BETHESDA, Maryland, September 18, 2018 /PRNewswire/ --
Token Communities Ltd ("TCL") (OTC: TKCM), an advisor and incubator to Fintech start-up and growth companies, announced today that the Company's US stock is now approved as eligible by the Deposit Trust Company ("DTC").
This approval from the DTC, a subsidiary of The Depository Trust & Clearing Corporation, was made effective August 31st 2018, and is an important step for the development of the Company. The DTC is a registered clearing agency with the US Securities and Exchange Commission, which can now therefore provide TKCM (OR the Company) with access to their digital settlement and clearance services.
By enabling the electronic trading of securities, such as common shares of TKCM, the system is crucial in reducing the time and cost typically incurred by brokers. Less personnel are needed to negotiate between the parties and less administration work is needed to properly document those negotiations.
Many brokerage houses across the United States will no longer accept clients or securities that are not approved by the DTC, which has become an industry standard for digital settlement of this kind. The announcement will therefore give the Company access to a significantly wider investor base, assisting the development of a larger and more liquid market for the Company stock.
Steven A. Knight, FCA, TEP, MIOD, Chairman of the Board of TCL, commented that, "We are very pleased to have obtained DTC eligibility. This approval will greatly simplify the process of investors and brokers trading and exchanging our stock in the United States, which will benefit the Company and our shareholders. We also expect that being DTC-eligible will improve our overall share liquidity and the appeal of the Company's shares on the market, particularly as we engage with clients in the Fintech, AI and other associated sectors across the globe."
About Token Communities Ltd.
Token Communities Ltd contains our wholly owned subsidiary Token Communities PLC, a boutique Gibraltar Financial Advisory firm which specializes in incubating as well as advising and managing qualified companies in the blockchain and distributed ledger technologies arena, including smart contracts, TGEs, DApps, and more. Advisement comprises the authoring of industry standard White Papers, technical aspects, design and implementation of market strategies, business appraisal and more. All potential clients must be fully vetted and AML/KYC approved.
Certain statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. The statements in this release are based upon the current beliefs and expectations of our company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and/or other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and/or regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, our latest 10-Q Report filed on May 21st, 2018. We undertake no duty to update any forward-looking statement or any information contained in this press release or in other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about Token Communities Ltd. which are condoned by the Company must emanate from the Company itself and bear our name as its Source.
For further information, please contact us at Info@TokenCommunities.com