NOTE: This company now trades as GeneSYS ID, Inc. (OTCQB: GNID).
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Company Takes First Steps Towards National Listing
HENDERSON, NV — (Marketwired) — 12/03/15 — Rx Safes Inc. (OTC PINK: RXSFD, RXSF), the developer of autonomous, embedded fingerprint healthcare security products, announced today that it has applied to the OTCQB Venture Marketplace for listing. The Company also reiterated its strategy to create greater opportunity for its shareholders and attract new retail and institutional investors by eliminating its debt through a new comprehensive funding arrangement. The Company, based in Henderson, Nevada is developing a line of fingerprint secured products for consumers and professional healthcare providers to secure the storage, transportation and dispensing of controlled substances.
The OTCQB is considered by the SEC as an “established public market” for the purpose of determining the public market price when registering securities for resale with the SEC. The OTC Pink is not considered as such and most broker dealers will not trade or recommend OTC Pink stocks. Because the OTCQB dramatically increases transparency, reporting standards, management certification and compliance requirements, the majority of broker dealers trade stocks on the OTCQB. Historically this has resulted in greater liquidity and awareness for companies that reach the OTCQB tier.
“We are pleased to announce our application to up-list to the OTCQB Marketplace,” stated Lorraine Yarde, Chief Executive Officer of Rx Safes, Inc. “Rx Safes is committed to the high level of financial and corporate disclosure that is required for this listing category and this is demonstrated in our rapid up-list to the OTCQB,” Ms. Yarde added. “This move represents our continued commitment to our shareholders and we believe that trading on the OTCQB will enhance trading liquidity, broaden our shareholder base and continue to increase market adoption of our products and solutions as the company prepares for listing on a national exchange.”
In addition, Rx Safes’ management has reiterated its strategy to eliminate corporate debt by retiring all outstanding convertible debt through new financing to be announced. The Company is finalizing an agreement with its primary lender that limits debt conversion impact on the market by placing strict leak-out protocols on such sales.
These milestones open the doors to institutional investors and market makers who were not previously able to buy and sell shares of our Company. Meeting the increased compliance and information requirements of OTCQB provides our investors greater confidence in the information disclosed by the Company and ensures our commitment to accountability and transparency. We will continue working towards our goals of up-listing to a national exchange such as the NASDAQ and will announce our efforts to meet those listing requirements as they develop.
About Rx Safes, Inc.
Rx Safes is an emerging leader in the personal and professional healthcare drug security market. Our products incorporate proprietary patented fingerprint technology to provide drug security solutions for use in homes and healthcare facilities. Prescription drug misuse, skyrocketing insurance and pharmaceutical treatment costs and increased regulatory pressures create an unfortunate, yet necessary opportunity for Rx Safes to expand our reach and offerings in this growing market, valued at over $50 billion annually. Annual spending on healthcare technology products exceeds $34.5 billion. In addition, the market is being driven by ongoing Government support for successful drug abuse prevention initiatives, with a financial commitment of $25.4 billion in 2015 alone. For more information, please visit www.rxdrugsafe.com
Forward-Looking Statements for RXSF: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company’s business strategy. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company’s ability to implement its long range business plan for various applications of its technology; the Company’s ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company’s technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company’s reports filed with the Securities and Exchange Commission.
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RX Safes Inc. is a client of StockGuru.com / StockGuru. We are being compensated seventy-two hundred dollars and eighteen thousand dollars total value in shares to be paid during the next twelve months divided into in three separate issue dates. Share price of the compensated shares are not at a discount to market and will be restricted under Rule 144. StockGuru, McKinney, Texas 75070. Telephone: 469.358.5200. No person or entity associated with StockGuru.com owns any free trading shares, warrants or other shares not mentioned in this disclosure of RXSF stock.