GAINESVILLE, Fla., March 10, 2010 (GLOBE NEWSWIRE) -- Quick-Med Technologies, Inc. (OTCBB:QMDT) stated today that it had recently learned that certain public websites that provide bid/ask quotations for small cap stocks may not provide complete information on bids and/or offers in Quick-Med stock. In particular, bid/ask quotes of at least one significant market maker have recently been omitted from some sites. Therefore, certain sites such as Yahoo Finance or OTCBB.COM have recently not shown all available bids or offers in Quick-Med stock.
The Company notes that, at present, websites referred to as OTC Markets (www.otcmarkets.com) and ETRADE (www.etrade.com) provide more complete data on the best bid/ask quotations in the Company's common stock compared with other comparable stock quotation websites. Investors should be aware that not all available market quotations may be shown at certain publicly available websites and should consider accessing multiple sources for more complete stock quotations.
On November 6th 2009, the Financial Industry Regulatory Authority (or FINRA) proposed to the Securities and Exchange Commission a rule change that, if implemented, would eliminate this discrepancy in market quotations, which may affect over 3000 companies. The proposed rule, SR-FINRA-2009-077, may be found at http://www.sec.gov/rules/sro/finra/finraarchive/finraarchive2009.shtml with publication date of November 13th, 2009.
In the coming months, the Quick-Med Technologies plans to strengthen its investor relations process, including enhanced website support and retaining an investor relations specialist to increase communication regarding the Company's developments to the investment community along with the related goal of broadening the Company's shareholder base. The Company believes that improved communication and liquidity is a benefit to all shareholders. Details of these steps will be made public over the next few months.
About Quick-Med Technologies, Inc.
Quick-Med Technologies, Inc. is a life sciences company that is developing innovative technologies for the healthcare and consumer markets. Quick-Med is developing NIMBUS® and NimbuDerm™ applications in several advanced medical device formats including wound care dressings, adhesives, medical grade thermoplastics, and skin sanitizers. NIMBUS is the FDA-cleared technology that has been commercialized in a line of wound dressings. The Company's MultiStat® compounds are commercialized in skin care products. The company has also recently announced its Stay Fresh™ technology for apparel and other textile applications. For more information, see: www.quickmedtech.com
© 2010 Quick-Med Technologies, Inc. All rights reserved. NIMBUS® and MultiStat® are registered trademarks and NimbuDerm™ and Stay Fresh™ are trademarks of Quick-Med Technologies, Inc.
Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements contained in this release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "may", "will", "to", "expect", "plan", "believe", "anticipate", "intend", "could", "would", "estimate", and/or "continue" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements involve risks and uncertainties, including those risks that are discussed in the Company's filings with the Securities and Exchange Commission ("SEC"), which may be accessed at the SEC's Edgar System at www.sec.gov.