BOISE, Idaho, May 20, 2010 (GLOBE NEWSWIRE) -- Alternate Energy Holdings, Inc. (OTCQB:AEHI) today announced that its common stock temporarily ceased quotation on the Over-the-Counter Bulletin Board (OTCBB) but continues to quote on the OTCQB. AEHI has been, and remains, in full compliance with all SEC reporting and filing requirements.
OTCQB is a new market tier for OTC-traded companies that are registered and reporting with the U.S. Securities and Exchange Commission (SEC). OTCQB stocks are identified as "OTCQB - U.S. Registered" on www.otcmarkets.com, where real-time level 2 quotes are available for free to all investors.
The Company believes the change in status with regard to the OTCBB was due to the actions of a small Idaho market maker (Pennaluna) who had initially filed the Form 15C-211 on behalf of the Company and decided to no longer provide a 'bid/ask' quote on the OTCBB platform. Unfortunately, Pennaluna did not notify the company as would be expected.
"It is unfortunate we did not have prior notice to this market maker's decision, however, due to our listing on the OTCQB, we do not anticipate this change will have an effect on our investors' ability to buy or sell shares. In addition, there are numerous market makers currently making markets in AEHI stock on the OTCQB, and we are in discussions with several of these larger firms to submit the required regulatory filings in order to resume dual quotation on the OTCBB," said Don Gillispie, AEHI CEO. "One of our near term goals is to list on a senior national exchange, and this development will not affect our pursuit of this goal."
About Alternate Energy Holdings, Inc. (http://www.alternateenergyholdings.com/) -- Alternate Energy Holdings develops and markets innovative clean energy sources. The company is the nation's only independent nuclear power plant developer seeking to build new power plants in multiple non-nuclear states. Other projects include Energy Neutral™, which removes energy demands from homes and businesses (http://www.energyneutralinc.com/), Colorado Energy Park (nuclear and solar generation), and International Reactors, which assists developing countries with nuclear reactors for power generation, production of potable water and other suitable applications. AEHI China, headquartered in Beijing, develops joint ventures to produce nuclear plant components and consults on nuclear power.
"Safe Harbor" Statement: This press release may contain certain forward-looking statements within the meaning of Sections 27A & 21E of the amended Securities and Exchange Acts of 1933-34, which are intended to be covered by the safe harbors created thereby. Although AEHI believes that the assumptions underlying the forward-looking statements contained herein are reasonable, there can be no assurance that these statements included in this press release will prove accurate. As a result, investors should not place undue reliance on these forward-looking statements.