Coda Octopus Group Announces Uplisting to the Nasdaq Capital Market
Coda Octopus Group, Inc. (OTCQX:COGI), a global leader in real-time 3D sonar technology and subsea intelligence, announced that its common stock has been approved for listing on the Nasdaq Capital Market. The Company’s common stock will begin trading under the symbol CODA at the opening of trading on Wednesday, July 19, 2017.
“Uplisting to Nasdaq is a significant milestone in the Group’s progress since current management assumed the helm in the final month of the fiscal year 2009. Since the installation of new leadership, the Company has been transformed to a profitable business with a greatly improved balance sheet. We have consistently delivered strong results and solid progress by increasing revenues and earnings year over year and successfully restructuring our balance sheet. The last quarter was our 24th to both show a profit and an increase in the total stockholders’ equity since fiscal year 2011, with earnings growth averaging 35% per year,” said Annmarie Gayle, Coda’s CEO. “In addition to taking the Group to consistent profit, management has focused its research and development efforts on advancing its real-time 3D sonar technology, upon which a significant part of our future growth projections are based and expanding the number of defense programs our engineering businesses supply.”
“As we commence trading on the Nasdaq Capital Market under the symbol of ‘CODA,’ our internationally recognized brand name, we believe the Company will benefit from improved liquidity, greater access to capital for our expansion plans and enhanced long-term value for our shareholders, as well as the increased visibility among institutional and individual investors,” continued Ms. Gayle. “The Group is making significant progress in the development of its fourth generation of products including its patented real-time 3D sonar technology. We anticipate filing additional patents around our new technology which we are currently working on and bringing these new products to the market in our 2018 fiscal year. If we are successful in these developments, we believe this presents a catalyst for future growth and a real opportunity to increase our market share, thus further increasing our financial performance as a Group.”
We are very pleased to welcome Coda Octopus Group to Nasdaq’s family of innovative, growth companies,” said Andrew Hall, Managing Director of Nasdaq. “A Nasdaq listing will provide Coda with improved liquidity, increased visibility and a greater exposure to the institutional investment community. We look to our partnership with Coda as the company achieves its milestones in the years to come.”
