DTC Approves VIASPACE Green Energy Shares for Electronic Trading on the OTC Bulletin Board
IRVINE, Calif., Nov. 29, 2010 /PRNewswire-FirstCall/ — VIASPACE Inc. (OTC Bulletin Board: VSPC), announced that its renewable energy subsidiary, VIASPACE Green Energy Inc. (OTC Bulletin Board: VGREF) has been granted eligibility status by the Depository Trust Company (DTC), which allows shares to be bought and sold with rapid electronic clearing. The Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) had previously granted their approval for trading.
The DTC provides the electronic basis through which stock sales bought and sold through brokers are transferred from the seller’s brokerage account to the buyer’s account.
Chief Executive Dr. Carl Kukkonen commented, “DTC eligibility allows simple low cost electronic transactions to trade VIASPACE Green Energy shares. This is an important step in increasing our shareholder base and a significant milestone for the Company.”
VIASPACE Green Energy is a majority owned (75.7%) subsidiary of VIASPACE Inc. Both companies are publicly listed on the OTC Bulletin Board. VIASPACE (VSPC) has been listed and fully reporting to the SEC since June 2005. VIASPACE Green Energy (VGREF) has been listed and reporting since January 2010, and the company has now received approval of electronic clearing by the DTC. VIASPACE Green Energy has 8,600,000 shares issued and outstanding.
About VIASPACE Inc.
VIASPACE is a clean energy company providing products and technology for renewable and alternative energy that reduce or eliminate dependence on fossil and high-pollutant energy sources. Through its majority-owned subsidiary VIASPACE Green Energy Inc., the Company grows Giant King Grass as a low-carbon fuel for electricity generating power plants, as a feedstock for bio methane production and cellulosic biofuels, and for other low-carbon, renewable energy products. VIASPACE recently introduced its Green Log(TM) fireplace and campfire log product. For more information, please go to www.viaspace.com or contact Dr. Jan Vandersande, Director of Communications, at 800-517-8050 or IR@VIASPACE.com.
Safe Harbor Statement
Information in this news release includes forward-looking statements. These forward-looking statements relate to future events or future performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Such factors include, without limitation, risks outlined in our periodic filings with the U.S. Securities and Exchange Commission, including Annual Report on Form 10-K for the year ended December 31, 2009, as well as general economic and business conditions; the ability to acquire and develop specific products and technologies; changes in consumer and business demand for the Company’s products; competition from larger companies; changes in demand for alternative and clean energy; risks associated with international transactions; risks related to technological change; and other factors over which VIASPACE has little or no control.
SOURCE VIASPACE Inc.