GainClients, Inc. Becomes "Pink Current" on OTC Market

Rhea-AI Summary

GainClients (OTC PINK: GCLT) has achieved Pink Current Status on the OTC Market as of September 28, 2021. This milestone allows for more fluid share trading among investors. Following SEC amendments to Rule 15c2-11, the company filed its updated financials by the necessary deadlines, showcasing its commitment to compliance. CEO Ed Laine emphasized the internal efforts that led to this achievement, focusing now on onboarding new clients and enhancing profitability. GainClients offers a Mobile Earnest Money Deposit service that streamlines transactions in the real estate sector, already generating revenue from various services.

Positive

• Achieved Pink Current Status, enabling freer trading of shares.
• Filed updated financials by the SEC deadline, ensuring compliance.
• Revenue generation from Mobile Earnest Money Deposit service, showcasing a new revenue stream.
• Service aimed at reducing costs and improving efficiency for title companies and real estate agents.

Negative

• None.

TUCSON, AZ / ACCESSWIRE / November 2, 2021 / GainClients, Inc. (OTC PINK:GCLT) ("GainClients" or the "Company") is pleased to announce that it has successfully returned to Pink Current Status on the OTC Market. This move allows investors to buy and sell shares of the Company more freely. The Company has been publicly traded since 2001 and has invested significant resources to bringing their disclosures current.

On September 16^th, 2020, the Securities and Exchange Commission (SEC) adopted amendments to Rule 15c2-11 to "modernize" the rules to the current markets. In the amendments, companies listed on the OTC Market would be required to bring their Company Disclosures current, or risk being delisted. Companies were required to become compliant by September 28^th, 2021. GainClients, Inc filed its application to become current by the June 30^th deadline, and filed their updated Financials and Disclosures by the September 28^th deadline. The OTC Market changed the status of the Company's shares to "Pink Current" on September 28^th, 2021.

"This was only accomplished through the hard work and diligence of our staff and accounting team. I applaud their efforts and our Shareholder's patience while we worked through this process", said Ed Laine, the Company's CEO. "This allows us to return our focus to on-boarding new clients and getting to profitability. With the addition of each customer, we are also connecting to their bank. Watch for more news coming out about those relationships," Mr. Laine went on to say.

The Company's Mobile Earnest Money Deposit service provides the ability to take a picture of an earnest money check and deposit it into a bank account from a remote location, such as an office or home, without having to physically deliver the check to the receiver. Proven to be secure by the banking industry, mobile remote depositing offers better protection against fraud, lost checks, and saves significant time and money for the Title and Escrow Companies that use the software.

For the real estate agent, the service will eliminate the time spent picking up checks from their buyer clients and fees charged by title companies. For title companies, it will reduce the millions spent on manual courier services and overnight shipping costs. In addition, the system will expedite the escrow opening process, as well as solving their disbursement and/or refunds to avoid becoming Dormant Funds. It's also a beneficial service from title companies to their REALTOR® partners that will strengthen existing relationships and forge new ones.

GainClients introduced the service earlier this year to several title companies in Indiana, Oregon, Washington state and Texas and has already collected revenue from contractual set-up fees, as well recurring revenues from platform subscription fees and scanning fees.

About GainClients, Inc.

GainClients products, the GCard, the Daily Opportunity Service and Remote Deposit Capture, consist of custom formatted data and marketing services created for the real estate industry including real estate agents and brokers, lender brokerages, title/escrow and insurance companies and individual real estate, mortgage, and title and escrow professionals. Learn more at http://www.thegainclientsway.com/.

For More Information:

Ed Laine, at info@gainclients.com or at +1.206.229.5515;
Head office: 6245 E Broadway Blvd., Suite 400, Tucson, AZ 85711

Cautionary Statements

This corporate update contains "forward-looking information" that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".

SOURCE: GainClients, Inc.

View source version on accesswire.com:
https://www.accesswire.com/670703/GainClients-Inc-Becomes-Pink-Current-on-OTC-Market

FAQ

What does the Pink Current Status for GCLT signify?

The Pink Current Status allows for more fluid trading of GainClients' shares, enhancing investor access.

What deadline did GainClients meet to achieve Pink Current Status?

GainClients filed its updated financials by the September 28, 2021, deadline set by the SEC.

How does the Mobile Earnest Money Deposit service benefit clients?

The service reduces courier costs and time for title companies and real estate agents by allowing remote check deposits.

What revenue streams is GainClients tapping into?

GainClients is generating revenue from set-up fees and subscription fees related to its Mobile Earnest Money Deposit service.