PHOENIX, AZ / ACCESSWIRE / January 13, 2015 / Crexendo, Inc. (OTCQX: CXDO) (NYSE:EXE) ("Crexendo"), a hosted services company that provides hosted telecommunications services, website hosting, e-commerce software, website development software and broadband internet services for businesses and entrepreneurs, announced that it will begin trading today on the OTCQX(R) marketplace. The Company previously traded on the NYSE MKT exchange. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"Trading on OTCQX will enable Crexendo to maintain a transparent trading and information experience for investors as it focuses on growing its business and delivering long-term value to shareholders," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "We are pleased to welcome Crexendo to the OTCQX marketplace and look forward to working with the company now and in the future."
Steven G. Mihaylo, Crexendo Chief Executive Officer commented "Our decision to delist from the New York Stock Exchange and move to the OTCQX was made after carefully reviewing the OTCQX marketplace. We then determined that the trading platform provided substantial benefit and transparency for our investors. We will continue to provide not only the required information to investors, but information which should allow investors to make informed decisions. The move to OTCQX marketplace was made in concert with general reductions in cost made by the Company across the board. We are diligently working to continue to reduce our costs and bring the Company to profitability. I continue to remain confident that we are in the right space, with the right products and services. My recent stock investment of $2,000,000 (two million dollars) is an indication of my belief in the future of the Company."
About Crexendo(R)
Crexendo, Inc. is a hosted services company that provides website hosting, hosted telecommunications services, e-commerce software, website development software and broadband internet services for businesses and entrepreneurs. Our services are designed to make enterprise-class hosting services available to small, medium-sized and enterprise-sized businesses at affordable monthly rates.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for such forward-looking statements. The words "believe", "expect", "anticipate", "estimate", "will", and other similar statements of expectation identify forward-looking statements. Specific forward-looking statements in this press release include information about Crexendo (i) carefully reviewing the OTCQX marketplace and determined that the trading platform provided substantial benefit for our investors; (ii) continuing to provide not only required information to investors, but information which should allow investors to make informed decisions: (iii) making the move to OTCQX marketplace in concert with reductions in cost made by the Company across the board; (iv) working to continue to reduce ITS cash burn and bring the Company to profitability; (v) continuing to remain confident that IT is in the right space, with the right products and services and (vi) the recent stock investment by the CEO being an indication of his belief in the future of the Company.
For a more detailed discussion of risk factors that may affect Crexendo's operations and results, please refer to the Company's Form 10-K for the year ended December 31, 2013 and Form 10-Q for the period ended March 31, 2014, June 30, 2014 and September 30, 2014. These forward-looking statements speak only as of the date on which such statements are made, and the Company undertakes no obligation to update such forward-looking statements, except as required by law.
Crexendo Contact:
Steven G. Mihaylo
CEO
602-345-7777
[email protected]
SOURCE: Crexendo, Inc.