EVCARCO Announces Deposit Trust Company Deposit Chill Has Been Lifted
FORT WORTH, TX--(Marketwired - Sep 24, 2013) - EVCARCO Inc. (PINKSHEETS: EVCA), a Future Driven® Automotive Retail Group focused on deploying a coast-to-coast network of eco-friendly dealerships announced today that the Depository Trust Company deposit chill has been lifted.
The DTC (Depository Trust Company) on Sept 16th, 2013 lifted the Deposit Chill and has resumed accepting deposits of the Issue for depository and book-entry transfer services.
The DTC chill can, and does, affect a company's funding source in that it influences the internal policies and procedures of some brokerage firms. One such policy is that some brokers have restricted or blocked buy orders from customers wishing to purchase the Company's shares on the open market.
Walter Speck, CEO of EVCARCO, stated, "We appreciate our shareholders patience while we worked to move from the DTC Chill list. We now will focus on getting our filings current and being fully transparent and fully reporting. Being fully reporting will allow us to grow as a public company with access to much better financing."
EVCARCO advises shareholders, company followers and prospective investors to contact their financial advisors with any questions or concerns about their individual accounts and investment choices.
DTC was created by the securities industry to improve efficiencies and reduce risk in the clearance and settlement of securities transactions. Today, DTC is the largest securities depository in the world. Including securities issued in the U.S. and 121 other countries, DTC has on deposit 3.6 million securities worth about $35 trillion. For more information about DTC please visit the SEC website or view this link: http://www.sec.gov/investor/alerts/dtcfreezes.pdf.
EVCARCO, Inc. is a Future Driven® Automotive Retail Group focused on deploying a coast-to-coast network of eco-friendly dealerships and vehicles. The Company sells or leases new & pre-owned all electric, alternative fuel and hybrid vehicles from most auto makers. For additional information regarding EVCARCO visit: www.evcarco.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. Additional information respecting the factors that could materially affect the Company and its operations are contained in its annual report on Form 10K and Form 10-Q as filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statement.