posted
i did call ameritrade. i asked why there was trading going on and i can't trade. she says - the trading involved the company reorganizing their securities. doesn't make sense. like i said these brokers don't know what's going on really. she says i need to callGVRP to find out the company plans on doing. LOL
by the way keithsan - good job on txei!
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posted
This is the biggest bunch of bs I have ever seen. Why don't they come to a damn resolution on this. This is insane
-------------------- My posts are my opinion only, and should not be construed as a recommendation to buy, sell, or hold any security. Do your own due dilligence.
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posted
ihub golden list has GVRP bashers, thats hilarious! Must really be something to this, LOL.
-------------------- My posts are my opinion only, and should not be construed as a recommendation to buy, sell, or hold any security. Do your own due dilligence.
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posted
Well now I have been disconnected from Etrade 4 times. Allthough, the last one I spoke with said the split shares have been delivered. Opps now they are saying they havent been delivered. SHHSH!!! What BS!!! and what do ya know yet another "disconnect"
-------------------- Never underestimate the power of stupid people in large groups.
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Posted by: matrix In reply to: garrett800ca who wrote msg# 1212 Date:6/12/2005 3:01:29 PM Post #of 1245
The only problem was that we didn't get our due bills, I think that is why the stock was suspended.
Nope, guess again.
Everything else is by the book, they chose the date of the r/s and f/s, they chose to sell shares early. Nothing illegal about that. All done by the book. The only thing that broke the rules is when our due bills became overdue. Why do you think they waited until Friday the 27th to halt? Because before that, there was no reason to.
They violated a number of regs here. To suspend a stock, the SEC staff has to collect information first then present a case to the commission who ultimately decides whether its proper to suspend. This takes time.
Reverse trades? I would like to hear one good reason why they would even think of doing that.
People have presented possible reasons. You have chosen to ignore them.
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posted
I have spoken with AmTrade once and emailed 3 times. The first 2 replies were the typical BS general responses with no real info. The third I wrote, just flat out asked them what the problem was, suspension had ended, now what was going on.
That email was sent at 9:15........no response yet. The other 2 were answered within minutes.
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posted
I want to know what the hell the SEC did for two weeks! Sure they've lifted the suspension but they issued the "we still don't know WTF is going on so you better be careful...." letter....
WHAT A JOKE
Yes...I'm getting pissed again!
-------------------- Raptor----Don't confuse bad luck with bad judgement
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posted
the warning was from NASD; seemed double-edged to me, as in, "verify the shares" to one audience, yet "must follow the rules" as in must deliver (?) to another...??? I dunno...the fact that it traded at all is encouraging to me. Even though still confusing, any action is better than it simply sitting there...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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posted
Raptor, I belive Im passed pissed. Etarde "disconnecting" for 6 times now. Just left a message with NASD (202-728-8071). Secertary gave me the voice mail. But according to her there has been several calls today, about GLUV (go figure). But also assured me, my call would be returned, by someone who was fully aware of the situation.
-------------------- Never underestimate the power of stupid people in large groups.
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posted
TEX...I hear ya....but...NASD, SEC...whoever...fact is they've had two weeks to get this resolved...and it clearly isn't.
Just got off the phone with AMTD...no new news. I did ask the fellow point blank. "were the shares now residing in my account delivered to AMTD" His response: Yes. The reason we are not letting our clients trade is because intil we get a ruling the company could take the shares back. I asked him if he had ever seen that happen before and he stated yes, once. It was quite a mess.
My friends....there is no way in hell they can take the shares back in my opinion.
-------------------- Raptor----Don't confuse bad luck with bad judgement
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posted
I think it's *possible* that it is resolving:
1) SEC did not issue another suspension, thereby letting it "go back" to NASD, under whose authority it trades
2) we saw trading--somebody's buying. Why?
3) Ameritrade verified once again that your shares are in your account; whether the company can pull them back now is debateable, imho, but clearly they could not pull back "imaginary shares," ergo, they exist. A good sign, imo, *perhaps* indicative of the theory that Ameritrade and Wells Fargo shares will be bought to send to the DTC...
4) NASD could issue a "halt," but instead, reportedly tells one caller more or less to "stay tuned" and look for update on NASD Web site later today...
to wit an update from that poster, to fellow board members quizzing him about why he thought the NASD response was, indeed, "positive":
quote:Posted by: uwm135 In reply to: fung_derf who wrote msg# 61630 Date:6/13/2005 11:18:30 AM Post #of 61676
What made it positive was that she talked very nicely that they wereaware of the situation and she said to stay tuned to the NASD website. SHe said that an update will be given by the end of the day.
To me thats positive. She was very nice. Their are not going to bust all trades thats for sure as you can all see now. It traded today again. I dont belive it will be suspended again.
It just sounded positive.
Frank
then another...
quote:Posted by: uwm135 In reply to: None Date:6/13/2005 11:21:53 AM Post #of 61678
Everyone should call NASD Office and Demand questions. Phone numbers where u can call are :2403865126 or 202.728.8071.
OTCBBKING. I belive they want this resolve and they did say just sit and wait. another update will bve given by end of day call ameritrade later. Reason I say this and it sounded positive is beucase when I said i felt it was criminal them {he's referring to Ameritrade --bt}not letting me sell my shares she said to call them later.
Frank
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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posted
Answer to 9:15 email.....that's Tx. time....finally got a response....Note the phrase---- "Our policies are intended to balance the needs of the client and the Firm, and to offer risk avoidance to both parties."
