Leatt Corporation, a South Africa-based developer of personal protective equipment for athletes in extreme sports, has been approved to continue quotation of its securities on OTCQB, effective as of Aug. 1.
The OTCQB marketplace, operated by OTC Markets Group Inc., has long replaced FINRA's OTC Bulletin Board as the primary marketplace for off-exchange-traded companies that are current in their reporting to the U.S. Securities and Exchange Commission or a bank regulator. OTC Markets Group recently established new eligibility standards for the OTCQB, aimed at improving the quality of information available to investors and making it a better venture stage marketplace for early and developing U.S. and international companies. OTCQB companies that do not comply with the new standards within the required timeframe will be downgraded to the OTC Pink marketplace.
“We are very pleased that our securities have been approved for continued quotation under the new OTCQB eligibility standards,” said Leatt CEO Sean Macdonald. “We have worked diligently over the years to grow our Company and maximize shareholder value, and we wholeheartedly support the mission of OTC Markets Group to provide increased transparency to investors so that they can properly analyze, value and trade their securities.”
The company also announced it will announce its results for the second quarter ended June 30, Thursday, Aug. 14.
Based in Cape Town, Leatt develops personal protective equipment and ancillary products for all forms of sports, especially extreme motor sports. The Leatt-Brace is an award-winning neck brace system considered the gold standard for neck protection for anyone wearing a crash helmet as a form of protection. It was designed for participants in extreme sports or riding motorcycles, bicycles, mountain bicycles, all-terrain vehicles, snowmobiles and other vehicles.
