Autris Receives DTC Eligibility Status
09 April 2014 - 10:17PM
Marketwired
Autris Receives DTC Eligibility Status
LOS ANGELES, CA--(Marketwired - Apr 9, 2014) - Autris
(OTCQB: AUTR) an automotive technology investment corporation was
recently granted Eligibility Status by the Depository Trust Company
(DTC). The DTC allows brokerage firms, banks and other
financial institutions the use of widely accepted protocols for the
electronic settlement of trades and securities transfers.
"We are very pleased that those that wish to participate in our
public market can more readily do so now," said Autris Chairman and
CFO Ellis Martin.
On October 9, 2013, the company acquired 100% interest of
NitroHeat, LLC in a reverse takeover. Nitroheat is a manufacturer
and distributor of nitrogen generators and compressed gas heaters.
This unique solution is currently supplied into the automotive and
industrial spray painting markets. There are a variety of other
uses for this system in the following area: In the painting
segment, the benefits derived from the utilization of the Nitroheat
system are improved paint transfer efficiency, faster drying /
curing time, and a higher finish quality. In the industrial sectors
the Nitrogen generators are used as an alternative to compressed
"bottled / tanked" nitrogen.
As part of the reverse takeover Derek Naidoo was appointed Chief
Executive Officer. Derek Naidoo is a serial entrepreneur with
an automotive engineering background. After having worked in the
automotive industry for 12 years, Derek founded a technology
business in 1995 which was consolidated in a merger and listed on
the Johannesburg stock exchange in 1999. Derek later started the
autobody speedshop concept in South Africa in 2002. The concept was
launched in the USA in 2009. Derek designed a heated nitrogen
generation system for the automotive spray painting environment in
2011 which is currently being manufactured and distributed out of
the NITROHEAT business in Gardena, California. Ellis B. Martin
resigned as President and CEO and remains as Chief Financial
Officer and Chairman. Brett Whitelaw retains his position as
Executive Vice-President and Director.
About AUTRIS
AUTRIS is an OTC publicly traded company. We are a dedicated
automotive technology investment company with a current wholly
owned subsidiary NITROHEAT (www.nitroheat.com). The company is
strategically positioned for additional acquisitions in the
automotive and technology sectors. Our focus is to continue the
development and growth of NITROHEAT whilst exploring additional
opportunities in the automotive industry.
The statements contained herein may include statements of future
expectations and other forward-looking statements that are based on
management's current views and assumptions and involve known and
unknown risks and uncertainties that could cause actual results,
performance or events to differ materially from those expressed or
implied in such statements. In addition to statements which are
forward-looking by reason of context, the words "may", "will",
"should", "expects", "plans", "intends", "anticipates", "believes",
"estimates", "predicts", "potential", or "continue" and similar
expressions identify forward-looking statements.
Actual results, performance or events may differ materially from
those in such statements due to, without limitation, (i) general
economic conditions, including in particular economic conditions in
the AUTRIS core business and core markets, (ii) performance of
financial markets, including emerging markets, and including market
volatility, liquidity. Many of these factors may be more likely to
occur, or more pronounced, as a result of terrorist activities and
their consequences.
The matters discussed herein may also be affected by risks and
uncertainties described from time to time in AUTRIS filings with
the U.S. Securities and Exchange Commission. The company assumes no
obligation to update any forward-looking statement
CONTACT: Brett Whitelaw email: Email Contact tollfree:
1(800)931-3472 mobile : 1(778)836-5891
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