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Recent News & Events
August 10, 2011
Global Water Technologies cleared for electronic trading as GWTRD
INDIANAPOLIS, August 10, 2011 -- Global Water Technologies, Inc. (OTC Markets: GWTR, GWTRD) Global Water Technologies, Inc. (OTC Markets: GWTR, GWTRD) announces it has completed its review with the Depository Trust & Clearing Corporation and been approved for electronic clearance of its common stock, which is temporarily trading under the GWTRD stock symbol.
This is a significant milestone for the company, as we have now successfully completed the reverse split, received an upgraded status on the OTC Markets and been cleared for electronic trading, said CEO Erik Hromadka.
Global Water Technologies is trading under the stock symbol GWTRD for a period of 20 days and then will revert back to its original GWTR symbol. The Depository Trust Company (DTC) makes securities eligible for electronic book-entry delivery and settlement. Global Water Technologies now has 8,535,805 shares of common stock outstanding that are DTC-Eligible, allowing brokers to clear the stock electronically.
As a result of these changes and current market conditions, additional volatility is likely in the near term. However, the company expects the move will provide greater stability and opportunities going forward.
We believe this new stock structure provides a better way to connect investors with opportunities in new water technologies, said CEO Erik Hromadka. There's a growing need for innovative new solutions to enhance treatment and improve water efficiency. We look forward to participating in the development of such solutions as part of a new regional water technology cluster being formed in Indiana, Ohio and Kentucky.
Global Water Technologies also plans to move forward with additional development of its proprietary system for the on-site production of sulfuric acid, which was issued U.S. Patent 7,867,470 earlier this year.
These steps provide a good base for the company, as we work to create value for both new and existing shareholders, Hromadka said.
Additional information is available on the company's web site at: www.gwtr.com.
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.