UPDATE: Converted Organics Announces Stock Transition to the Over the Counter Bulletin Board (OTCBB)

Converted Organics Inc. COIN announced today that the Company's common stock (trading symbol: COIN), Class B Warrants (trading symbol: COINZ), and Class H Warrants (trading symbol: COINW), will be quoted on the OTC Bulletin Board (OTCBB) effective July 7, 2011. The OTC Bulletin Board® is a regulated quotation service that displays real-time quotes, last-sale prices, and volume information in over-the-counter equity securities. Edward J. Gildea, President and CEO of Converted Organics commented, "The transition to the OTCBB will not impact our plans to grow our business. We increased the capacity of our organic fertilizer plant in California this year and we have the ability and resources to increase capacity next year. Our vertical farming business, called TerraSphere Systems is in the forefront of an exciting business opportunity of building highly efficient systems for growing pesticide and chemical-free produce and vegetables in controlled indoor environments. We plan to grow our Industrial Wastewater Resources Division by working to form industry or project-based partnerships that utilize our exclusively licensed, technology to treat industrial wastewaters in an environmentally-sound and sustainable manner using waste heat, and preventing contaminants from returning to the water table."