Genesis Bioventures moves to Bulletin Board

New York, Oct. 17 - Genesis Bioventures, Inc. said its stock began trading on the Over-The-Counter Bulletin Board on Monday.

The symbol is "GBIW."

"The microcap market over the past year has shown greater strength than the broader markets. The OTC market has been a leading market for emerging companies and GBI believes that the Bulletin Board will serve the company's microcap market needs more effectively," said Genesis chairman Greg McCartney in a news release.

On Oct. 3 Genesis said it received a notice from the American Stock Exchange that the exchange intended to delist the company.

The letter followed an earlier warning on July 27 that the company was not in compliance with the exchange's listing standards.

The New York-based biomedical company said at the time that it has been conducting an internal review over the past months and recently decided on a corporate restructuring and reorganization.

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