Connecting the OTC Market with Innovative Technology and Data Solutions

Connecting the OTC Market with Innovative Technology and Data Solutions Pink OTC Markets Inc. operates the leading electronic quotation, trading and...
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Connecting the OTC Market with Innovative Technology and Data Solutions

Pink OTC Markets Inc. operates the leading electronic quotation, trading and messaging system in the U.S. over-the-counter (OTC) securities market. Through its quotation, trading, and information platforms, Pink OTC Markets provides technology services and information products that efficiently connect market participants, improve price discovery, increase issuer disclosure and better inform investors. The over-the-counter market has evolved significantly over the past several years from both a technological and a regulatory perspective, creating a more efficient and effective market for participants and investors. Pink OTC Markets remains committed to providing innovative trading technology and valuable market information in a cost effective manner.

With two market tiers – OTCQX and Pink Sheets – Pink OTC Markets is the third largest U.S. equity dollar trading venue in the U.S. after NYSE and NASDAQ. Pink OTC Markets provides a broad and comprehensive suite of products and services for every segment of participants in the OTC market.

$ Volume (Billions)

*

Pink OTC Markets is a Global Leader in Equity Markets

*December 2007

$ Volume (Billions)

The Majority of all Trading in the OTC Market occurs in OTCQX and Pink Sheets stocks OTCQX and Pink Sheets OTCBB

OTCQX and Pink Sheets OTCBB

86%

OTCQX and Pink Sheets securities represent 86% of the $45 Billion traded in the OTC market in the first quarter of 2008

$ Volume (Billions)

14%

Volume in Pink OTC Markets has grown over 300% in last 4 years

Pink OTC Markets Transparent. Informed. Efficient. Pink OTC Markets harnesses modern technology to seamlessly connect broker-dealers, issuers, investors, and market data distributors. A robust electronic infrastructure provides the platform for a highly efficient OTC market at a lower cost than a traditional securities exchange. The U.S. OTC market is founded upon a system of competing market makers. Pink OTC Markets’ quotation, trading and messaging system allows these market makers to make markets and trade efficiently. This information is disseminated on a real-time basis to our network of over 230 active broker-dealers. The largest NASDAQ market makers are also the leading liquidity providers on the Pink OTC Markets platform. Active participation by these leading firms greatly enhances price discovery, execution quality and market liquidity.

in the same way they do for NYSE and NASDAQ stocks. Leading full-service and online brokers now provide Pink OTC Markets’ Real-Time Level 2 Quotes to their customers. The average order execution time for an OTC security on Pink OTC Markets’ platform is 11 seconds. Pink OTC Markets is not a stock exchange or a brokerdealer. Instead, Pink OTC Markets is a non-exclusive securities information processor for registered brokerdealers.

Retail investors can use their primary brokers to trade in OTCQX, OTCBB, and Pink Sheets securities

Top Market Makers and Broker-Dealers

. . . . . . . .

ARCAEDGE AUTOMATED TRADING DESK CITIGROUP GLOBAL MARKETS E*TRADE FINANCIAL GOLDMAN SACHS HILL, THOMPSON, MAGID & CO. HUDSON SECURITIES INTL TRADING

. . . . . . . .

JANE STREET MARKETS JEFFERIES & CO. KNIGHT EQUITY MARKETS LEHMAN BROTHERS MERRILL LYNCH SCOTTRADE TD AMERITRADE UBS SECURITIES

Connecting the OTC Market Offering widespread access to all U.S. FINRA-member broker-dealers allows liquidity providers to compete, market makers to deliver best execution and investors to obtain real-time information about OTC securities and their issuers.

Issuers

Investors

Brokers-Dealers

Market Makers

Market Data Distributors

Companies that Provide Current Disclosure See More Investor Participation The over-the-counter market is made up of over 8,800 securities issued by companies that range from strong, trusted companies that are worthy of investor consideration to troubled or highly questionable companies that should be avoided by investors. Pink OTC Markets casts a light on this diverse group of issuers by using an easy-to-understand system, called the OTC Market Tiers, that categorizes all OTC companies based on their credibility and level of disclosure. Companies that demonstrate their commitment to investors through enhanced market transparency and timely disclosure, that have on-going business operations, and that meet Pink OTC Markets’ listing requirements are eligible to list on OTCQX - the premier OTC Market Tier. OTCQX is the only highly

visible electronic trading venue in the U.S. that does not require SEC registration. All other companies are categorized based only on their ability and willingness to provide current disclosure to the market. Companies providing Current Information signal to investors that they care about being transparent to the market. Companies with Limited or No Information send a message that they are financially distressed and/or do not consider investors to be priority stakeholders in the company.

