Boatim Inc. announces stocks are now DWAC eligible
MIAMI, May 29, 2020 /PRNewswire/ -- Boatim Inc., a globally operating online marketplace for boats and yachts, today announced that the Depository Trust Company (the "DTC") has approved its common stock for DWAC/FAST transfers. This newly approved stock transfer capability will enable Boatim shareholders to transfer their shares of BTIM stock electronically after buying or selling on the open market, without the extra expense and delay associated with the processing and transfer of physical share certificates.
Companies approved for DWAC/FAST electronic transfers often experience higher trading volumes in their stock given the additional accessibility and availability of shares for trading.
"We are pleased to announce this shareholder-friendly step in our evolution as a public startup company. DWAC transfer eligibility enables our shareholders to maintain the highest levels of efficiency, accountability and compliance standards for their trading activities in our shares through the best and most up-to-date electronic securities trading platforms being used today," stated Wolfgang Tippner, CEO of Boatim.
About DWAC/FAST
DWAC allows participants to instruct DTC regarding deposit and withdrawal transactions being made directly via a FAST transfer agent. The FAST system eliminates the movement of physical share certificates for transfers of securities registered in the name of DTC's nominee, Cede & Co., on the transfer agent's books. DTC and its FAST transfer agents reconcile the results of participants' deposit and withdrawal activities electronically on a daily basis.
About Boatim Inc.
Boatim Inc. is a globally operating online marketplace and special interest social network for both the boating industry and boat users.
Boatim was founded in 2014 and now employs 16 people in Miami (USA) and Barcelona (Spain). The technology startup provides industry-specific software, aimed at facilitating the process of buying and selling boats online.
On www.boatim.com the boating industry can sell and promote products and connect with a fast-growing potential customer base, while boat users can explore and buy boats, connect with like-minded and brands. The platform that can be accessed through mobile devices and desktop, generates revenues through listing placements and subscription plans, as well as on-platform ads. Thanks to the great business model scalability, more revenue streams are planned to be added soon.
Since August 2019 the privately funded startup has become a publicly listed entity, trading at the OTC Venture Market under the trading symbol BTIM.
https://boatim.com/investor-relations
Forward Looking Statements
This press release contains forward-looking statements regarding our future business expectations, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including: our ability to retain or increase users and engagement levels; our reliance on advertising revenue; our dependency on mobile operating systems, networks, and standards that we do not control; risks associated with new product development and their introduction as well as other new business initiatives; our emphasis on user growth and engagement and the user experience over short-term financial results; competition; litigation; privacy and regulatory concerns; risks associated with acquisitions; security breaches; and our ability to manage growth and geographically-dispersed operations. These and other potential risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed under the caption "Risk Factors" in our Annual Report on Form 10-K filed with the SEC on January 31, 2020, which is available via the SEC website at www.sec.gov. Additional information has also been set forth in our Annual Report on Form 10-K for the year ended August 31, 2019. In addition, please note that the date of this press release is May 29, 2020, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements as a result of new information or future events.
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SOURCE Boatim, Inc.
