DALLAS, May 09, 2017 (GLOBE NEWSWIRE) -- P10 Industries, Inc. (OTC:PIOE), formerly Active Power, Inc., today announced that the OTC has established a new trading symbol for its shares of common stock, PIOE. All holders of the company’s common stock are receiving new shares of common stock, on a 1:1 basis. Before the shares can trade, after the effective date of its prepackaged plan of reorganization under Chapter 11 of the Federal Bankruptcy Code, a market maker in the common stock must file a Form 211 with FINRA, indicating compliance with Rule 15c2-11 under the Securities Exchange Act of 1934, before a broker-dealer can post a quotation for the company’s stock. Once the filing is completed and cleared by FINRA, trading in the stock will commence. The company has no control over the timing of the Form 211 process or when trading will commence.
“It is our understanding that there are market makers that are engaged in the process of filing a Form 211 with FINRA, and we are hopeful that trading in our stock under the symbol PIOE will start once FINRA receives and approves the filings,” said Mark A. Ascolese CEO of P10 Industries.
P10 Industries also announced that its financial results for the quarter ended March 31, 2017 will be available by the end of May.
Certain statements in this press release are forward-looking and are based upon the company’s current belief as to the outcome and timing of future events. All statements, other than statements of historical facts, that address activities that the company plans, expects, believes, projects, estimates or anticipates will, should or may occur in the future are forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements herein include, but are not limited to, the ability to implement the company’s business plan and known trends and uncertainties, as described in the company's Annual Report on Form 10-K for the year ended December 31, 2016, as filed with the Securities and Exchange Commission. Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, the company's actual results and plans could differ materially from those expressed in the forward-looking statements.
About P10 Industries
P10 Industries is a company led by proven, experienced business leaders aimed at monetizing intellectual property assets and acquiring profitable businesses in the commercial and industrial markets to generate profit and positive cash flows, ultimately creating long-term shareholder value. P10’s current business commenced on November 19, 2016, following completion of an asset acquisition of its Active Power assets by Piller Power Systems, Inc. (formerly known as Piller USA, Inc.), a subsidiary of Langley Holdings PLC. Active Power changed its name to P10 Industries pursuant to the terms of the acquisition agreement. For more information, visit www.p10industries.com. P10 Industries stock trades on the OTC Pink Market, which is operated by OTC Markets Group, a centralized electronic quotation service for over-the-counter securities. P10 Industries stock trades under the symbol “PIOE.”
P10 Press and Investor Contact: Jay Powers CFO and Vice President, Finance (214) 999-0149 firstname.lastname@example.org
Source:P10 Industries, Inc.