Companies that do not provide public disclosure represent less than 2% of the total dollar volume traded.

OTC Market Tiers evel of business operations, including companies traded on OTCBB.

The highest tier for companies listed on a non-U.S. exchange that want a cross-listing in the U.S. on a credible market tier, and the highest primary market tier for U.S. companies that trade over-the-counter

TRUSTED

ISSUER LISTED - Companies apply to list and undergo a screening process

BROKER QUOTED - Market maker(s) publish quotes based on trading interest or customer demand

Securities quoted solely on FINRA’s OTCBB

TRANSPARENT

Identifies securities that are quoted on both Pink Quote and OTCBB

Dark and defunct companies that do not provide disclosure to the public markets - either to a regulator, an exchange or Pink OTC Markets

NOT QUOTED - No Broker-Dealer is willing or able to publish quotes for these securities There are no market makers in this security. It is not listed, traded or quoted on any U.S. stock exchange, the OTCBB or Pink Quote

DARK / DEFUNCT

Companies that have financial reporting problems or are in economic distress that cannot or choose not to provide current and adequate disclosure

DISTRESSED

Pink Sheets securities that provide adequate current information in accordance with Pink OTC Markets’ Guidelines or that are current in their required reports to a regulator such as the SEC, FDIC, or a qualified exchange

Buyer Beware. There is a public interest concern associated with the company, which may include a spam campaign, questionable stock promotion, known investigation of fraudulent activity, regulatory suspensions, or disruptive corporate actions

TOXIC

WARNING FLAG - Buyers beware of companies in this category

Providing OTC Market Data to Investment Professionals and Retail Investors More than 40 market data distributors, including Bloomberg and Thomson Reuters, disseminate OTCQX, OTCBB and Pink Sheets market data and security information on a global basis using Pink OTC Markets’ market data products. Leading online retail brokers provide Pink OTC Markets’ Real-Time Level 2 Quotes to their customers and display OTC Market Tier information for each security. Pink OTC Markets offers the most comprehensive repository of current and historical quotation data for the U.S. OTC equity market. Designed to meet the varied business and investment needs of all OTC market participants – broker-dealers, issuers, investors, order management systems and market data distributors – market data products include: • OTC security quotation data from Pink Quote, Pink OTC Markets’ inter-dealer quotation system where market makers in OTCQX, OTCBB, and Pink Sheets securities maintain and communicate quotation price, size, and time in OTC securities

CSVI

Enter Symbol:

• A variety of mass-distribution or enterprise licenses, website licenses, individual subscriber licenses and customized data solutions available to fit individual customer needs • Flexible data feeds through Pink OTC Markets’ proprietary, direct Pink Feed or through third-party market data distributors • Quotation and related information on a real-time or 15 minute delayed basis • Creation of custom screens and capabilities for traders, compliance professionals, investment advisers and other investment professionals as well as investors in OTC securities

Go

Computer Services Inc KY: PINKS / CUSIP : 20539A105 Common Stock Last Trade 34.40 Bid 34.40 Previous 34.40 Dav’s Range 34 40- 35 25 15:10:31 ET

PMRQX, OTCQX-PremierQX, Current Information

Change 0.00 (0.00%) Ask 35.00 Open 35.25 Volume 559 Right click for menu.

Java Applet Window

PE-Ratio 15.64 EPS/Dividend 2.20 / 0.16 Market Cap 0 52 Week Range 29.55 - 42.00 Copyright Info

Products for the Trading Community Over 230 financial service firms, including the largest U.S. investment banks, use Pink OTC Markets’ trading platform to trade over $160 Billion in OTCQX, OTCBB and Pink Sheets securities annually. Pink OTC Markets offers high-value, low-cost solutions for the broker-dealer community. Our mission is to provide simple, straightforward and useful products at the lowest possible price.

