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Posted by: Purl Gurl
In reply to: None
Date:5/26/2005 11:03:33 AM
Post #of 632

Successful Demand For Settlement - Correct NASD Phone

I talked with a specialist at Etrade this morning, twice,
once by my call and a nice return call from Kevin who
is a specialist. Note, Kevin is not customer service,
he is a specialist.

Kevin successfully placed a demand for settlement
for my account.

I also explained to Kevin with market makers at brokers
actively trading GVRP, presumably for profit, this does
create an appearance brokers are increasing corporate
profits by trading while denying customers an ability
to trade. Otherwords, brokers are cornering the market.
He did not know if this is unlawful.

What is good for the goose, is good for the gander.

Some are calling Jennifer Coragela at NASD. She is nice and
willing to offer all she knows, which is not much. Jennifer
provided a telephone for the "correct" NASD department
to call to voice your concerns about GVRP stock.

1 800 925 8156 which is NASD regulations department.

Again, Jennifer is very nice but she simply has no
information from higher up the chain of command. Her
department is not the correct one for phone calls.

I will urge you to call your broker and insist a demand
for settlement be placed. I was successful in doing this,
perhaps you will be as well.

I also urge you to call NASD regulations and voice your concerns.

Please, do not call Jennifer; she is not the right person.

In keeping with my past postings, I will again urge readers
to make contact by phone and email to express your concerns.
Traders must apply constant pressure to motivate the "system"
to resolve issues promptly.

Some have ridiculed me for urging others to take actions. That
is their right. However, I will not allow ridicule by others
to stand in my way, to prevent me from doing all I can to
turn a profit. My only interest is making money. I have no
interest in becoming a mindless minion obeying what the
popular people on message boards dictate.

Take action or stay out of my way.

Please join me in applying pressure. If you do nothing,
you can expect nothing to be done.


Purl Gurl

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Posts: 257 | Registered: May 2005  |  IP: Logged | 

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Originally posted by cruz:
my pending request to withdrawal funds still stands at this moment. if i get the $$$$, i am not paying it back.

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Posts: 502 | Registered: May 2005  |  IP: Logged | 

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Originally posted by Raptorsrule:
Just got off the phone with an Ameritrade broker. I told him i wanted to place a demand for settlement on my account per SEC rules. He said ahh yes...I've heard of this stock plenty this week. He asked me to hold so he could check with the higher ups. He came back and confirmed to me that the SEC was indeed investigating this and until they got word back from them they could not do anyhting. I said so even though the rules state I can place the demand you won't do it....He said the SEC has advised them to take no action of any kind regarding this stock until they get back with them.

The hunt is on...and IMHO they can't change the rules now to cover some poor schmuck co. who screwed up or there will truly be chaos.

This $hit is good!...LOL

Matter of time now IMHO folks...we are gonna make BANK!

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Posts: 1813 | From: Ft. Worth Texas | Registered: Aug 2004  |  IP: Logged | 

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Posted by: Purl Gurl
In reply to: Luckyd0g who wrote msg# 605
Date: 5/26/2005 11:40:33 AM
Post #

RE: I bought last week, by Lucky Dog

There is a joke about a three legged dog named Lucky,

Lucky Dog asks,

"So If I bought last week 5/19...."

Yes, you are entitled to forward split shares. The "deadline"
for buying was before or on Friday, May 20, 2005, last Friday.

Bill Due date was yesterday, May 25, 2005, Wednesday.

Your forward split shares are now officially overdue. Per
SEC regulations, you are entitled to place a demand for
settlement, sometimes called a "demand buyin" which places
you on record as having "demanded" all brokers involved
in your transaction are to settle, otherwords provide you
with your forward split shares.

A company, GLUV, releasing news to not trade shares, a
company making a mistake, does not preempt SEC rules.
Companies, brokers, Wall Street in general, cannot elect
to follow or not follow SEC rules at whim and wish. They
rarely follow rules, but that does not nullify rules.

