OLATHE, Kan., March 2, 2011 /PRNewswire/ -- Butler National
Corporation (OTCQB: BUKS), a leader in the growing global market
for structural modification, maintenance, repair and overhaul (MRO)
and a recognized provider of management services in diverse
business groups announced its shares are now being exclusively
quoted on OTC Markets Group's OTC Link™ platform.
This change was not caused by any action or inaction by Butler
National, which continues to be in full compliance with all of its
U.S. Securities and Exchange Commission (SEC) reporting
requirements. OTC Link is the world's largest interdealer
quotation system for broker-dealers to quote unlisted stocks.
The platform supports an open network of competing
broker-dealers that provide investors with the best prices in more
than 10,000 OTC securities. In 2010 alone, securities on OTC Link
traded over $144 billion in dollar
volume, making it the third largest U.S. equity trading venue after
NASDAQ and the New York Stock Exchange.
According to otcmarkets.com, in the past 30 calendar days, there
have been 837 publicly traded companies that have moved from being
dually quoted (OTCBB and OTC Link) to being quoted exclusively on
the OTC Link platform. As of the end of last week, priced
quotes published on OTC Link made up 95% of priced quotes in the
OTC marketplace. This movement shows brokers' continued
support of the electronic OTC Link system, as they migrate to quote
exclusively on this platform. During the transition, some
financial Web sites may report Butler National under the symbol
(BUKS.PK).
There are three tiers in the OTC Marketplace. The first
tier is OTCQX, the quality-controlled marketplace for companies
that meet certain financial standards. The second tier is
OTCQB, the U.S. reporting marketplace tier where Butler National
currently trades. Companies within this tier are current in
their reporting requirements with the SEC. The third tier is
designated OTC Pink, which is the market for speculative
trading.
Clark D. Stewart, CEO of Butler
National commented, "We are already Sarbanes-Oxley compliant and
look at this move as a natural progression to our ultimate
objective which is to be listed on a major exchange."
Our Business:
Butler National Corporation operates in the Aerospace and
Services business segments. The Aerospace segment focuses on
the manufacturing of support systems for "Classic" commercial and
military aircraft including the Butler National TSD for the Boeing
737 and 747 Classic aircraft, switching equipment for Boeing
McDonnell Douglas Aircraft, weapon control systems for Boeing
Helicopter and performance enhancement structural modifications for
Learjet, Cessna, Dassault and Beechcraft business aircraft.
Services include electronic monitoring of water pumping
stations, temporary employee services, gaming services and
administrative management services.
About OTC Markets Group, Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the world's
largest electronic marketplace for broker-dealers to trade unlisted
stocks. OTC Link platform supports an open network of competing
broker-dealers that provide investors with the best prices in over
10,000 OTC securities. In 2010, securities on OTC Link traded over
$144 billion in dollar volume, making
it the third largest U.S. equity-trading venue, after NASDAQ and
the NYSE. OTC Markets Group, Inc. categorizes the wide spectrum of
OTC-traded companies into three tiers - OTCQX (the
quality-controlled marketplace for investor friendly companies),
OTCQB (the U.S. reporting company marketplace for development stage
companies), and OTC Pink (the speculative trading marketplace) - so
investors can identify the level and quality of information
companies provide. To learn more about how OTC Markets Group, Inc.
makes the unlisted markets more transparent, informed and
efficient, visit www.otcmarkets.com.
Forward-Looking Information:
The information set forth above includes "forward-looking
statements" as outlined in the Private Securities Litigation Reform
Act of 1995 and Section 21E of the Securities Exchange Act of 1934.
Words such as "anticipate," "estimate," "expect," "project,"
"intend," "may," "plan," "predict," "believe," "should" and similar
words or expressions are intended to identify forward-looking
statements. Investors should not place undue reliance on
forward-looking statements, and the Company undertakes no
obligation to publicly update or revise any forward-looking
statements. All forward-looking statements reflect the
present expectation of future events of our management and are
subject to a number of important factors, risks, uncertainties and
assumptions that could cause actual results to differ materially
from those described in the forward-looking statements. These
factors and risks include, but are not limited to the Cautionary
Statements and Risk Factors, filed as Exhibit 99 and Section 1A to
the Company's Annual Report on Form 10-K, incorporated herein by
reference. Investors are specifically referred to such
Cautionary Statements and Risk Factors for discussion of factors,
which could affect the Company's operations, and forward-looking
statements contained herein.
FOR MORE INFORMATION
CONTACT:
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Reign Strategy & Investment
Group
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Ph (914) 479-9060
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Lou Albert Rodriguez
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lou.albert@reigninvestment.com
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www.reigninvestment.com
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Jim Drewitz, Public
Relations
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Ph (830) 669-2466
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jim@jdcreativeoptions.com
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Butler National Corporation
Investor Relations
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Ph (214) 498-7775
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WEB:
Please review www.butlernational.com for pictures of our
products and details about Butler National Corporation and its
subsidiaries.
SOURCE Butler National Corporation