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Mind Technologies, Inc. Provides Update on MTEK

by admin on June 21, 2011

Mind Technologies, Inc. (OTC Pink: MTEK) is providing an update to shareholders regarding the trading of MTEK. As of today, the ten day trading suspension is over. The Company must now file Form 2-11 with FINRA through a registered broker dealer and have the filing approved, in order to be deemed as having provided “Current Information” for the OTC Pink market. Once FINRA has satisfactorily completed their review and approved the submission, the Company’s shares should begin to trade again on the OTC Pink Sheet Market. The Company has already engaged a broker dealer to submit Form 2-11 and is working expeditiously to prepare the necessary filings and finalize the process.

Temporary trading suspensions can occur when the SEC deems there is a public concern, such as a lack of adequate financials. MTEK was on a schedule of reporting financials every six months, with the next filing due after June 30th. The Company was notified on June 7th of the temporary trading suspension. As a result, the Company has elected to begin reporting financials on a quarterly basis going forward.

Mind Technologies continues to advance development of the Company’s proprietary EEG headset and thought controlled software.

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