HOUSTON, Texas, Sept. 27, 2000 (PRIMEZONE) -- OTC News Network (www.otcnn.com) announced today its latest feature, the Morning Update. The new service brings OTCNN's readers features like the morning's hottest headlines, "Stocks to Watch", "Traders Chat" and "Market Briefing" -- everything that OTCBB focused investors need to start their day well-informed. The companies in today's Morning Update included high profile OTCBB companies such as Sideware Systems (OTCBB:SDWSF), Infotopia (OTCBB:IFTP), Imaging Diagnostic Systems (OTCBB:IMDS), Advanced Viral Research (OTCBB:ADVR) as well as Sun Microsystems (Nasdaq:SUNW).
OTCNN is the first major daily online news source focusing exclusively on providing unbiased daily news coverage of the Over-The-Counter Bulletin Board, or OTCBB, stock market, the companies that trade there and the trends that affect them and their shareholders.
"We think our newest editorial addition, the Morning Update, will add a lot of value to aggressive OTCBB investors," says Salvatore "Sam" Mele, president of OTC News Network, Inc. "We are already the only major unbiased stock news site to provide updated reports throughout the trading day on OTCBB movers and shakers. The Morning Update is the perfect addition to our existing Mid-day Market Watch and After Market Summary features. Now, instead of waiting until noon to find out what's going on in the market and which stocks are moving, investors can just log on to www.otcnn.com and read the most relevant stories between 10-11 a.m. EST."
In addition to company related content, OTC News Network has also added resources in the commentary section. Today's news commentaries included interesting insight into the world of stock pick newsletters and shorting in Canada.
About OTC News Network
OTCNN is the first major daily online news source focusing exclusively on providing unbiased daily news coverage of the OTCBB stock market, the companies that trade there, and the trends that affect them and their shareholders. The OTCBB is a market supported by the National Association of Securities Dealers (NASD), the organization behind Nasdaq. OTCNN's business model is not based on paid editorial content, making the news source similar to sites like CNBC.com (NYSE:GE) and (Nasdaq:NBCI) and TheStreet.com (Nasdaq:TSCM).
OTC News Network's business model is unique. Instead of relying on advertising revenues or paid content, OTC News Network provide a wide variety of professional services to publicly traded companies. For more information on OTC News Network, visit www.otcnn.com.
About the OTC Bulletin Board Market
In early 1999, the National Association of Securities Dealers (NASD) and the Securities and Exchange Commission teamed up to increase the legitimacy of the OTCBB marketplace. One of the most significant changes was the NASD's new Eligibility Rule, approved by the SEC on January 5, 1999. The rule states that only those companies that report their current financial information to the SEC, banking or insurance regulators may be quoted on the OTCBB. As a result of these changes, the OTCBB started its transformation from a wild, unregulated market consisting of non-reporting companies, to a more legitimate marketplace.
The OTCBB is the fastest growing stock market in the U.S. Currently, there are over 3,900 companies listed on the OTCBB. Even though the number of companies listed has temporarily gone down, the OTCBB's trading volumes in dollar terms continues to go up. The total dollar volume went up from $33.4 billion in 1998 to $63.1 billion in 1999, and has continued to increase steadily. During the first five months of this year, total dollar volume alone represented $80.6 billion. It is apparent that more and more investors are finding this `new' marketplace, and want to find more information on the companies they are interested in.
NOTE: The sole source of this information is OTC News Network, which is a privately held company. The information is for media use only. This is not a recommendation to buy or sell securities of any other publicly traded company mentioned in this press release.