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You would think they have to do something. They have to some how get this trading again and get back investor confidence. If they do not they might as well be a private company because no one will touch it now.
-------------------- If all goes well then great, if not, make it work.
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How many? Is anybody else requesting their certs? I was going to request certs when I had my millions of shares but decided to wait. I now have 80 r/s shares. If request certs on these am I acknowledging these as my total number shares. I should have 240 mil shares.
quote:Originally posted by George: Looks like I got my Certs in the mail yesterday. Ihave to go by the post office to sign for them.
posted
You think I should refuse the shipment and not even go by there to sign for them? They were sent to me by Scottrade. I did not request them but I saw earlier where someone else from Scottrade was told they were all being mailed. I think it is because Scottie does not want to play with this any longer and is washing their hands of it.
-------------------- If all goes well then great, if not, make it work.
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Got my certificate showing shares of MAMG, certified mail only moments ago. Had to sign for the letter, don't know yet about signing receipt and cert. Prolly gonna ask an atty--
A division head at Ft Worth regional SEC office recently quit to join famous law firm in Dallas; may try to wrangle a coupla answers outta him...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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Is this just Scottrade mailing certs? The other brokers going to do this as well? This could be a precurser to some kind of offer. The company knows this stock will never trade again until we are dealt with somehow. Not only that, any company these guys are affiliated with in the future will get no investors unless MAMG investors are paid for this mess.
-------------------- 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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got my notice yesyerday in mail to come sign for certs has anyone figured out if we should do it or not what will happen if we dont except them
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What's the worst that could happen if you refuse to accept them? If they send them to me, I will refuse acceptance and have them sent back to Scottrade. However, since my shares are in an IRA, I suspect they won't be sending the certs to me, after all. Still showing post-illegal-R/S shares in my account on-line.
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quote:Originally posted by BuyTex: Good question for your broker--but don't ask local office, esp. if it's Scottie, lol
Yeah, my local Scottrade rep is clueless about GVRP/MAMG situation. He doesn't have enough time for me to explain it the way it should be explained. He is a very friendly guy, but the other day when I was pressing him for info about the certs to be mailed out, we both got a bit testy. Not the way I want my relationship with the local rep.
Also frustrating that I cannot get a reply from Scottrade Corporate Compliance, after over a month since I last received an email from the supervisor, Ms. Greene. Numerous emails regarding legality of the R/S, where the R/S details have been posted, etc., etc., have gone unanswered.
This situation really sucks--an extreme understatement.
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This is still interesting 3 months later. Something HAS to happen, the only question is what and when. The fact that it's still not trading as r/s MAMG is a plus for us, IMO. Company/insiders wanted everything to just go away, and it hasn't. Their stock is still frozen, and they can't let that happen indefinitely. For r/s shares, $300 per share must still take place. Unless of course they want to make us an offer.
-------------------- 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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Talked to compliance today. Nice lady. Knows little. Looked up stuff on Yahoo...lol. Started explaining to me about the r/s from Yahoo/Finance Bizwire post. I had to point out to her the source "down at the bottom--it's from the company."
Oh.
I pointed out that a company might say anything it wants to. Pause. Then with a knowing tone:
"Well, I think the SEC might have something to say about them saying just anything they want to."
uh-huh...
Switched to a different issue, one that owes me divvy shares. She reads off where my account got credited 14 cents "in lieu of fractional shares."
I said that's not right; the split was structured such that I'm owed 100 shares.
"O I highly doubt that," she says, giggling. "It was a 750 to 1 reverse split."
"Yup," I say, "with nothing rounded up less than 100 shares."
Tell her I'll find the Web page and call back. She calls me first.
"You're right--we sent notice to the TA last week asking for the shares."
ya--and I'm right about reverse splits, too. You can't r/s w/o adjusting the pps.
Back to SEC and NASD...also to this character: Michael Oxley, Chairmman, Committee on Financial Services; US House of Representatives; 2129 Rayburn House Office Building; Washington DC 20515
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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Of course the best thing to do here is to make the T/A insurance pay this $41,000,000 bill. Make 'em hurt like hell, or this is going to happen again and again. It already has with BCIT. This is just the beginning of the "phantom share" scams unless they put a hurting on the ones involved. Make the insurance pay out big and I guarantee this will never, ever happen again. Come on SEC, make an example out of this, set a precedent!
-------------------- 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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"Come on SEC, make an example out of this, set a precedent!"
That will never happen. Christopher Cox is in charge of the SEC as of this month. Warned you boys about him, many times.
Cox is about as corrupt as can be. He was even indicted twice for a Ponzi scam which ripped off thirty some odd million dollars from the elderly here in California.
Financial crime and corruption will increase dramatically with Cox in charge.
GLUV, I estimate they walked away with a cool half-million to one-million in illegal profits.
With Cox in charge, GLUV is a dead issue. Your money is gone for good.
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at least, speaking coherently? one can challenge later..."well, you said..."
with dubya? who knows what he said?
i mean, cuz the problem, well its not really a problem for the American poeple, well it could be for some people, but then they're not Americans or, at least, not people, well they might say they are, but they don't recognize the problem....
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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Purl Gurl... were your GVRP shares R/S'ed into MAMG shares? Did your brokerage firm send you certs? What are your plans for your certs when/if you receive them?
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quote:Originally posted by Purl Gurl: "Come on SEC, make an example out of this, set a precedent!"
That will never happen. Christopher Cox is in charge of the SEC as of this month. Warned you boys about him, many times.
Cox is about as corrupt as can be. He was even indicted twice for a Ponzi scam which ripped off thirty some odd million dollars from the elderly here in California.
Financial crime and corruption will increase dramatically with Cox in charge.
GLUV, I estimate they walked away with a cool half-million to one-million in illegal profits.
With Cox in charge, GLUV is a dead issue. Your money is gone for good.
Bush's fault, right Purl?
-------------------- One is never completely useless. One can always serve as a bad example.
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Don't know about GVRP, but just about everything else in the world right now is his fault. Too bad the election was held before all the knuckleheads finally had time to realize that.
-------------------- 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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Paper certificate arrived from Scottrade today. My dad always said paper certs aren't worth the paper their printed on. Could probably use it to start a fire in the fireplace with. Anyone else have any ideas on what to do with this thing. Does anyone think I would be able to send it to another brokerage account. I have one at Ameritrade and another with Vanguard. I haven't called either of them yet to find out. I was thinking I might wait a while to see how things play out with the other brokerages.
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Heck, I'd still like the NASD to verify whether *anybody* can r/s without posting it. Suspect SEC has chased them into limbo and feel mission is accomplished...
to me? that's like using more and more deoderant to cover the stench of decaying meat...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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Some Important questions: * Why was GVRP/MAMG not on REG SHO list? * How can brokers RS without NASD/OTCBB Authority? * How can someone with a HUGE SHORT position ever balance their account(s)
-------------------- 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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I have a long history of emails I sent to Scottrade's Compliance Dept Supervisor that were never answered, asking about the legality of the R/S. I will happily send these along to NASD.
For those of you who received certs from Scottrade without authorization, you could complain here too. Make sure that you have contacted Scottrade already--if you have an email trail saved, that would be helpful to list.
posted
AT claims any issue with rule 10b-17 is a problem for the issuer, MAMG, and not the broker. They told me in writing that was CC'd by letter to the SEC that they had the authority to do the RS based on instructions from the TA only. No mention of the DTC authority and unnamed source appeared in the letter I got today that also went to the SEC.
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