WORCESTER, Mass., Dec. 15 /PRNewswire-FirstCall/ -- Paid, Inc.
(OTC Bulletin Board: PAYD), a cutting-edge developer of celebrity web sites
and services and ecommerce software, announced today that the Depository Trust
Company (DTC), has removed the "chill" status from Paid's stock and is now
allowing Paid, Inc. stock to once again be deposited with the DTC to enable
normal electronic trading of the shares, effective yesterday.
Paid's recent removal of the requirement that its stock certificates be
held in the name of the beneficial owner enables Paid, Inc. stock to once
again be eligible for deposit with DTC. It also enables Paid's stock to
comply with the newly adopted Securities & Exchange Commission (SEC) rule that
bars transfer agents from handling stocks with restrictions or prohibitions on
their transfer to or from intermediaries, including banks, brokers, and
clearing agencies.
"DTC's removal of the chill status enables all brokerage firms to execute
trades with our stock in the normal manner, thereby permitting a broader
distribution of our stock amongst the investment community," said Greg Rotman,
CEO of Paid, Inc. "We believe it will now be easier for current and potential
investors in Paid to find brokerages who are willing and able to buy and sell
shares of Paid, Inc."
Shareholders of Paid, Inc. need not do anything with their stock
certificates or shares held by their brokerages as a result of this action by
Paid, unless requested by their broker. Brokerages should consult with DTC if
they have any difficulties trading Paid, Inc.'s stock through DTC.
Although certificates can be deposited with DTC, Paid, Inc. management
strongly recommends that its shareholders should keep their certificates in
paper form and in their possession until they are ready to trade them.
Management feels this is the safest way for shareholders to ensure that they
will have the opportunity to participate in any proxy votes and other
shareholder-related matters that may occur.
About Paid, Inc.
Paid's innovative products and services are utilized in online auction
management, ecommerce and web site development and hosting. Using proprietary
technology, Paid, Inc. is a respected developer of dynamic, cutting edge
celebrity web sites and ecommerce storefronts that attract tens of thousands
of visitors daily. Paid's Auction Inc brand auction management and shipping
calculation software utilizes Paid's patent-pending process technologies to
streamline back-office and shipping processes for online auctions and e-
commerce. Paid's Celebrity Services offers a broad array of services to the
sports, music and entertainment industries, including fan club management,
premium ticket packages, fan experiences, web site development, merchandising
and special events management. Paid's Rotman Auction is an eBay Platinum
Powerseller that sells thousands of items -- primarily sports, Hollywood and
Americana collectibles and memorabilia -- each week on eBay. The company also
builds and maintains large database-driven portals across a broad array of
industries. The Company's common stock is traded on the Nasdaq OTC Bulletin
Board under the symbol PAYD. For further information visit
http://www.paid.com.
Forward Looking Statements:
This Press Release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 that are based upon current expectations or beliefs, as
well as a number of assumptions about future events, including matters related
to the willingness of brokerages to trade Paid's stock and brokerages' ease of
trading the stock. Although the Company believes that the expectations
reflected in the forward-looking statements and the assumptions upon which
they are based are reasonable, it can give no assurance that such expectations
and assumptions will prove to have been correct. The reader is cautioned not
to put undue reliance on these forward-looking statements, as these statements
are subject to numerous factors and uncertainties. In addition, other factors
that could cause actual results to differ materially are discussed in the
Company's most recent filings, including Form 10-KSB with the Securities and
Exchange Commission.
CONTACTS:
Media: Julie Shepherd of Accentuate PR, +1-815-479-1833, Julie@paid.com
Investors: Jens Dalsgaard of Redwood Consultants, LLC, +1-415-884-0348,
jnsd@aol.com
SOURCE Paid, Inc.
 back to top
Related links:
http://www.paid.com
CONTACT:
Media: Julie Shepherd of Accentuate PR,
+1-815-479-1833, Julie@paid.com; or Investors: Jens Dalsgaard of
Redwood Consultants, LLC, +1-415-884-0348, jnsd@aol.com
|
