Uplisting to the OTCQB is expected to improve the company’s position in the public markets and increase visibility to the investment community
CULVER CITY, CA, March 20, 2018 (GLOBE NEWSWIRE) -- FlitWays Technology, Inc. (OTC Pink: FTWS), a leading ground travel technology company, today announced that it has initiated a strategy to upgrade its position in the public markets and increase its visibility to a wider range of investors through the process of uplisting from the OTC Pink Open Market to the OTCQB Venture Market. The company has submitted OTCQB application materials to OTC Markets Group, operator of OTCMarkets.com.
With significant revenue increases already reported for the 2nd and 3rd quarters of 2017, ongoing growth of the company’s corporate-focused enterprise ground transportation service, and an expanded emphasis on transparency since the beginning of 2018, management believes that FlitWays is in the ideal position to uplist to the OTCQB Venture Market and gain the increased visibility that the OTCQB provides.
FlitWays’ Chief Executive Officer Tobi Mac commented, “Uplisting to OTCQB is an important milestone in management’s plan to grow the company and upgrade its position in the public markets. We believe that trading on the OTCQB will increase visibility to the investment community, particularly to institutional investors, as we continue to solidify our position as a leading global enterprise ground transportation solutions provider.”
The company already meets OTCQB Venture Market compliance requirements by filing audited annual financials prepared in accordance with U.S. GAAP by a PCAOB auditor and maintains a Verified Company Profile at OTCMarkets.com.
For more information on FlitWays, please visit the company’s corporate website at https://flit.co and its Investor Relations page at https://flit.co/ir. Investors wishing to subscribe to the company’s Investor Alert system are asked to fill in the appropriate fields at the bottom of the Investor Relations page to receive notices of S.E.C. filings, press releases after they cross the newswire, periodic newsletters, and other information about FlitWays’ business that management believes will be of interest to holders of the company’s stock.
The company also encourages shareholders to follow the company’s social media pages: Twitter: http://twitter.com/flitride, Facebook: http://www.facebook.com/flitride, and Instagram: https://www.instagram.com/flitride/).
About FlitWays:
FlitWays Technology Inc. (https://flit.co), traded under the stock symbol FTWS, is an innovative, disruptive travel technology company that offers a convenient, cost-effective ground transportation solution for corporate travelers and a new source of revenue for travel businesses. While companies like Uber and Lyft focus on individual consumers, FlitWays serves the massive enterprise market, including industry leaders Amazon, Samsung, Xerox, and others. The company also provides travel businesses – including the world’s largest airlines, online travel agents and travel distributors – a new source of revenue and an attractive add-on service for their clients. FlitWays’ growing network of ground travel providers currently covers 220 major cities and 400 airports worldwide, and the company is projecting continued expansion in both enterprise (corporate) and travel business segments. Catching the eye of business and travel industry media, FlitWays has been featured in outlets such as CNN, FORTUNE, Fast Company, Reuters, New York Magazine, Skift, VentureBurn, Digital Journal, Travel Pulse, and many others.
Cautionary Statement Regarding Forward-Looking Information This press release may contain certain "forward-looking statements" relating to the business of FlitWays Technology Inc. All statements, other than statements of historical fact included herein are "forward-looking statements," including, but not limited to; the proposed corporate name change; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.