OMNIQ Corp. Announces Transition from NASDAQ to OTC Markets
Trading to Continue Under Same Ticker Symbol OMQS
Salt Lake City, June 26, 2024 (GLOBE NEWSWIRE) — OMNIQ Corp. (OTC PINK: OMQS) (“OMNIQ” or “the Company”), a leading provider of Artificial Intelligence (AI)-based solutions for supply chain management and data processing, today announced that its stock has transitioned from NASDAQ to the OTC Markets. OMNIQ’s stock continues to trade under the ticker symbol OMQS, ensuring uninterrupted market activity for its shareholders.
OMNIQ remains committed to maintaining the highest standards of corporate governance and transparency. Nasdaq determination to delist the company’s stock, effective May 7, 2024, is due to not meeting the minimum market value requirement of $35 million. OMNIQ remains fully compliant with all other regulatory guidelines and is actively taking steps to be relisted on a national exchange. This move reflects OMNIQ’s commitment to operational excellence and positions us for future opportunities.
Continuation on OTC Markets
OMNIQ’s stock has seamlessly transitioned to the OTC Markets, continuing to trade under the same ticker symbol, OMQS. Shareholders will not need to take any action as their investments remain secure and tradable.
Impact on Shareholders
OMNIQ assures its shareholders that this transition will not affect their holdings. The Company remains dedicated to delivering value and maintaining strong relationships with its investors.
“As we navigate this transition, our primary focus remains on delivering exceptional value to our shareholders and clients,” said Shai Lustgarten, CEO of OMNIQ. “We are committed to maintaining transparency and ensuring that our operations continue without disruption. We are taking all necessary steps to achieve a swift relisting on a national exchange.”
Company’s Strategic Direction
OMNIQ will continue its focus on delivering innovative AI-based solutions to a diverse range of industries, including supply chain management, homeland security, and public safety. Additionally, OMNIQ is expanding its portfolio with cutting-edge fintech products, new SaaS solutions, and advancements in mobile computing. These initiatives, along with our recent achievements and ongoing projects, demonstrate the Company’s robust market position and future potential. Our comprehensive suite of technologies is designed to enhance efficiency, security, and operational excellence for our clients.
ABOUT OMNIQ
OMNIQ Corp. is at the forefront of technological innovation, focusing on advanced AI technologies for computer and machine vision image processing. The company develops a variety of products including data collection systems, real-time surveillance, and monitoring tools. These products are essential for sectors like supply chain management, homeland security, public safety, and traffic & parking management, helping to ensure the secure and efficient movement of people, goods, and information through critical locations such as airports, warehouses, and national borders.
OMNIQ serves a diverse clientele, including government agencies and Fortune 500 companies across industries such as manufacturing, retail, distribution, healthcare, transportation, logistics, food and beverage, and the oil, gas, and chemical sectors. By integrating OMNIQ’s cutting-edge solutions, these organizations are better equipped to manage the complexities of their industries, enhancing their operational capabilities.
Financially, OMNIQ is strategically positioned in rapidly growing markets. The Company is making significant inroads into the Global Safe City market, projected to reach $67.1 billion by 2028, the smart parking market, expected to grow to $16.4 billion by 2030, and the fast-casual restaurant sector, anticipated to reach $209 billion by 2027, and the fintech market projected to grow to $1,152 billion by 2032. These market projections indicate strong potential for growth and the increasing demand for advanced AI technology solutions in these sectors.
Information about Forward-Looking Statements
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in omniQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting omniQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at https://www.sec.gov. omniQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.