myFreightWorld Technologies Files Application to Become DWAC Compliant and Enable Its Shares to Be Traded Electronically
25 Janvier 2011 - 2:30PM
Marketwired
myFreightWorld Technologies Inc. (PINKSHEETS: MYFT) announced today
that it will file an application with the SEC/Depository Trust
Corporation (DTC) to become DWAC (Deposit/Withdrawal at Custodian)
compliant. DWAC is an automated digital system that allows shares
to be traded electronically. The Company's application and process
can take up to 30 days pending SEC final approval.
Newly elected MYFT Board of Director and spokesman Russ
Hafferkamp stated, "This action is part of a larger campaign to
position the Company to take advantage of pending strategic
objectives established by the Board. This campaign includes our
intention to become fully audited and SEC compliant and provide our
shareholders with greater liquidity and new efficiencies in the
trading of our stock. Becoming DWAC compliant will place MYFT in a
very elite group of OTC/Pink Sheet companies whose shares can be
traded electronically."
Other benefits of becoming DWAC compliant include:
- Reduces the time from weeks to hours for stock deposits /
withdrawals into brokerage accounts;
- Eliminates the risk associated with the loss & replacement
of stock certificates;
- Eliminates brokerage fees associated with processing and
shipping physical certificates;
- Increases liquidity.
About myFreightWorld Technologies Inc.
myFreightWorld Technologies Inc. is a business services firm that
specializes in providing technology, transportation and supply
chain management services to third party logistics managers (3PLs)
and transportation intermediaries (TIs), primarily in the United
States. Leveraging its proprietary Service Oriented Architecture
(SOA) and Cloud Computing Web platform, the company provides its
3PL and Motor Carrier customers with a customer relationship
management (CRM) Information Pipeline that provides visibility to
shippers, consignees and other interested parties of shipments
during the Shipment Life Cycle. For more information, see
www.myfreightworld.com.
Notice on Forward-Looking Statements myFreightWorld's vision is
to realize shareholder value and wealth through monetization of its
projects and potential discoveries through partnerships with
significant players with ready capital and production expertise.
The matters set forth in this press release may contain
forward-looking statements regarding myFreightWorld and its
business within the meaning of the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements speak only as of the date on which they are made and
myFreightWorld undertakes no obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future events, or otherwise. These statements are
subject to risks and uncertainties that may cause actual results to
differ materially. These risks may be detailed from time to time in
the company's periodic reports filed with the OTC PinkSheets
including MYFT's Annual Report, Quarterly Reports and other
periodic filings.
CONTACT: J. Michael Head CEO myFreightWorld Technologies Inc.
www.myfreightworld.com 1-877-549-9438 Email Contact
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