Onstream Media to Move Listing from NASDAQ to the OTCQB Market

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Onstream Media Corporation
ONSM
, a leading online service provider of live and on-demand corporate audio and web communications, virtual event technology, and social media marketing, today announced that its Board of Directors has voluntarily decided to move the listing of its common stock from The NASDAQ Capital Market ("NASDAQ") to OTC Markets' OTCQB marketplace ("OTCQB"). Onstream Media expects that its stock will begin trading on the OTCQB under its ticker symbol "ONSM" effective October 22, 2012. As of that date, investors and other interested parties will be able to view the Real Time Level II stock quotes for ONSM at http://www.otcmarkets.com. "We believe that our decision to move to the OTCQB is in no way an adverse reflection of the financial stability or viability of the Company," stated Randy Selman, President and CEO of Onstream Media. "We carefully evaluated our options to maintain our listing on NASDAQ, including whether or not to implement a reverse split to satisfy the $1.00 per share minimum bid price requirement, and concluded that it was not in the best interest of our shareholders.  We believe the transition to the OTCQB will be relatively seamless and will continue to provide existing and new shareholders a quality marketplace to trade our stock." Mr. Selman continued, "Our revenues and operating cash flow for the most recently reported quarter represented Company records. Looking forward to FY2013, we expect continued record revenue and cash flow as a result of expanding sales into new markets for our new and existing products and services."
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