Feb. 24, 2011
/PRNewswire/ -- Radiant Logistics, Inc. (OTC QB: RLGT), CEO
today commented on the shift in the Company's stock quotation coverage which recently transitioned from the OTC Bulletin Board to the OTCQB under the symbol "RLGT." 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 unlisted securities. 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.
"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, the Company's business, operations or prospects, which remain strong and in line with expected and current trends," said
, Chairman and CEO. "Furthermore, as this shift just occurred, it is too early for us to determine whether this will have any positive impact on our trading price or market liquidity."
Crain concluded, "The transition to the OTCQB does not affect the Company's business or its status as a public reporting company under the Securities Exchange Act of 1934. The Company intends to closely monitor the situation as it evaluates its alternatives; determining whether to remain listed for quotation on the OTCQB, seek to resume quotation on the OTCBB, or explore a listing on a national securities exchange, pending satisfaction of required quantitative listing standards."
About Radiant Logistics (OTCQB: RLGT)
Radiant Logistics (
) is a non-asset based logistics company providing domestic and international freight forwarding and related services through a network of approximately 70 company owned and exclusive agent offices across
. Operating under the Airgroup, Adcom Worldwide and Radiant brands, the company services a diversified account base including manufacturers, distributors and retailers using a network of independent carriers and international agents positioned strategically around the world. For more information about Radiant Logistics, please contact
at (425) 943-4599.
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding future operating performance, events, trends and plans. All statements other than statements of historical fact contained herein, including, without limitation, statements regarding our future financial position, business strategy, budgets, projected revenues and costs, and plans and objectives of management for future operations, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expects," "intends," "plans," "projects," "estimates," "anticipates," or "believes" or the negative thereof or any variation thereon or similar terminology or expressions. We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause our actual results to differ from our expectations, include but are not limited to, our ability to: use our current infrastructure as a "platform" upon which we can build a profitable global transportation and supply chain management company; retain and build upon the relationships we have with our exclusive agency offices; continue the development of our back office infrastructure and transportation and accounting systems in a manner sufficient to service our expanding revenues and base of exclusive agency locations; continue growing our business and maintain historical or increased gross profit margins; locate suitable acquisition opportunities; secure the financing necessary to complete any acquisition opportunities we locate; assess and respond to competitive practices in the industries in which we compete, mitigate, to the best extent possible, our dependence on current management and certain of our larger exclusive agency locations; assess and respond to the impact of current and future laws and governmental regulations affecting the transportation industry in general and our operations in particular; as well as those risk factors disclosed in Item 1A of our Report on Form 10 K for the year ended June 30, 2010 other filings with the Securities and Exchange Commission and other public documents and press releases which can be found on our web-site (
). Readers are cautioned not to place undue reliance on our forward-looking statements, as they speak only as of the date made. Such statements are not guarantees of future performance or events and we undertake no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances occurring after the date hereof.
SOURCE Radiant Logistics, Inc.