OT: OTCNN - Ticker Spamming?
Recently Launched OTCBB Stock News Site Receiving 1.5 Million Hits Per Month
OTC News Network Attracting Small and Micro-cap Investors in Large Numbers
HOUSTON, Jun 28, 2000 (BUSINESS WIRE) -- OTC News Network, Inc., a privately-held company that is partially owned by Houston InterWeb (OTC BB: HITD chart, msgs), announced today that after only six weeks of operation, it is already receiving hits at a pace of 1.5 million per month to its online financial news site, www.otcnn.com. OTCNN is the first major daily online news source focusing exclusively on providing unbiased daily news coverage of the Over-The-Counter Bulletin Board (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.
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.
OTCNN (www.otcnn.com) was launched on May 10th as the first and only unbiased news source for the emerging OTCBB stock market. Unlike other stock sites focusing on the Over-The-Counter Bulletin Board stocks, OTCNN does not accept any paid content whatsoever. This approach has sent OTCNN's traffic volumes soaring, even with very little marketing.
"OTCNN is becoming widely popular with OTCBB investors," says Ian Gorman, CFO for OTC News Network. "We are encouraged by the tremendous response so far in the marketplace. We will continue to add top quality resources to both our editorial and marketing team. We have already begun discussions with other major financial sites in an effort to become an independent news provider for them."
"Clearly, the investment community understands that since our business model is not based on paid editorial content, we are very similar to sites like CNBC.com (NYSE: GE chart, msgs), CNN.com (NYSE: TWX chart, msgs) and TheStreet.com (Nasdaq: TSCM chart, msgs). Since we are completely objective with our OTCBB news coverage, we provide a unique service and have a huge market in which to continue growing," adds Gorman.
OTCNN has recently published articles about OTCBB companies such as Medizone (OTC BB: MZEI), Phoenix Resource Technologies (OTC BB: PRTI), Clancy Systems International, Inc. (OTC BB: CLSI), New Visual Entertainment Inc. (OTC BB: NVEI), NCT Group, Inc. (OTC BB: NCTI), Loch Harris Corp. (OTC BB: LOCH), MPTV, Inc. (OTC BB: MPTV) and InvestAmerica, Inc. (OTC BB: INVT).
About OTCNN
OTC News Network, www.otcnn.com, is the first daily online news media focusing exclusively on providing unbiased and reliable news on companies listed on the Over-The-Counter Bulletin Board (OTCBB). OTC News Network's business model is unique as well. Instead of relying on advertising revenues or paid content, OTC News Network works together with companies that provide professional services to OTCBB listed companies. For more information on OTC News Network, visit www.otcnn.com. Houston InterWeb Design, Inc., a publicly traded company, currently has a 20% interest in OTCNN, which is a privately held company.
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 sole source of this information is OTC News Network. This information is not a recommendation to buy or sell securities of Houston InterWeb Design or of any other publicly traded company.
siliconinvestor.com
I wonder why they left out the section about Merger Communications...
Diz- |
