BOULDER, Colo., Oct. 14 /PRNewswire-FirstCall/ -- Encision Inc. (Pink Sheets: ECIA) ("Encision," or the "Company"), a medical device company owning patented surgical technology that is emerging as a standard of care in minimally-invasive surgery, announced today that the Company is in the process of transferring the quotation of its common stock to the OTC Bulletin Board ("OTCBB") and that it has identified a sponsoring market maker who will make an application to quote the common stock of Encision on the OTCBB. The Company's directors, executives and 10% shareholders have filed information with the market maker.
Trading of the Company's common stock on the OTCBB, which is maintained by the Financial Industry Regulatory Authority ("FINRA"), is subject to a market maker's filing of a Form 211 with, and the clearance of such Form 211 by, FINRA. We expect that the market maker will file a Form 211 with FINRA to seek clearance to quote the Company's common stock on the OTCBB within ten days. The Company's common stock is currently quoted on the Pink Sheets, an electronic quotation service for securities traded over-the-counter, and will continue to be quoted on the Pink Sheets.
Jack Serino, President and CEO of Encision, said, "The Company is aggressively pursuing quotation of its common stock on the OTCBB. Until the market maker files the Form 211 and FINRA clears the Company's common stock for quotation on the OTCBB we will, in the interim, trade on the Pink Sheets. The Company will endeavor to operate in compliance with the reporting requirements for the OTCBB, which will include continuing to file with the SEC and all other applicable regulatory authorities."
There can be no assurance that the Company's common stock will be granted eligibility to be quoted on the OTCBB. Quotation on the OTCBB requires companies to be current in their filings with the SEC. The Company believes that it is current with its filings with the SEC and all other applicable regulatory authorities.
Encision Inc. designs, develops, manufactures and markets innovative surgical devices that allow surgeons to optimize technique and patient safety during a broad range of surgical procedures. Based in Boulder, Colorado, the Company pioneered the development of patented AEM(R) Laparoscopic Instruments to improve electrosurgery and reduce the chance for patient injury in minimally invasive surgery.
In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company notes that statements in this press release and elsewhere that look forward in time, which include everything other than historical information, involve risks and uncertainties that may cause actual results to differ materially from those indicated by the forward- looking statements. Factors that could cause the Company's actual results to differ materially include, among others, its ability to increase revenues through the Company's distribution channels, insufficient quantity of new account conversions, insufficient cash to fund operations, scale up production to meet delivery obligations, delay in developing new products and receiving FDA approval for such new products and other factors discussed in the Company's filings with the Securities and Exchange Commission.
CONTACT: Marcia McHaffie, Encision Inc., 303-444-2600, firstname.lastname@example.org
|SOURCE Encision Inc.|
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