Petel Inc Upgraded on Pink Sheets

In a press release today, Petel Incorporated announced that ...

Petel Incorporated received approval by Pink Sheets OTC upgrading the company from 'Limited Information' to 'Current Information' having achieved full disclosure status.

"Attaining 'Current Information' is a vital step towards our goal and the board is now discussing and researching the next step to 'Premier' status with Pink Sheets QX. We are dedicated to moving the company forward and will continue to work exceptionally hard to develop our status further for future growth," says CEO David Morton.

"We quickly instigated the filing of our 15c-211 in June giving the company the benefit of 'solicited' status with greater transparency and exposure and at that time signaled our intention to work our way up to the OTCBB."

I'm heartened by this slow progress - far too many small companies attempt to leapfrog their way onto the OTC boards by reverse-splitting, only to see the prices plummet back to the same level they were at before the split within a week of trading.