Green Earth Technologies Inc. in Stamford has placed stock shares for sale on a new market tier, OTCQB.
Green Earth now has common stocks being quoted on the newly launched market.
The OTCQB is a recently amalgamated market tier for over-the-counter (or OTC-traded) U.S. companies that are registered and reporting with the Securities and Exchange Commission or a U.S. banking or insurance regulator. OTCQB reporting companies and banks were formerly designated as Pink Sheets stocks.
Green Earth Technologies is a producer of environmentally friendly liquid products that use nanotechnologies, including car oils and household cleansers
“We have made a substantial commitment to investor disclosure by being registered and reporting with the SEC and believe that this change will provide our shares with improved liquidity and more exposure to investors through OTC’s electronic multiple market maker system,” said William Marshall, chairman and CEO of Green Earth Technologies.
OTCQB stocks are identified with an icon reading “OTCQB, U.S. Registered.”
The market was created in an effort to better distinguish OTC securities that are registered and that report to U.S. regulators. The market was created by Pink OTC Markets Inc. in New York City. The market tier includes the securities of more than 768 companies and banks in addition to the 3,050 securities that are currently quoted in both Pink OTC Markets’ electronic interdealer quotation system and in the Financial Industry Regulatory Authority’s OTC Bulletin Board.
“We created the OTCQB as the middle tier of the OTC market to better distinguish OTC-traded companies that have made the substantial commitment to investor disclosure by being registered and reporting with a U.S. regulator,” said R. Cromwell Coulson, president and CEO of Pink OTC Markets Inc. “By segmenting the OTC marketplace, we believe that issuers will be motivated to provide the highest level of disclosure and compliance that they are capable of supplying, which will ultimately lead to more efficient capital allocation by investors.”
