NEWPORT BEACH, Calif., July 31, 2012 (GLOBE NEWSWIRE) -- WebSafety, Inc., (OTCQB:WBSI), the leading online security software provider of mobile phone applications protecting children from cyber-bullies, sexual predators, and texting-related car injuries, today announced that its shares have been trading on the OTCBB marketplace through OTC Markets Group's OTC Link(R) quotation platform.
"On July 23, 2012, Bloomberg Businessweek published a statement that WebSafety was deleted from the OTCBB due to inactivity under SEC Rule 15c2-11, nothing could be further from the truth. As of July 30, 2012, WebSafety was still quoted on the OTCBB. WebSafety is current on all of its SEC reports and is fully listed on the OTC Market's Group OTCQB Trading Platform which we believe is a better trading and information platform for WebSafety. We have requested that Bloomberg Businessweek immediately remove the incorrect new release, issue an apology and a correction.
"Market makers and broker-dealers prefer the OTC Link ATS online electronic trading system. We believe that many broker-dealers have moved away from the telephone-based OTCBB trading system, preferring to trade using the OTC Link platform. WebSafety's quotation and other available information on the OTCQB marketplace and onto the OTC Link system is a positive change that makes our stock more transparent and efficient," according to Rowland W. Day II, CEO of WebSafety.
According to otcmarkets.com, over 900 publicly traded companies have recently moved from being quoted dually (OTCBB and OTC Link) to being quoted exclusively on the OTC Link platform. Priced quotes published on OTC Link comprise 99% of priced quotes in the OTC marketplace. The quoted company movement and the level of quoting activity indicate the support that market makers and broker-dealers have provided for the electronic OTC Link system, with an increasing trend of quoting exclusively on this platform.
Shareholders and potential investors can now obtain detailed WebSafety trading information at http://www.otcmarkets.com/stock/WBSI/quote.
For more information about OTC Markets Group, visit their web site at www.otcmarkets.com.
About WebSafety, Inc.
WebSafety, Inc. is the leading provider of mobile phone software solutions that notify parents and employers of cyberbullying, explicit or degrading texting, and suspicious or unlawful online behavior. The mobile software applications support devices using Android and BlackBerry wireless operating systems, and operate on all four of the major wireless carriers in the United States and the three major wireless carriers in Canada. For more information, please visit http://www.websafety.com.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX:OTCM) operates the world's largest Open, Transparent and Connected financial marketplace platform. Our OTC Link(R) ATS directly links a diverse network of broker-dealers that provide liquidity and execution services in almost 10,000 equity and debt securities. We organize these securities into marketplaces to inform investors of opportunities and risks-OTCQX(R) –The Intelligent Marketplace for the Best OTC Companies; OTCQB(R) –The Venture Marketplace; and OTC Pink(R) –The Open Marketplace. Our information and data-driven platform enables trading through any broker at the best possible price and empowers companies to improve the quality and availability of information for their investors. To learn more about how we create smarter financial marketplaces, visit www.otcmarkets.com.