Regulations require settlement within three days for all
transactions, which includes providing shares and providing
funds, both for either buy or sell. Note, those are three
business days, not calendar days.

One or more brokers are currently in violation of SEC rules
with their not having provided your forward split shares.
I urge you to contact your broker and insist a demand for
settlement be placed for your account.

Doing so is your right and in keeping with SEC regulations.

Do so, or resign to allowing Wall Street to screw you.

Purl Gurl

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Posts: 257 | Registered: May 2005  |  IP: Logged | 

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Originally posted by cruz:
i think i am going to reset my pending withdrawal to come out tomorrow. today would be the third day settlement. tomorrow should be fine - legally.

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Posts: 502 | Registered: May 2005  |  IP: Logged | 

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Originally posted by vg:
Cruz my withrawal went though this morning at 7:30 and at 11:30 it was cancelled

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Posts: 1421 | From: USA | Registered: Dec 2004  |  IP: Logged | 

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Originally posted by George:

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Originally posted by JHenry:
That's one thing that has been on my mind, Scottrade account shows .0002 right now with a market value of .03 with my 150 shares. How can they split the price and not the shares? Who is the one that controls the price of the stock. If the shares have not been approved or released from the DTC how can they split the price. The system just seems to be really screwed up. I can't understand the logic. It would seem like they would have to both at the same time and if there is a problem then trading should be halted until both can be done at the same time. I just don't understand this - they do one but not the other. It drives me crazy when I think about it.

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exactly.. the price refelects the split screwup. So if they reverse the split they can not take back the shares bought this week after the split. The PPS should go back to where it was (6.50) and the shares bought this week could be gold.....

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Posts: 21062 | From: Fort Worth | Registered: Apr 2005  |  IP: Logged | 

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Originally posted by rrttd:
just talked to scotstrae broker tried to place demand for settelment he said never heared of it so hes going to contact their legal dept. he also said that dtc has it under investagation so do nothing till they clear the shares

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Posts: 36378 | From: USA | Registered: Sep 2003  |  IP: Logged | 

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Originally posted by dishgal1:
QUESTION????

Trader: Then why are they continuing to let it trade at all? It should have been halted wouldn't you say?

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Posts: 36378 | From: USA | Registered: Sep 2003  |  IP: Logged | 

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Originally posted by Trader88:
Should have been, but they probably blew it off until now. Now they are all in deeper water. The govt works slowly until it realizes that it's something important. Probably took them 4 days to understand that this really is MAJOR.

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Posts: 502 | Registered: May 2005  |  IP: Logged | 

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Posted by: SpillWay
In reply to: None
Date:5/26/2005 12:57:11 PM
Post #of 54884

I'm not holding any shares of this stock, but it seems to me that eventually the holders of the forward-split shares will have to have their shares delivered and cleared for selling and actually having the proceeds of that sell to use as they wish, or everyone involved has acted in a manner that has brought discredit to the NASDAQ.

Ameritrade, DTCC, and everyone else can dance around this and investigate and try to figure out what to do, but eventually that's what has got to happen or the NASDAQ will start looking like Ken Lay.

It's done. The card has been layed and played. Sorry they screwed up on the forward split ex-dates, but it's a done deal and now someone has got to cover the shares awarded in the dividend.

But can you just imagine the behind-the-scenes scrambling going on right now? Good grief, I'll bet there are some people at NASD that stayed there all night.

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Posted by: SpillWay
In reply to: None
Date:5/26/2005 1:02:05 PM
Post #of 54884

One more thought. I'm sure Ameritrade and everyone else involved is wanting to make DARN SURE that the actions they eventually take are not something that will eventually come back and bite them in the arse.

They're saying, "Here's what we'er faced with, what is the proper, legal, and correct thing to do?"

And a bunch of suits are shrugging their shoulders and saying, "I don't know yet, but don't give away the farm until we figure it out."

Just give them the dividend shares, let them sell them, and proceed to the next problem, eh?

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Posts: 257 | Registered: May 2005  |  IP: Logged |