$RXSF NASDAQ/NYSE Up List Soon, Rx Safes Announces Application to OTCQB Marketplace
Company Takes First Steps Towards National Listing
HENDERSON, NV -- (Marketwired) -- 12/03/15 -- Rx Safes, Inc. (OTC PINK: RXSFD), the developer of autonomous, embedded fingerprint healthcare security products, announced today that it has applied to the OTCQB Venture Marketplace for listing. The Company also reiterated its strategy to create greater opportunity for its shareholders and attract new retail and institutional investors by eliminating its debt through a new comprehensive funding arrangement. The Company, based in Henderson, Nevada is developing a line of fingerprint secured products for consumers and professional healthcare providers to secure the storage, transportation and dispensing of controlled substances.
The OTCQB is considered by the SEC as an "established public market" for the purpose of determining the public market price when registering securities for resale with the SEC. The OTC Pink is not considered as such and most broker dealers will not trade or recommend OTC Pink stocks. Because the OTCQB dramatically increases transparency, reporting standards, management certification and compliance requirements, the majority of broker dealers trade stocks on the OTCQB. Historically this has resulted in greater liquidity and awareness for companies that reach the OTCQB tier.
"We are pleased to announce our application to up-list to the OTCQB Marketplace," stated Lorraine Yarde, Chief Executive Officer of Rx Safes, Inc. "Rx Safes is committed to the high level of financial and corporate disclosure that is required for this listing category and this is demonstrated in our rapid up-list to the OTCQB," Ms. Yarde added. "This move represents our continued commitment to our shareholders and we believe that trading on the OTCQB will enhance trading liquidity, broaden our shareholder base and continue to increase market adoption of our products and solutions as the company prepares for listing on a national exchange."
In addition, Rx Safes' management has reiterated its strategy to eliminate corporate debt by retiring all outstanding convertible debt through new financing to be announced. The Company is finalizing an agreement with its primary lender that limits debt conversion impact on the market by placing strict leak-out protocols on such sales.
These milestones open the doors to institutional investors and market makers who were not previously able to buy and sell shares of our Company. Meeting the increased compliance and information requirements of OTCQB provides our investors greater confidence in the information disclosed by the Company and ensures our commitment to accountability and transparency. We will continue working towards our goals of up-listing to a national exchange such as the NASDAQ and will announce our efforts to meet those listing requirements as they develop.
About Rx Safes, Inc.
Rx Safes is an emerging leader in the personal and professional healthcare drug security market. Our products incorporate proprietary patented fingerprint technology to provide drug security solutions for use in homes and healthcare facilities. Prescription drug misuse, skyrocketing insurance and pharmaceutical treatment costs and increased regulatory pressures create an unfortunate, yet necessary opportunity for Rx Safes to expand our reach and offerings in this growing market, valued at over $50 billion annually. Annual spending on healthcare technology products exceeds $34.5 billion. In addition, the market is being driven by ongoing Government support for successful drug abuse prevention initiatives, with a financial commitment of $25.4 billion in 2015 alone. For more information, please visit www.rxdrugsafe.com
Company Takes First Steps Towards National Listing
HENDERSON, NV -- (Marketwired) -- 12/03/15 -- Rx Safes, Inc. (OTC PINK: RXSFD), the developer of autonomous, embedded fingerprint healthcare security products, announced today that it has applied to the OTCQB Venture Marketplace for listing. The Company also reiterated its strategy to create greater opportunity for its shareholders and attract new retail and institutional investors by eliminating its debt through a new comprehensive funding arrangement. The Company, based in Henderson, Nevada is developing a line of fingerprint secured products for consumers and professional healthcare providers to secure the storage, transportation and dispensing of controlled substances.
The OTCQB is considered by the SEC as an "established public market" for the purpose of determining the public market price when registering securities for resale with the SEC. The OTC Pink is not considered as such and most broker dealers will not trade or recommend OTC Pink stocks. Because the OTCQB dramatically increases transparency, reporting standards, management certification and compliance requirements, the majority of broker dealers trade stocks on the OTCQB. Historically this has resulted in greater liquidity and awareness for companies that reach the OTCQB tier.
"We are pleased to announce our application to up-list to the OTCQB Marketplace," stated Lorraine Yarde, Chief Executive Officer of Rx Safes, Inc. "Rx Safes is committed to the high level of financial and corporate disclosure that is required for this listing category and this is demonstrated in our rapid up-list to the OTCQB," Ms. Yarde added. "This move represents our continued commitment to our shareholders and we believe that trading on the OTCQB will enhance trading liquidity, broaden our shareholder base and continue to increase market adoption of our products and solutions as the company prepares for listing on a national exchange."
In addition, Rx Safes' management has reiterated its strategy to eliminate corporate debt by retiring all outstanding convertible debt through new financing to be announced. The Company is finalizing an agreement with its primary lender that limits debt conversion impact on the market by placing strict leak-out protocols on such sales.
These milestones open the doors to institutional investors and market makers who were not previously able to buy and sell shares of our Company. Meeting the increased compliance and information requirements of OTCQB provides our investors greater confidence in the information disclosed by the Company and ensures our commitment to accountability and transparency. We will continue working towards our goals of up-listing to a national exchange such as the NASDAQ and will announce our efforts to meet those listing requirements as they develop.
About Rx Safes, Inc.
Rx Safes is an emerging leader in the personal and professional healthcare drug security market. Our products incorporate proprietary patented fingerprint technology to provide drug security solutions for use in homes and healthcare facilities. Prescription drug misuse, skyrocketing insurance and pharmaceutical treatment costs and increased regulatory pressures create an unfortunate, yet necessary opportunity for Rx Safes to expand our reach and offerings in this growing market, valued at over $50 billion annually. Annual spending on healthcare technology products exceeds $34.5 billion. In addition, the market is being driven by ongoing Government support for successful drug abuse prevention initiatives, with a financial commitment of $25.4 billion in 2015 alone. For more information, please visit www.rxdrugsafe.com
