SAN DIEGO, Oct. 15, 2008 (GLOBE NEWSWIRE) -- Omnitek Engineering Corp. today announced that it began listing on the OTCQX for greater access to the U.S. capital markets.
Omnitek began trading today on PrimeQX, under the ticker OMTK. Investors can find real-time quotes, disclosure and financial information about Omnitek Engineering Corp. at www.otcqx.com.
Omnitek's CEO Werner Funk reports, "We are exited about the move-up to the PrimeQX Trading Market. This is part of our strategy to maximize shareholder value and a great steppingstone to the NASDAQ or AMEX. The added disclosure requirements will result in increased transparency for potential investors, brokers and analysts."
U.S. investment bank, Merriman Curhan Ford, will serve as Omnitek's Designated Advisor of Disclosure ("DAD") on the OTCQX, responsible for providing guidance on the company's OTCQX-listing requirements and arranging a comprehensive suite of U.S. capital markets services.
"Merriman is very pleased to sponsor Omnitek and to serve as their DAD," said Allen Blankenship, Vice President in Merriman's OTCQX Advisory Group. "With our leadership in the advising, financing and trading of small capitalization CleanTech companies, Merriman is uniquely positioned to raise this exciting company's profile amongst investors."
Omnitek Engineering Corp.
Omnitek develops and sells new natural gas engines, as well as a proprietary diesel-to-natural gas conversion system, which has established Omnitek as a leader in the industry. Omnitek offers a total system approach and is dedicated to supplying alternative energy and emissions control solutions that are sustainable, affordable and contribute to combat global warming. As the price of crude oil continues to increase and the threat of global warming and air pollution remains, the search for an alternative fuel becomes increasingly important. Natural gas has emerged as a perfect solution to these challenges. Readily available in many countries from indigenous sources, natural gas is inexpensive and clean burning.
Diesel engines have been the backbone of the transportation industry. Valued for their power, fuel economy and durability, diesel powered trucks and buses are used worldwide, however, they are heavy polluters and significantly contribute to global warming. Omnitek has developed a system to convert any existing diesel engine to a clean-burning natural gas engine at a fraction of the cost of a new engine.
Omnitek estimates the population of heavy-duty diesel vehicles and stationary engines around the world which can be converted using the Omnitek Diesel-to-Natural Gas Conversion System and offer the best ROI approaching ten million engines. Prevailing economic factors, rising oil prices, and the real threat of global warming make abundantly available and inexpensive natural gas the fuel for the future. For more information, please go to www.omnitekcorp.com.
Merriman Curhan Ford
Merriman Curhan Ford (Nasdaq:MERR) is a financial services firm focused on fast-growing companies and the institutions who invest in them. The company offers high-quality investment banking, equity research, institutional services, primary market research, asset management and corporate & venture services, and specializes in four growth industry sectors: CleanTech, Consumer/Internet/Media, Health Care and Tech/Telecom. For more information, please go to www.mcfco.com.
About OTCQX
OTCQX is a new market tier offered by Pink, LLC that provides a premier trading, quotation and disclosure venue for the securities of the highest quality companies trading over-the-counter. Companies that have substantial operating businesses and provide credible disclosure to the public may qualify for OTCQX. In addition, each OTCQX company must nominate a Designated Advisor for Disclosure (DAD) prior to being accepted. The DAD advisory role is designed to bolster investor confidence in the quality and availability of issuer disclosure.
Forward-looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks, uncertainties and assumptions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements. Some of the statements contained in this news release discuss future expectations, contain projections of results of operations or financial condition or state other "forward-looking" information. These statements are subject to known and unknown risks, uncertainties, and other factors that could cause the actual results to differ materially from those contemplated by the statements. The forward-looking information is based on various factors and is derived using numerous assumptions. Important factors that may cause actual results to differ from projections include, among many others, the ability of the Company to raise sufficient capital to meet operating requirements, completion of R&D and successful commercialization of products/services, patent completion, prosecution and defense against well-capitalized competitors. These are serious risks and there is no assurance that our forward-looking statements will occur or prove to be accurate. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.