The diversified and eco-friendly company NNRF Inc (OTCMKTS:NNRI) was in the news yesterday after it made a key announcement and it may well be a good idea for investors to start tracking the stock. The company came into focus yesterday after it announced that its shares had become eligible for electronic settlement and clearing through the DTC (Depository Trust Company).
On Thursday, NNRI stock slid 2.14% to $0.0137 with more than 2.09K shares, compared to volume of 346.12K shares. The stock moved within a range of $0.0137 – 0.0137 after opening trade at $0.0137.
NNRF Received DTC Eligibility Approval
DTS is a subsidiary unit of the Depository Trust & Clearing Corporation, which is a company that is responsible for the electronic settlement and clearing of companies which are publicly listed. Those securities which become eligible for electronic settlement and clearing are called ‘DTC eligible’. It is an important designation since such securities are settled quickly and costs for brokers and investors are also reduced.
As per the announcement from the company on Thursday, the NNRF shares had become DTC eligible for depository services and book entry delivery. Tomi Holden, who is the Chief Executive Officer of the company, spoke about the latest development as well. Holden noted that it was a major step for the company on its path towards planned growth. He added that the eligibility would also help in simplifying the process of trading the company’s shares.