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Baristas Approved by DTC for DRS -- Physical Stock Certificates Called for Conversion for Electronic Transfer Goes Into Effect Immediately
Baristas Approved by DTC for DRS -- Physical Stock Certificates Called for Conversion for Electronic Transfer Goes Into Effect Immediately.
About this update from Baristas Coffee Company Inc.
[{"type":"text","content":"\n \n \n Baristas Approved by DTC for DRS -- Physical Stock Certificates Called for Conversion for Electronic Transfer Goes Into Effect Immediately\n \n \nBaristas Approved by DTC for DRS -- Physical Stock Certificates Called for Conversion for Electronic Transfer Goes Into Effect Immediately\n \n SEATTLE, WA--(Marketwired - Mar 22, 2016) - Baristas Coffee Company, Inc. (OTCQB: BCCI) (OTCQB: BCCID), \"Seattle's World Famous Costume Coffee,\" announced today the Depository Trust Company (DTC), which performs the functions of a Central Securities Depository, has approved Baristas for the Direct Registration System (DRS) effective immediately. All physical certificates and shares held in street name are now being called for deposit under the Direct Registration System.\n There are many significant advantages for investors and companies once they are able to use the Direct Registration System. Stocks held through DRS cannot be lent to short sellers, there are no physical certificates to lose, investors are protected against brokers going bankrupt, and transfers are easier and less costly. Companies eligible for DRS ensure secure electronic transfer, experience numerous immediate cost savings from reduced printing, lower cost of corporate actions, and are generally more efficient. In addition, because stocks cannot be lent but must settle prior to transfer, the value is generally protected against panic selling. For those companies that qualify, DRS supports the industry's move to a dematerialized security environment and shortened settlement timeframes.\n Barry Henthorn, CEO, commented, \"Being approved by the DTC to trade under the DRS will not only save Baristas money, but gives strong value to our investors as well. Companies that are able to trade under the Direct Registration System are far less vulnerable to market manipulation, have a much higher level of investor confidence, and their stock is available to a greater number of brokers for investment.\"\n About Baristas Coffee Company (BCCID): Headquartered in the Seattle, Washington area, Baristas Coffee Company, Inc. was formed to create a national brand of drive-thru espresso stands. BCCI is accomplishing this by acquiring established businesses that fit its model, opening new locations, and by franchising. Baristas also creates and markets coffee based retail pro...