- Company’s Shares Approved for Trading over the Counter –
Los Angeles, CA – April 28, 2008 – OriginOil, Inc., the developer of a breakthrough technology to transform algae, the most promising source of renewable oil, into a true competitor to petroleum, today announced that the company’s shares have been approved for trading on the NASD’s Over-the-Counter Bulletin Board market under the symbol OOIL.
“We are very excited to go forth under our new trading symbol, OOIL,” said Riggs Eckelberry, the Company’s founder and President. “Current shareholders and potential new investors can use the symbol to obtain our current trading and financial information, as well as getting news about our company’s developments and accomplishments. We are excited about the opportunity to take our breakthrough technology to the fast-growing renewable oil market.”
About OriginOil, Inc.
OriginOil helps algae growers extract oil from algae for use as a feedstock for the commercial production of transportation fuels, chemicals and foods. In a single step, our breakthrough technology efficiently dewaters and breaks down algae for its useful products, overcoming one of the greatest challenges in making algae a viable replacement for petroleum. As a pioneer and the emerging leader in the global algae oil services field, OriginOil supports its core algae extraction technology with an array of process innovations for some of the world’s most successful algae growers and refiners, just as pioneers like Schlumberger and Halliburton have done in the oilfield services industry. To learn more about OriginOil®, please visit our website at www.originoil.com.
Safe Harbor Statement:
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with our history of losses and our need to raise additional financing, the acceptance of our products and technology in the marketplace, our ability to demonstrate the commercial viability of our products and technology and our need to increase the size of our organization. Further information on the Company's risk factors is contained in the Company's quarterly and annual reports as filed with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
