LONDON, Oct. 11, 2006 (PRIMEZONE) -- Quantech Electronics Corp. (Pink Sheets:QTCE), software developer for marketing communications, announced that it has ordered a shareholder list from the transfer agent and will review it against the NOBO list which it has obtained to clarify all owners of its issued and outstanding shares in an effort to resolve irregularities with the trading of its shares.
Once comparing the NOBO list from ADP to the current transfer agent list, the company will be able to determine if there is a share imbalance. The NOBO list is a non-objecting beneficial owners list that offers the names and share positions of the clients of banks and brokers who hold their positions in street name. The company requested a NOBO list to determine if there is a significant failure to deliver position in their stock.
"We have ordered our shareholders' list from our transfer agent in order to explore recent peculiarities in Quantech's stock movements in depth. The transfer agent's list will provide a more complete picture on the recent stock movements and allow us to determine their source. Any significant short position will obviously be corrected," notes Liat Matilsky, CEO of Quantech.
About Quantech
Quantech Electronics Corp. is a web-based software development company based in the UK, that offers development services focusing on web-based desktop communication tools, call center support tools, and development packages designed to enhance the effectiveness of web-based advertising and instant messaging. The company's powerful, easy-to-use software enhances the effectiveness and efficiency of its customers' online and offline businesses. Driven to provide comprehensive solution packages for their clients' entire online business needs, Quantech focuses on customized developments for medium to large businesses, as well as start-ups. Quantech's unique technologies and rapid-response systems construct client infrastructure at competitive prices.
Forward-Looking Statements
Certain statements in this news release may contain 'forward-looking' information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward-looking statements that may involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.
To contact Quantech or access more information, please visit our web site at http://www.quan-tech.co.uk