JACKSONVILLE, FLA., Jan. 6, 2016 (GLOBE NEWSWIRE) -- Drone Aviation Holding Corp. (OTCQX:DRNE) ("DAC" or "Drone Aviation"), a manufacturer of tethered drones and lighter-than-air aerostats, today announced that its common stock has been approved to upgrade to the OTCQX® Best Market, effective immediately.
OTCQX is the top tier of the OTC market reserved for established, investor-focused U.S. and global companies. To qualify for OTCQX, companies must meet high quantitative and qualitative financial standards, demonstrate compliance with U.S. securities laws, be current in their disclosure and be sponsored by a professional third-party advisor. OTC Markets Group is a global leader in exchange graduates, advancing more than 400 companies to the New York Stock Exchange, NASDAQ and NYSE MKT in the past nine years.
Jay Nussbaum, Chairman of Drone Aviation, stated, "We are very pleased to receive approval to upgrade to the OTCQX market. This upgrade is yet another step toward accomplishing our goal of an up-listing to a national stock exchange as we seek to expand our shareholder base and improve the Company's ability to attract institutional investors."
Investors may find current financial disclosure and real-time quotes for Drone Aviation Holding Corp. on www.otcmarkets.com.
About Drone Aviation Holding Corp.
Drone Aviation Holding Corp. (OTCQX:DRNE) develops and manufactures cost-effective, compact and rapidly deployable aerial platforms including lighter-than-air aerostats and electric-powered drones designed to provide government and commercial customers with enhanced surveillance and communication capabilities. Utilizing a proprietary tether system, the Company's products are designed to provide prolonged operational duration capabilities combined with improved reliability, uniquely fulfilling critical requirements in military, law enforcement and commercial and industrial applications. For more information about Drone Aviation Holding Corp. please visit www.DroneAviationCorp.com or view our reports and filings with the Securities and Exchange Commission on http://www.sec.gov, including the Risk Factors included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2014, as well as information about the Company in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Forward-Looking Statements
This press release contains projections of future results and other forward-looking statements that involve a number of risks and uncertainties and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Important factors that may cause actual results and outcomes to differ materially from those contained in the projections and forward-looking statements included in this press release are described in our publicly filed reports. Factors that could cause these differences include, but are not limited to, the acceptance of our products, lack of revenue growth, failure to realize profitability, inability to raise capital and market conditions that negatively affect the market price of our common stock. The Company disclaims any responsibility to update any forward-looking statements.