Seems they are worried about liability IMO.
Thank you for contacting us today regarding GVRP.
I apologize for any frustrations this may have caused you. While we appreciate that other firms may have different policies concerning trading activity for this security, Ameritrade reserves the right to process orders pursuant to our own policies and guidelines. Our policies are intended to balance the needs of the client and the Firm, and to offer risk avoidance to both parties.
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posted
Raptor, we are dealing with Wall Street. They will do whatever they want with impunity. Those actions taken, will be those which profit the most, Wall Street and friends.
Personally, I don't expect any favorable outcome for individual investors. I do expect GLUV and market makers to profit significantly, and their profits will be enabled by Wall Street, which includes the DTCC, NASD, the SEC and the rest.
It is clear security laws are being violated, and are done so with knowledge individuals cannot do anything about that.
If you, the reader, think "things" are bad now, wait until Bush installs Cox to chair the SEC.
To suffer less pain and aggravation, you really should simply bundle up your life savings, in cash, then mail your money to the famous ranch over in Crawford, Texas.
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posted
Does anyone know why some brokers, ie Ameritrade and Scottstrade openly admit to having recived the post split shares. While Etrade, will admit to having the shares, then say, no they have not been delivered. Is this even possiable? Could some post split shares been delivered to some brokers, but not others?
-------------------- Never underestimate the power of stupid people in large groups.
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Important Information Regarding the Suspension of Trading in the Securities of Gluv Corp.1 Executive Summary
NASD is issuing this Special Notice to Members (Special NTM) to advise member firms and other interested parties of certain actions and issues relating to the trading of the securities of Media Magic, Inc. (formerly known as Gluv Corp.). This Special NTM also is intended to remind members of their responsibilities with respect to Securities and Exchange Commission (SEC) Rule 15c2-11 and NASD Rule 6740.
Questions regarding this Special NTM may be directed to the Office of General Counsel, Regulatory Policy and Oversight, NASD, at (202) 728-8071; or the Legal Section, Market Regulation, NASD, at (240) 386-5126.
1 NASD has been informed by issuer’s counsel that Gluv Corp. has changed its name to Media Magic, Inc., although NASD has not received formal notice of such.
Gluv Corp. Announces Issuance by NASD of Special Notice Warning Member Firms About Trading in Gluv's Common Stock Business Wire - June 13, 2005 12:21
WEST PALM BEACH, Fla., Jun 13, 2005 (BUSINESS WIRE) -- Gluv Corp. (Pink Sheets:GVRP) announced today that the NASD had issued a Special Notice admonishing NASD Member Firms and other interested parties to "exercise great caution when executing customer or proprietary trades, including member-to-member transactions for the purposes of resolving open fails, until such time as members can be assured that the shares in circulation were part of a bona-fide issuance."
The NASD's notice continues by stating: "Members are reminded that, pursuant to SEC Rule 15c2-11 and NASD Rule 6740, no quotation may be entered unless and until a member has complied with all of the requirements of the rules, including SEC Rule 15c2-11(a)(5). SEC Rule 15c2-11(a) requires, among other things, that based on a member's review of the issuer information specified therein, a member must have a reasonable basis under the circumstances to believe that the issuer information is accurate in all material respects and the sources of such information are reliable. Until the questions surrounding the information and documents of Gluv Corp. are resolved, member firms should be aware, that in the context of Form 211 filings, NASD has significant concerns as to whether a member would have a reasonable basis to believe the accuracy or reliability of information relating to Gluv Corp."
The notice concludes by advising the member firms that: "SEC staff has indicated that it will entertain requests for relief by firms with regard to the net capital charges related to trades in Gluv Corp. that occurred before the close of business on May 27, 2005, but that such relief will not extend to trading that commences after the cessation of the temporary suspension."
In order to prevent further trade settlement problems from occurring while a solution to the problem is implemented, the company has instructed its transfer agent not to permit any transfers of ownership of its shares to be recorded on the stock records of the company.
SOURCE: Gluv Corp.
For Gluv Corp., West Palm Beach D. Ruggeri, 561-491-0870 info@mediamagicinc.com
Copyright Business Wire 2005
-------------------- Raptor----Don't confuse bad luck with bad judgement
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posted
missed this the first pass through, athough the PR takes pains to mention it:
quote:"SEC staff has indicated that it will entertain requests for relief by firms with regard to the net capital charges related to trades in Gluv Corp. that occurred before the close of business on May 27, 2005, but that such relief will not extend to trading that commences after the cessation of the temporary suspension."
yet another time distinction....hmmmm
Also, notice it mentions a solution...they're trying to run the bogus 250 trillion through? Then why the buying this morning?
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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Ameritrade has made the decision not to allow further trading based on guidance from the SEC which states "Although trading will no longer be suspended, members should exercise great caution when executing customer or proprietary trades, until such time as members can be assured that the shares in circulation were part of a bona-fide issuance."
We are required by the SEC and NASD to have a reasonable basis to believe that the issuer's information is accurate in all material respects and the sources of such information is reliable. Until questions surrounding the information and documents of Gluv Corp. are resolved, we do not have a reasonable basis to believe the accuracy or reliability of the information surrounding Gluv Corp.(GVRP).
If you have further concerns or inquiries, please reply to this message.
Sincerely,
Brian McCarthy Apex Trade Resolution, Ameritrade Division of Ameritrade, Inc.
-------------------- Raptor----Don't confuse bad luck with bad judgement
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