Our office has developed a system that maintains a copy of your stock certificates with the amount of your shares.
This process includes an electronic form available on our website and will include step by step instructions upon the completion of the Zoom sessions.
Restricted shares are restricted from selling to the public until you've had the legend removed from the certificate. Only a transfer agent can remove a restrictive legend. But the transfer agent won't remove the legend unless the issuer consents-usually in the form of an opinion letter from the issuer's counsel to the transfer agent.
Wytec has developed an online portal with instructions on the process for removing your restrictions at www.wytecintl-investorrelations.com.
There are 3 steps necessary for allowing your common shares to trade on NASDAQ.
Yes, there are three different costs associated with preparing your restricted shares for free trading.
- Legal Opinion Letter- Can cost between $500 and $1,000+. Wytec has negotiated a one-time fee "per shareholder" with our securities attorney for $395,
- Transfer Agent- Can cost between $150 or more. (Wytec has negotiated a fee of $140 and
- Broker Dealer Acceptance-Your broker must accept the transfer from the transfer agent.
Wytec has established a relationship with EFHutton's Wealth Management Division to assist in establishing an account for our Wytec Shareholders and automate the transfer process.
Yes. EFHutton Wealth Management has arranged for Wytec Shareholders to purchase directly from the IPO and receive the same low-cost common stock with warrants as the institutional investors receive. Additionally, Wytec IPO purchasers will not be charged a commission fee.
Yes, both your current Wytec shares, and shares purchased in the IPO require a qualified brokerage account to effectuate a trade. EFHutton Wealth Management has agreed to assist Wytec Shareholders in opening a brokerage account at no cost and pay no commission charge when purchasing in the IPO. Additionally, shares purchased in the IPO are immediately tradeable and will not require a legend to be removed or additional cost to register the shares.
Yes, Wytec has over 22 national and international brokerage firms holding Wytec shares today. However, to expedite your process, we recommend that shareholders open an account with EF Hutton Wealth Management. Most brokerages require a minimum deposit to open a customer account. EFHutton Management will credit any purchase in the Wytec IPO toward opening the account.
As soon as restrictions are removed, and your shares are transferred to a qualified broker. Shares purchased in the IPO are immediately tradeable.
As soon as restrictions are removed, and your shares are transferred to a qualified broker. Shares purchased in the IPO are immediately tradeable.
Upon the S-1 Registration being filed and NASDAQ's approval, EFHutton (our underwriter will price Wytec's stock for its first day of trading). The previous S-1 approved by the SEC provided a range of $4.51 to $6.25. The exact price cannot be determined until the pricing date.
Unfortunately, the equity's market has experienced a substantial challenge to both the pricing of IPO's and the number of IPO's originally scheduled to be priced due to the unrest in Ukraine. Wytec had already been approved by the SEC and NASDAQ in its previous attempt to list on February 15th. We believe we can obtain the same approvals upon our new S-1 filing planned on or before March 31st, 2022.
Many informed investors in today's market are practicing a hold on selling shares and instead begin reviewing opportunities with discounted shares such as Wytec. Other Investment strategies during a recessionary period include the purchase of what is known as "defensive" stocks. These stocks tend to be more impervious to losses of share price during an economic downturn as compared to cyclical stocks.
A margin loan allows you to borrow against the value of securities you already own. It's an interest-bearing loan that can be used to gain access to funds for a variety of reasons that cover both investment and non-investment needs. This benefit is granted to qualified NASDAQ securities and allows the holder to utilize this benefit for needed cash without selling shares in a down market.