Petel Inc (Pink Sheets:PTEI), the Broadband TV and Digital Media specialists today announce the move to ‘Current Information’ on the Pink Sheets OTC.
On Thursday the 21st of February Petel Incorporated received approval by Pink Sheets OTC upgrading the company from ‘Limited Information’ to ‘Current Information’ having achieved full disclosure status.
‘We have worked hard to elevate the status of the company since our reverse merger in May of last year. We quickly instigated the filing of our 15c-211 in June giving the company the benefit of ‘solicited’ status with greater transparency and exposure and at that time signalled our intention to work our way up to the OTCBB. Attaining ‘Current Information’ is a vital step towards our goal and the board is now discussing and researching the next step to ‘Premier’ status with Pink Sheets QX. We are dedicated to moving the company forward and will continue to work exceptionally hard to develop our status further for future growth’, says CEO David Morton.
Petel Incorporated’s Quarterly Reports since debuting on Pink Sheets can be viewed here:
http://www.petel.co.uk/site/index.php?option=com_content&task=view &id=40&Itemid=52
(Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
Petel Incorporated’s forecasts and business plan are included in the Corporate Overview, published on the Investor Relations page at www.petel.co.uk
Petel Incorporated’ Annual report is due to be published by the end of March 2008.
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. The words "estimate," "project," "intends," "expects," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbour" provisions of the Private Securities Litigation Reform Act of 1995. For a more complete description of these and other risk factors that may affect the future performance of Petel, Inc. see "Risk Factors" in the Company's Annual Report on Form 10-KSB and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made and the Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.
Petel Inc
Phil Evans, +44 (0)20 3239 9140
enquiries@petel.co.uk
www.petel.co.uk