT:
The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development and any other statements not constituting historical facts are "forward-looking statements," within the meaning of and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. This document may contain forward-looking statements concerning the Company's operations, current and future performance and financial condition. These items involve risks, contingencies and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks, contingencies and uncertainties detailed in the Company's SEC filings, which could cause the company's actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by these statements. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.
For Wound Management Technologies Shareholder Information please call (917) 974-9872 or visit http://www.wmgtech.com
SOURCE Wound Management Technologies, Inc.