|By PR Newswire||
|August 20, 2014 08:40 AM EDT||
BEDFORD, Texas, Aug. 20, 2014 /PRNewswire/ -- Galenfeha, Inc. (OTCBB: GLFH), an engineering services and product development/manufacturing company serving the oil, gas, and energy industries, is pleased to announce that effective immediately, the Company's common shares have been granted eligibility status by the Depository Trust Clearing Corporation (DTCC). Securities that are DTCC eligible can be electronically cleared and settled through facilities of the DTCC. This fully electronic and cost-effective method of clearing securities transactions accelerates the trade settlement process for all investors and broker/dealers that process trades in Galenfeha's common stock.
"DTCC eligibility increases the efficiency and lowers the cost associated with trading our company's common stock on the OTCBB," said James Ketner, President and CEO of Galenfeha, Inc. "One of our goals is to provide investors the most efficient, liquid, and orderly market possible. 30 days ago we announced to the public that GLFH would begin trading on July 28th, 2014. Because of a larger than expected interest in our common stocks' initial trading, and because we had not yet been cleared for DTCC eligibility, broker dealers expressed concerns our stock would not be able to be settled in a timely fashion, thereby lowering liquidity and increasing volatility in Galenfeha's equity market. Now that our common stock is DTCC eligible, this alleviates these previous concerns."
Mr. Ketner also added, "The people at the DTCC have been extremely helpful in assisting us with the process of becoming DTCC eligible. I would like that thank all involved with understanding our needs, and helping us with the application process."
Galenfeha, Inc. is an engineering services and product development/manufacturing company serving the oil, gas, and energy industries. Led by President/CEO James Ketner, the company is continually researching and developing new products to aid energy producers in reducing costs, increasing efficiency, and reducing global pollution.
For more information on Galenfeha's products and services, please visit www.galenfeha.com.
Forward-Looking Statements: Except for historical information contained in this release, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this release, words such as "anticipate," "believes," "estimate," "expect," "should," "intend," "projects," "objective" and "appears" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the impact of competitive products and pricing; capacity and supply constraints or difficulties; product development, commercialization or technological difficulties; the regulatory and trade environment; the impact of reimbursement rates and coverage; and the risk factors reported from time to time in the Company's SEC reports. The Company undertakes no obligation to revise any forward-looking statements as a result of future events or developments.
SOURCE Galenfeha, Inc.