Pink Quote Pink OTC Markets’ inter-dealer quotation system where market makers in OTCQX, OTCBB, and Pink Sheets securities maintain and communicate quotation price, size, and time in OTC securities.

Pink Link Pink OTC Markets’ inter-dealer electronic messaging system that enables market participants to negotiate trade executions in OTC securities. Pink Link integrates seamlessly with OTC Dealer, allowing traders to negotiate, execute or decline OTCQX, OTCBB and Pink Sheets orders.

Equity Pricing Products Pink OTC Markets offers several end-of-day pricing products, including the FINOP Report which helps broker-dealers prepare their monthly FOCUS report, the End-of-Day Market Data Service and the OTC Quote History Service which provide closing price and market maker information for all OTC securities quoted on Pink Quote, and Library Research Service which provides customized historical data solutions.

OTC Dealer The premier application for market makers and other broker-dealers to view, update, and trade all OTC equity securities. OTC Dealer shows a full Real-Time Level 2 Quote montage for OTCQX, OTCBB, and Pink Sheets securities.

OTCQuote.com A web-based, real-time, view-only quote service designed for agency traders and institutional investors. Displays the full quote montage of inside market quotes and market maker contact information. Security lookup features and detailed price history are also available.

Pink Feed A real-time market data feed for vendors that delivers Pink OTC Markets’ Real-Time Level 2 Quotations, offering view-only access to the entire Pink Quote montage, including the top of the book for all OTC securities.

Pink FIX Pink OTC Markets’ FIX communication protocol powers three core broker-dealer services – quote contribution to Pink Quote, order messaging and routing via Pink Link, and routing of execution reports to internal or OMS execution systems.

Information and Disclosure Products for OTC Traded Companies NEWS & PRESS | ABOUT OTCQX | CONTACT US | FAQ

FIND A QUOTE

Market Tiers

Enter a Symbol

DAD / PAL Advisors

VIEW COMPANY LIST

Listing

Services

Gateway to U.S. Markets OTCQX is a new market tier organized by Pink OTC Markets Inc. that sets apart a select group of issuers as worthy of consideration by U.S. investors. Qualified issuers use the efficient and robust OTCQX listing process to provide credibility and visibility of disclosure to investors. OTCQX is designed to meet the needs of small to medium sized, publicly-traded U.S. companies and non-U.S. companies listed on qualified international stock exchanges.

read more

Latest OTCQX News June 2, 2008

Investor interest is influenced by a company’s willingness to provide timely, current information to the market. Pink OTC Markets offers OTC issuers convenient services that are designed to facilitate price discovery, promote market transparency, enhance liquidity and improve market efficiency. OTCQX & International OTCQX

Real-Time Level 2 Quote Display

The only listing process in the over-the-counter market that offers strong companies a premier OTC Market Tier and greater visibility among investors.

Allows companies to provide the market with the full montage of market marker quotes in real-time on www.pinksheets.com and on the company’s investor relations website.

OTC Disclosure & News Service Enables issuers to post financial information, company disclosure and news releases on www.pinksheets.com for easy and efficient communication to investors. By posting their disclosure on pinksheets.com, companies show a commitment to providing transparency and can improve their OTC Market Tier to Current Information or Limited Information.

OTC Market Report Daily and weekly summaries of a company’s stock performance conveniently delivered via email. It keeps key officers, board members and shareholders informed.

Blue Sky Advisory Service A means for companies to stay on top of their U.S. Blue Sky compliance so that brokers can recommend the stock to their clients.

Tools for Investors

Pink OTC Markets operates www.pinksheets.com the primary web portal for information about all OTC equity securities. This website provides real-time quote and trade data and related trade information, as well as issuer supplied company information and disclosure that is not available anywhere else. Over 20 Million pages are viewed each month and the site is ranked #1 among all U.S. securities markets websites in terms of average time spent on it by investors.

With many non-SEC reporting companies using the Pink Sheets website to post financial reports and other disclosure, Pink OTC Markets is the main source of market and company data for investors researching OTC securities.

Pink OTC Markets Inc. 304 Hudson Street, 2nd Floor New York, New York 10013 [email protected] (212) 896-4400

OTC M AR KE TS

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