NEW YORK, NY / ACCESSWIRE / May 26, 2015 / Advanced Lighting Solutions Inc. (OTCPK: AVLS), transitioning to formally be known as CP Incorporated, Inc. ("AVLS" or the "Company"), announced today that the Company's wholly owned subsidiary, the OTC Exchange Inc. ("OTCE"), is rapidly advancing OTC Exchange ATS, having now completed is WebCRD application and required ATS registration, with FINRA
and the SEC, respectively. The Company expects to soon beta test its
ATS for an anticipated 2015 launch of a formidable alternative to
current micro-cap exchange systems.
"We are rapidly advancing OTC Exchange ATS with FINRA
and the SEC, working diligently to ensure that our pending membership
and registration documentation is in good order," said James Morgan,
President of CP Incorporated, Inc. (currently known as Advanced Lighting
Solutions, Inc.). "We seek to safeguard the anticipated future status
of our product being entitled to use WebCRD (Central Registration Depository (CRD/Web CRD)), and, becoming an SEC approved ATS (Alternative Trading System)."
OTCE completed its application to become a CRD member of FINRA
on May 18th, 2015. This gives the Company access to an automated
database where historical records on registered securities
representatives, principals and employees of member firms are
maintained; making for efficient electronic form and data submissions. In addition, on May 18th, the OTCE
forwarded the required ATS registration documentation to the SEC to
become an Alternative Trading System, which allows the OTC Exchange ATS
to become an alternative venue [trading exchange] for the public markets - particularly micro-caps.
As a broker-dealer and an ATS, OTCE
will operate the OTC Exchange ATS as a true inter-dealer quotation and
messaging system. This system is anticipated to provide an array of
functionality, inclusive of fully attributable Over the Counter
(OTC) trade execution, real time quotes, charting and messaging
services, to a vast network of professional and non-professional
subscribers. Management expects that users of today's known current
trade system process, should find an easy transition to the OTCE's ATS, a seamless transition and "a refreshing option for the broker dealer community," stated Mr. Morgan.
Mr. Morgan concluded, "Our mission is simple. To operate a 'truly'
non-biased, open, transparent and connected marketplace; linking
broker-dealers and providing investors with the necessary tools to best
protect their interest. In rapidly advancing OTC Exchange ATS, securing membership with FINRA
and becoming a registered ATS with the SEC, will allow the OTC Exchange
ATS to help us accomplish that mission - serving as an objective
'regulated entity' for greater accountability; without altering
convenience or user experience."
Management anticipates initiating its beta test of the OTC Exchange ATS inside of June. OTCE
has targeted late 2015 as a launch time for what many believe will
become the market's most formidable alternative to today's current
micro-cap exchange system.
DEFINITION of "SEC Form ATS"
A form that is filed with the SEC as an initial operation report or
an amendment to initial operation report, or a cessation of operations
report for alternative trading systems. SEC Form ATS must be filed 20
days prior to the initial operation or before a material change to an
alternative trading system.
ABOUT ATS
An alternative trading system means any organization or system that
provides a market place for bringing together purchases and sellers of
securities. It also applies to any system which with respect to
securities performs the functions commonly performed by a stock exchange
and that does not set rules governing the conduct of its subscribers.
FORWARD-LOOKING STATEMENTS
Certain of the above statements contained in this press release are
forward-looking statements that involve a number of risks and
uncertainties. Such forward-looking statements are within the meaning of
that term in Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. Readers are cautioned that any
such forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may differ
materially from those indicated in the forward-looking statements as a
result of various factors.
CORPORATE RELATIONS CONTACTS
CP. Incorporated, OTC Exchange Corporate Relegation Contact
Samantha Jameson V.P. Corporate Relations
FM 3083/Teas Rd at Plantation Dr., Suite 100
Conroe, TX 77303
(214) 799-0542
Inquiries@otcexchange.info
SOURCE: Advanced Lighting Solutions Inc.