Life-Exchange Files for OTCBB Listing
MIAMI, FL — (BUSINESSWIRE - January 25, 2007) — Life-Exchange, Inc., (PINKSHEETS:
LFXG), the largest and only independent, electronic trading platform for the secondary life insurance market, announced today that it has filed a Form 10-SB registration statement with the Securities and Exchange Commission (SEC) to obtain a listing on the Over the Counter Bulletin Board (“OTCBB”) and become a fully reporting company.
Commenting on this announcement, the Company’s CEO and President, David C. Dorr
stated, “Since our inception, our fundamental guiding principles have been to provide the secondary life insurance community with the highest degree of transparency, disclosure and compliance for conducting life settlement transactions. The filing of our Form 10-SB allows us to carry that over to the investor community and enhance investor confidence and interest as well as assist in making our stock more attractive to institutional investors.”
As a reporting company, Life-Exchange will be required to comply with OTCBB guidelines including filing annual reports on Form 10-KSB, quarterly reports on Form 10-QSB, and reports of unusual interim events on Form 8K. The Company will also need to solicit proxies for its annual meeting in accordance to Section 14 of the Securities Exchange Act of 1934. In addition, the Company’s officers and directors will be subject to the reporting requirements of Section 16 of the Exchange Act. Mr. Dorr added, “Upgrading the Company’s reporting and listing status is a significant milestone in our strategy to strengthen our position as the nation’s leading life settlement exchange. Our next goal is to work rapidly towards meeting eligibility requirements for joining a national trading market, such as NASDAQ and continue to grow the Company.” A copy of the filing may be found on EDGAR Online.
About Life-Exchange
Life-Exchange, Inc. is the nation’s largest and only independent, electronic trading platform for the life settlement industry. Designed by industry leaders, Life-Exchange serves the secondary life insurance market by bringing buyers and sellers of life settlement policies together in a virtual, online marketplace. The features of Life-Exchange are specifically designed to improve regulatory compliance, increase customer value, reduce transaction costs, create new revenue models, and add efficiency to an otherwise inefficient market. Founded in 2004, Life-Exchange is headquartered in Miami, Florida. For additional information on Life-Exchange, Inc. visit www.life-exchange.com or call 866-907-9766.
You also find Life Exchange information at Life Settlement Auctions.
