Experience Art and Design Inc. (fka EXAD)

[ForReal]

I have been doing some DD on becoming a DTC participant. From what I have discovered, it would take up to 6 weeks if all goes well. But, the documentation requirements for a company that has already been trading on the market, is a little more complicated than if you are a "new Issuer" company.

There are only certain representatives/sponsors that the DTC accepts for the process of entering the DTC system. One good thing I discovered is Island Transfer, the T/A for EXAD, is a participant of FAST (a DTC requirement for application into entering the system) and offers the service of getting issuers (EXAD insiders) entered into the DTC subscription program.

Probably going to be a lengthy process, unless some of the forms and requirements have already been met. From what I have read and can find out, I would speculate that it will be about 6 weeks for this to get done. No word on a CUSIP# for Metropolitan, and that is one requirement for entering that company into the DTC system (as a new issuer) prior to the spin off.

Then of course, there is the SEC and FINRA to go thru. I'd say this whole process could take 3 to 6 months, if they get some experienced people to get it done. However, if management just thinks it is a simple process of filling out a few forms, they are in for a huge shock. Perhaps they have already come to some form of realization, as they have given up the idea of setting a Holder of Record Date for the spin off.

Meanwhile, we may (those that like to gamble) get some really cheap shares. Perhaps trips before the smoke clears. Not trying to be "Negative Nancy" here, just trying to be For Real. And there is the possibility I could be way wrong, but I've been to this movie a few times already.