Cytta Corp (CYCA)

[stervc]

GoTeamTool, with the CYCA TA…

From doing my DD, I think the CYCA Transfer Agent (TA) has been changed. I have not confirmed who their new TA is, but I believe it to not be an issue since CYCA is on the OTCBB.

Being on the OTCBB brings a certain amount of transparency that wouldn’t exist if CYCA was on the pink sheets. Even if you go to pinksheets.com, you would see that CYCA has one of the highest ratings for the OTC Market Tiers. From the link below derived from pinksheets.com, CYCA has the second highest rating of OTCQB U.S. Registered:
http://www.otcmarkets.com/pink/quote/quote.jsp?symbol=cyca


http://www.otcmarkets.com/pink/otcguide/investors_market_tiers.jsp


This means that what they file with the SEC will trump what’s located on pinksheets.com or anywhere. This means that what they file with the SEC will hold more merit than that of anyone performing their TA functions be it themselves or any other TA. Letting the SEC filings do the talking for you as a company is basically how we want it to be with a penny stock that we are in for transparency.

As an example and to further explain, with their previous TA, they and pinksheets.com have old information with an OS of 661,400,000 as of Aug 13, 2009. According to one of their recent SEC filings well after Aug 13, 2009, they have since cancelled 56,000,000 shares which was as of February 10, 2010 of having an OS of 605,400,000 shares. This can be verified from the link below:
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7056056-901-45817&type=sect&dcn=0001056520-10-000063

This is far more powerful than calling any TA to get any information about a company’s share structure. As far as we know, the company might be their own TA which is perfectly fine for them to do so too. It is not mandatory that a company hires a TA to perform their TA functions. When a company performs their own TA functions, this is known as ”in-house” TA functions. If CYCA was not an OTCBB stock that files regularly, I would have to consider much more to weigh the validity of the company to accept as risk.

To learn more about companies being their own TAs, call the SEC at The Division of Trading and Markets, Office of Interpretation and Guidance at 202-551-5777. They will confirm what I have posted above and they will tell you that about 85% to 90% of companies usually outsource their TA functions to a commercial service, but that it is not a requirement. You can also find lots of information on this matter with using Google.

Again, because CYCA is an OTCBB stock and not a pink sheets stock, I think we are fine and that such is not an issue.

v/r
Sterling