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Systems America to Move to Pink Sheets "Current Information Tier"
Jul 24, 2012 (05:07 PM EDT)
Planning to list on NYSE Euronext or NASDAQ as one of the First Cloud Computing, Mobile Application and Social Media Services Focused Company
SAN RAMON, Calif., July 24, 2012 /PRNewswire/ -- Systems America, Inc. (OTC: SYAI) (the "Company"), a premier provider of cloud computing and information technology solutions, announced today following the closing of the market today, it received notice that Pink OTC Markets finished processing the Company's Annual Report for the year 2011, Quarterly Reports for the period ending March 31, 2012, and June 30, 2012. OTC Markets indicated that it intends to move the Company to the Pink Sheets "Current Information" tier before the next market open on July 25, 2012. The Company is preparing the required filings to be filed with Securities and Exchange Commission (SEC) and other regulatory agencies, and expects to complete all filing to be a current filer in the second half of 2012.
"Systems America has generated strong momentum in its operations and financial results over the past two years, which has been reflected in its revenue growth, profitability, shareholder equity. In light of this progress, the Board of Directors is preparing to take the necessary steps to list the Company's ordinary shares on NYSE Euronext or NASDAQ, to provide greater exposure to a broader base of investors. The support of Systems America's shareholders while making this important transition to the National Stock Exchange is an indication of their resounding confidence in the Company's long-term business opportunities," commented Adesh Tyagi, Chairman & CEO of Systems America, Inc. "Systems America is well positioned to expand its role in the Cloud and Mobile markets through a range of innovative enterprise-class software solutions and social media services. We believe that the additional exposure and credibility Systems America will receive with its customers and partners as NYSE Euronext or NASDAQ listed company will also help advance its business."
About Systems America
Systems America is a premier provider of diversified cloud computing and information technology solutions to commercial and government clients worldwide. We are ranked one of the fastest growing companies with multiple locations around the world. Systems America delivers superior cloud computing, information technology consulting services, and systems and integration services to hundreds of clients worldwide. Building on a core competency of efficient technology infrastructure outsourcing, the company is headquartered in San Ramon, California, United States. For additional information about Systems America, please visit http://www.systemsamerica.com.
Forward-Looking Statements Disclosure
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Systems America, Inc.