SOURCE: myFreightWorld Technologies Inc.

myFreightWorld Technologies Inc.

January 25, 2011 08:30 ET

myFreightWorld Technologies Files Application to Become DWAC Compliant and Enable Its Shares to Be Traded Electronically

OVERLAND PARK, KS--(Marketwire - January 25, 2011) - myFreightWorld Technologies Inc. (PINKSHEETS: MYFT) announced today that it will file an application with the SEC/Depository Trust Corporation (DTC) to become DWAC (Deposit/Withdrawal at Custodian) compliant. DWAC is an automated digital system that allows shares to be traded electronically. The Company's application and process can take up to 30 days pending SEC final approval.

Newly elected MYFT Board of Director and spokesman Russ Hafferkamp stated, "This action is part of a larger campaign to position the Company to take advantage of pending strategic objectives established by the Board. This campaign includes our intention to become fully audited and SEC compliant and provide our shareholders with greater liquidity and new efficiencies in the trading of our stock. Becoming DWAC compliant will place MYFT in a very elite group of OTC/Pink Sheet companies whose shares can be traded electronically."

Other benefits of becoming DWAC compliant include:

  • Reduces the time from weeks to hours for stock deposits / withdrawals into brokerage accounts;
  • Eliminates the risk associated with the loss & replacement of stock certificates;
  • Eliminates brokerage fees associated with processing and shipping physical certificates;
  • Increases liquidity. 

About myFreightWorld Technologies Inc.
myFreightWorld Technologies Inc. is a business services firm that specializes in providing technology, transportation and supply chain management services to third party logistics managers (3PLs) and transportation intermediaries (TIs), primarily in the United States. Leveraging its proprietary Service Oriented Architecture (SOA) and Cloud Computing Web platform, the company provides its 3PL and Motor Carrier customers with a customer relationship management (CRM) Information Pipeline that provides visibility to shippers, consignees and other interested parties of shipments during the Shipment Life Cycle. For more information, see www.myfreightworld.com.

Notice on Forward-Looking Statements myFreightWorld's vision is to realize shareholder value and wealth through monetization of its projects and potential discoveries through partnerships with significant players with ready capital and production expertise. The matters set forth in this press release may contain forward-looking statements regarding myFreightWorld and its business within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date on which they are made and myFreightWorld undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. These statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks may be detailed from time to time in the company's periodic reports filed with the OTC PinkSheets including MYFT's Annual Report, Quarterly Reports and other periodic filings.

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