Andain Inc. the Innovative Technology Incubator, Receives DTC Eligibility
BEVERLY HILLS, California, November 27, 2012 /PRNewswire/ --
Andain Inc. (OTCQB: ANDN) ("Andain" or the "Company"), a company engaged in commercializing novel technologies in biotech, medical and life sciences fields, today announced today that the Company has been granted eligibility status by the Depository Trust Corporation ("DTC") for its shares of common stock that are traded on the Over the Counter Bulletin Board, effective September 8, 2102.
The DTC is a subsidiary of the Depository Trust & Clearing Corporation, and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered "DTC eligible." DTC provides for the centralized custody of securities so that they exist only as electronic files rather than as physical certificates. This process provides banks, brokerage firms and other institutions with an efficient means of moving securities and settling trades electronically. This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors.
"We are pleased to receive DTC eligibility. Andain Inc.'s combination of leading technologies, products, strong incubator program, defined paths to commercialization, and attractive valuation, present a strong growth opportunity to investors. We look forward to further communicating this with the investment community and increasing the visibility of our company and the liquidity of our stock," said Andain Inc's CEO Sam Elimelech.
ABOUT ANDAIN INC
Established in 2004 as a Nevada corporation with locations in Israel and the US, Andain (OTCQB: ANDN) commercializes novel technologies in the biotech, medical and life sciences fields, specializing in identifying technical innovations and providing a unique incubator/accelerator development and industrial platform. The company also offers technical know-how and business strategy expertise to commercialize new technologies and deliver shareholder value. For more information, please visit our website at http://www.andaininc.com.
FORWARD LOOKING STATEMENTS
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the company's Form 10-K filing and other filings with the U S. Securities and Exchange Commission (available at http://www.sec.gov). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise.
SOURCE Andain Inc