Dynasty Limousine Inc. Receives Rating Upgrade And Applies For DTC Eligibility
Dynasty Limousine Inc. (Pinksheets: DNYS), a full service Luxury Transportation and Limousine firm covering the southeast United States, has received a rating upgrade for its securities to the “Pinksheets Current Information” tier. The rating change was required before the company could apply for DTC eligibility, an action that will allow for trading of its stock through most brokers.
The process for DTC eligibility takes approximately 6 weeks. The DTC (Depository Trust Company) provides banks, brokerage firms and other institutions with an efficient means of moving securities and settling trades electronically. Securities that do not have DTC eligibility are not available for trading through many brokers and institutions due to the large amount of paperwork and time involved in executing trades.
“We have received numerous calls and emails from investors that have tried to purchase DNYS stock, but their broker has not allowed trading due to the DTC issue,” stated Pierce Fleming (V.P.). “Once our securities are DTC eligible it should attract new investors and provide a realistic price range for our stock.” “We have already started the DTC process and this important step should be completed in the coming weeks.”
About DTC
DTCC, through its subsidiaries, provides clearing, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, money market instruments and over-the-counter derivatives. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with their distribution networks.
About Dynasty Limousine Inc.
Dynasty Limousine is a full service Limousine and Transportation firm with offices in Jacksonville and Orange Park, Florida. The Company was founded in 1998 and currently operates a fleet of 15 Limousines, Luxury Sedans, and Limousine Buses with service areas primarily in the Florida and Georgia markets. The Company is a member of the National Limousine Association, and has a nationwide affiliate network to handle all domestic service requests. Dynasty currently has 16 employees, and is actively seeking acquisitions and expansion into additional markets.
Dynasty maintains an A+ accredited BBB rating, and was named a National top three finalist for “Limousine Operator of the Year” by LCT Magazine for both 2009 and 2010. Additional company information may be accessed via Dun and Bradstreet, Pinksheets.com, or by visiting the Investor Relations area located on our corporate websites. At the time of this release, the total number of shares issued and outstanding is 4,636,425 with a current float of 688,900 shares.
Forward-Looking Statements
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts included in this release, are forward-looking statements. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products and services, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party vendors, and other risks detailed in the Company's prospectus and periodic reports filed with the Securities and Exchange Commission. Dynasty Limousine Inc. undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.