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Life Health > Life Insurance

Secondary Life Exchange Stock Moves To OTCBB

By Staff Writer

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A company that has created an electronic trading system for in-force life insurance policies has chosen an electronic trading system for its own common stock.

The Over-The-Counter Bulletin Board, an arm of the Financial Industry Regulatory Authority Inc., Washington, is now quoting the stock of Life-Exchange Inc., Miami, Life-Exchange says.

Life-Exchange, an exchange for buying and selling in-force life insurance policies, previously distributed its shares through the Web-based quotation service operated by Pink Sheets L.L.C., New York,

The OTCBB does not impose minimum listing requirements. But more news organizations publish OTCBB price information, and Life-Exchange is hoping the OTCBB listing will increase the visibility and liquidity of the stock, Life-Exchange says.

Life-Exchange also has released the results for the first quarter of its 2008 fiscal year, which ended Sept. 30.

Life-Exchange is reporting $229,865 in net income for the latest quarter on $383,990 in revenue, compared with a $204,395 net loss on $1,720 in revenue for the first quarter of the company’s 2007 fiscal year.

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