NEW YORK, May 13, 2015 (GLOBE NEWSWIRE) -- iNeedMD Holdings, Inc. (OTC: NEMD) ("iNeedMD" or the "Company") is pleased to announce that it has secured DTC Eligibility by The Depository Trust Company for its shares on the OTC effective May 11, 2015.
The Depository Trust Company (DTC) is a subsidiary of the Depository Trust & Clearing Corporation (DTCC), 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." This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors.
Thomas A. Nicolette, President and Chief Executive Officer of iNeedMD, stated, "We are pleased to announce that we have obtained DTC eligibility. Electronic trading is the standard in current financial markets, and becoming DTC-eligible greatly simplifies the process of trading and exchanging our common stock and therefore will improve liquidity once trading commences. We would like to thank our transfer agent, Vstock Transfer, and our securities attorneys, Lucosky Brookman, for their collective guidance through this critical process. We continue to focus on sales generation and look forward to updating our shareholders in the near future."
About iNeedMD Holdings, Inc.:
iNeedMD Holdings, Inc., headquartered in New York, New York, develops and markets telehealth solutions that enable individuals and their healthcare partners to acquire, store and export health and wellness related data in convenient, streamlined platforms. The EKG Glove™, the Company's FDA-cleared and CE-marked disposable medical device, helps standardize and simplify the acquisition of an electrocardiogram (EKG/ECG), one of the most enduring diagnostic tools utilized by cardiologists. Please visit http://www.ineedmd.com for additional information.
Forward Looking Statements
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2014 and other filings made by the Company with the U.S. Securities and Exchange Commission.