This is topic need help on what to do with restricted Paivis shares! in forum Micro Penny Stocks, Penny Stocks $0.10 & Under at Allstocks.com's Bulletin Board.
I currently own restricted shares of Paivis from Juniper merger. As I understood, we couldnt sell until 2yrs was up, this May. However, with Paivis's new merger, we cant do that anymore as they are giving us new shares in Trustcash for our paivis shares.
SO my question is this. What do I need to do with this certificate i have for restricted Paivis shares? Do i turn it into Scottrade and then when merger is complete, I just get new shares in trustcash? are my shares worthless now and I lose out of that money?
Any help or answers would be Greatly appreciated!!
Posted by Chad on :
this was the merger info I was talking about above.
TRUSTCASH HOLDINGS, INC. ("TRUSTCASH") (OTCBB: TCHH) and PAIVIS, CORP. ("PAIVIS") (OTCBB: PAVC) today jointly announced their execution of a Definitive Agreement and Plan of Merger (the "Merger Agreement") pursuant to which TRUSTCASH has agreed, through a wholly-owned subsidiary, to acquire 100% of the issued and outstanding common shares of the PAIVIS, and PAIVIS has agreed, at the closing of the transaction, to become a wholly-owned subsidiary of TRUSTCASH. As consideration in the merger transaction, TRUSTCASH has agreed to exchange shares of its preferred stock ("the Issuable Shares") with PAIVIS's shareholders at an exchange ratio, under the Merger Agreement that values the PAIVIS shares at $0.65 per common share.
Posted by Homersbud on :
Contact your broker. Any divys I've ever gotten from these pos' have been worthless and I don't see why this would be any different, but contact your broker and see what they have to say.
Posted by EverGreen on :
i'm waiting the same answer from my bank (here in switzerland)
... i suspect will be wall paper ...
(maybe in US you can convert certificate in common shares with small fees - here they charge +- usd 500.- and not always is possible to do)
Posted by Homersbud on :
wow, $500? the company ain't even worth $500...lol
Posted by IMAKEMONEY on :