posted
"...it will entertain requests for relief...."
Translation: We are not going to do anything.
"...by firms with regard...."
Translation: Market Makers only.
"...to the net capital charges...."
Translation: Net charges to Market Makers, not individuals, that is "net" not "gross" charges.
"...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."
Translation: We are going to do nothing and we are covering our arses from here on in.
"...the company has instructed its transfer agent not to permit any transfers of ownership of its shares...."
Translation: We are not going to cover naked shorts.
--
Summary: Investors are screwed again by Wall Street!
--
Next up, GLUV floods markets with trillions of shares, at no cost to them while pocketing funds received from buyers early on, and while bringing in more funds from sells of trillions of shares to gullible gits.
posted
"...whoever f'd up and sold the shares...."
Translation,
Wall Street, which is comprised of the SEC, NASD, DTCC, Market Makers, brokers and companies, have and will deliberately ignore their own rules on naked short selling.
The transfer agent for GLUV messed up, discounting a possibility this was a planned action. In the end, which is where we will get it, GLUV and Wall Street will come out all rosey and dandy.
All of this sets precedence for actions like this in the future. Wall Street and companies are now becoming aware they can make a "mistake" selling "enticing forward split" naked shorts, pocket the money, refuse to cover, then authorize more shares to sell to the gullible along with, if needed, creating "cover" shares, just in case.
Great scam to which the SEC will turn a blind eye.
Entice buyers with naked forward split shares, then authorize shares to cover. Impressive!
Hey, if you don't buy a lottery ticket, you won't win the lottery! We took a chance, and Wall Street won again with help from a corrupt government.
posted
on my scottrade account it still shows 40 sh and they took away the little # by it that was there last week that ment i couldnt trade it but when i go into gains keeper of S.T. it shows 120000000 shs i wonder can i take that amount and deduct it off taxes for this year
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I called Amtd to see where I stand. Since I sold 100 million of my 300million shares. So she says I have the 200 million I can sell them but can not remove any of the funds from the sell of or from my previos sell of 100 million until they get word what to do. Has anyone tried to use the funds that they sold to buy other stock and did that work. I assume it wont but just checking in.
posted
Then we should all contact AMTRADE and let them know if they are responsible for doing that, they will be losing a lot of customers.
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posted
Personally, I think those Texans are responsible for this mess.
Readers need to be very careful about Wall Street using terms, "net" and "gross" in statements. The SEC used "net" for a reason unknown to us. That word was not a casual insertion.
Semantics are one of Wall Street's weapons to defraud individuals, to defraud America.
Often, a company will release very good news with a subject title, "...record breaking gross profits."
That is gross deceit.
Savvy traders will look at net profit and will look at how that net profit was calculated.
Gross Profit: $100,000,000 CEO Pay: $125,000 plus stock options. Expenses: $125,000,000 Net Profit: loss ($250,000,000)
If you, the reader, do not instantly realize the reason for the net loss, grab your money and run like Hades to the arms of Momma!
Christopher Cox, the Bushie nomination to chair the SEC, is a strong opponent to stock option disclosures. He will help conceal how employees are actually paid, to the detriment of investors.
Expenses! Look at a 10Q for RVNM and you will quickly realize where those expenses derive.
The SEC carefully chose semantics in their news. Use of "net" and "firms" is legalese CYA.
posted
"The transfer agent for GLUV messed up, discounting a possibility this was a planned action. In the end, which is where we will get it, GLUV and Wall Street will come out all rosey and dandy"
My bet on this play is that GLUV wont be all fine and dandy, if Nasd wanted it that way, it would be finalized already.
Hopefully they make the F'ups play by the rules no matter who it be, and their insurance agencies. They are currently entertaining relief for these screwups,! I doubt they will let them off scottfree.
posted
PG writes-- ""Readers need to be very careful about Wall Street using terms, "net" and "gross" in statements. The SEC used "net" for a reason unknown to us. That word was not a casual insertion.""
that's why I grabbed that link to "net profits," and looking for more.
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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posted
when reading SEC mumble jumble I like to borrow the ed pages of universities, they sometimes explain better: findem easily thru google. Rule stated in Pr:
Some say on the grays. Others say private trades. A broker said something about GLUV restructure of shares. Another rumor is TD Waterhouse is allowing trades through Canada. Who knows?
My feed shows no market makers, but other feeds might show market makers.
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posted
"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."
This is blowing my mind. How can they just decide this? Unbelievable.
-------------------- 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
Looks like it's time for lawyers. There HAVE to be some legal remedies here, they cannot just instruct their T/A not to deliver shares!
OK, then I guess the new precedent is this:
Dump insider shares into a buying market with due bills attached, take your money you made, then solve it by barring your T/A from issuing the due bills!
Simple, easy money. I wouldn't be surprised to see this being the new pink sheet scam tactic perpetrated on the public.
-------------------- 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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quote:Originally posted by dishgal1: 10 million more traded....BS here.
This is what I want to know: Someone is trading this, however small. If they are allowed to, why can't I? This is outrageous, I'm contacting the SEC with my current concerns this afternoon.
-------------------- 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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Trader it is truly outrageous....who is making the trades? I don't believe it is the company adjusting either. By their opinion, there is nothing to adjust.
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posted
I'm pushing every button I know to find out who's buying/selling...NASD gave me the runaround for 15 minutes, then finally said they'd walk my name and number "over to Legal." I'd love to find out DTC is buying or forcing the original sellers to buy...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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posted
here's my email reply from ameritrade re volume today.
Thank you for contacting us today regarding GVRP.
I apologize for any inconvenience this may have caused. We are aware that GVRP resumed trading today; however, Ameritrade is not accepting any opening or closing transactions for this security at this time. We do not have further information on when the restriction will be lifted. Thanks for your understanding and patience.
If you have further concerns or inquiries, please reply to this message.
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posted
Thank you for contacting us today regarding GVRP.
I apologize for any inconvenience this may have caused. We are aware that GVRP resumed trading today; however, Ameritrade is not accepting any opening or closing transactions for this security at this time. We do not have further information on when the restriction will be lifted. Thanks for your understanding and patience.
If you have further concerns or inquiries, please reply to this message.
That's funny they told me over the phone I could only sell but couldn't use the funds for anything.
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