Mentor Capital, Inc. (OTCQB: MNTR) reports its application to the
Depository Trust Company to qualify Mentor shares for accelerated
processing through the DTC Fast Automated Securities Transfer system has
been approved. Because the DTC is strictly regulated by the SEC,
Treasury and Federal Reserve, Mentor Capital followed DTC guidelines in
preparing for FAST acceptance by (i) becoming fully reporting without
missing or late reports, (ii) having no name changes, officer changes or
stock splits within the last 3 to 5 years, (iii) ensured the company and
officers were not involved in fraudulent activities such as pump and
dump schemes or as may be evidenced in lawsuits, (iv) avoided Regulation
504D issuances or other unregistered resales, (v) avoided Pink Sheet
“Halt” or “Yield” statuses, and (vi) grew the company to ensure it was
not too small or the financials were not large enough.
Working under the DTC FAST system Mentor Capital shareholders receive
the benefits of being able to utilize the Direct Registration System
(DRS) and the Deposit/Withdraw At Custodian (DWAC) processes to transfer
their shares electronically. The DRS system is entirely paperless and
the shares are held on the books of Mentor Capital’s FAST authorized
transfer agent, American Stock Transfer, without the need of an original
physical certificate to evidence security ownership. Later, the
shareholder’s security positions may be moved electronically between
street name ownership and direct registration book entry position.
The DWAC process is similar to DRS, but starts with a physical
certificate that requires certification through a Medallion Signature
Guarantee from a bank, credit union or stock broker, so that the
signatures may be immediately accepted for processing by any transfer
agent. Once accepted and electronically recorded on the Company stock
ledger, the shareholder may authorize his broker to request the shares
be moved electronically into the shareholder’s brokerage account.
Mentor Capital, Inc. CEO Chet Billingsley notes, “Working through the
DTC FAST system and utilizing the DRS and DWAC processes greatly reduces
the costs and time required for our shareholders to deposit or replace
shares, and moves us another step forward along the path toward a major
exchange listing.”
About Mentor Capital: The company seeks to take significant
positions in medical marijuana and cannabis companies to provide public
market liquidity for founders, protection for investors and to incubate
private cannabis companies that have the potential to be spun off as
stand-alone pubic companies. Additional important information for
investors is presented at: www.MentorCapital.com.
This press release is neither an offer to sell, nor a solicitation of
offers to purchase, securities.
Forward-Looking Statements: This press release contains
forward-looking statements within the meaning of the federal securities
laws, including statements concerning financial projections, financing
activities, corporate combinations, product development activities and
sales and licensing activities. Such forward-looking statements
are not guarantees of future results or performance, are sometimes
identified by words of condition such as “should,” “could,” “expects,”
“may,” “intends,” “seeks,” “looks,” “moves,” or “plans” and are subject
to a number of risks and uncertainties, known and unknown, that could
cause actual results to differ materially from those intended or
anticipated. Such risks include, without limitation:
nonperformance of investments, partner and portfolio difficulties,
potential delays in marketing and sales, problems securing the necessary
financing to continue operations, problems involving continued
illegality of cannabis products, potential of competitive
products, services, and technologies, difficulties experienced in
product development, in recruiting knowledgeable personnel and in
protecting intellectual property. Further information concerning
these and other risks is included in the Company’s Form 10 filing which,
along with other very important information about the Company, can be
found here:
http://mentorcapital.com/disclosures/
The Company undertakes no obligation to update or revise such
forward-looking statements to reflect new information, events or
circumstances occurring after the date of this press release.
Copyright Business Wire 2015