posted
There is only one way I have experienced that removes a CERT restriction. The CERT MUST go to the TA for validation and then the TA produces another PAPER CERT that has no restriction listed. All that along with the SEC requirements.
The CERT will have a legend that indicates the restriction. The CERT must be re-printed without the restriction.
Most brokerages will not hold restricted stock for you in their vault unless it is set to unrestrict in 30-60 days. It is far easier and less costly to send the CERT to the TA and get the restriction removed. In other words, a CLEAR CERT is sent back.
It sounds to me like he filed a 144 and asked the brokerage to clear the CERT with the TA and they allowed him to sell before it was cleared.
He needs to take Phil's advice.
Yes, I own restricted shares.
-------------------- - "Pay it Forward"
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quote:Originally posted by Chartwalker: I didn't "short" the SOB, so why should I when I sell have to "BUY" shares at market price to cover?!
Call your brokers and raise hell!!!!!!!!!
This does not make any sense guys...are we sure about this?!? The contract between us (the investor) and them (the brokerage firm) is that you are buying shares (legit shares) from them. How on earth can it be legal for them to sell us shares that are short (that they don't own) and it is our responsibility to cover them when we try to sell?!? If that is the case, why would anyone invest at all? Why wouldn't everyone just put their money under their mattress?!?
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quote:Originally posted by Chartwalker: I didn't "short" the SOB, so why should I when I sell have to "BUY" shares at market price to cover?!
Call your brokers and raise hell!!!!!!!!!
This does not make any sense guys...are we sure about this?!? The contract between us (the investor) and them (the brokerage firm) is that you are buying shares (legit shares) from them. How on earth can it be legal for them to sell us shares that are short (that they don't own) and it is our responsibility to cover them when we try to sell?!? If that is the case, why would anyone invest at all? Why wouldn't everyone just put their money under their mattress?!?
quote:Originally posted by TaxBack04: I have a new goal now! I think I will hold my CSHD till the 15th day after the Grandfather Clause is abolished from RegSHO. I should get near a grand a piece for each of them when the grim reaper comes calling for NITE and his criminal friends.
Who was it "glassman" who told me and others not to blame the MM's they are not totally evil? Oh I agree, but according to the letter posted this morning they aren't exactly looking out for my best interest either.
An MM should be the most fair minded guy on the planet. He should have the buyer and the sellers interest at heart not his own. And if he can't do it then their should be laws preventing him from abusing his power, jailing him for robbing the poor and feeding himself.
I agree Tax...talk about a conflict of Interest!!! How is this legal?
-------------------- "If you go the Extra Mile there will be no Traffic Jams".
quote:Originally posted by Chartwalker: I didn't "short" the SOB, so why should I when I sell have to "BUY" shares at market price to cover?!
Call your brokers and raise hell!!!!!!!!!
This does not make any sense guys...are we sure about this?!? The contract between us (the investor) and them (the brokerage firm) is that you are buying shares (legit shares) from them. How on earth can it be legal for them to sell us shares that are short (that they don't own) and it is our responsibility to cover them when we try to sell?!? If that is the case, why would anyone invest at all? Why wouldn't everyone just put their money under their mattress?!?
quote:Originally posted by Chartwalker: I wonder if we should get our certs?...
If Rufus is for real then this baby is going to be way over a buck after reset for a very long time!
So what if ittakes a day or so to turn in the certs, at least you WILL have them ~
-thoughts?...
Chart: I was under the impression that the only people that needed to get the certs were those who held stock before the merger...am I wrong about this? If I bought CSHD shares (cshd symbol), should I still consider getting my Certs? I do not have a margin account, so my shares can't be shorted...but do I need to be concerned with having bought (already) shorted shares?
-------------------- "If you go the Extra Mile there will be no Traffic Jams".
quote:Originally posted by Chartwalker: I didn't "short" the SOB, so why should I when I sell have to "BUY" shares at market price to cover?!
Call your brokers and raise hell!!!!!!!!!
This does not make any sense guys...are we sure about this?!? The contract between us (the investor) and them (the brokerage firm) is that you are buying shares (legit shares) from them. How on earth can it be legal for them to sell us shares that are short (that they don't own) and it is our responsibility to cover them when we try to sell?!? If that is the case, why would anyone invest at all? Why wouldn't everyone just put their money under their mattress?!?
Click link below St.Matt! "The BIG Picture"
St. Matt, your response to Chart above is correct. Sorry if I sounded rude in my last response to you
-------------------- Success is having the time and money to enjoy all of life's wonders...
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NOPE! No one knows...and I even asked on another board...apparently it isn't an issue with anyone else..only with me... everyone is under the impression that the 10k will be "financials from both companies"...just not sure how that is going to work...Benson is ONLY doing CVSU prior to June 30 06...soooo...dunno...
quote:Originally posted by RichBy26: hey 10, I was unable to get a difinative answer to your question about FHAL's audited fins. Were you able to track anything down??
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!
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I am just very concerned that someone is going to be playing games with "legal language" that somehow allows them to weasel out of me being able to freely trade my shares.
With millions of dollars at stake for me... I'm definitely getting my lawyer involved... or at least caught up with the situation in the event that I need him.
I just don't feel like they are going to make this easy.
"Oh well... we fu-ked up... here's your millions of dollars."
Sorry.. a bit pessimistic as I have witnessed first hand what big money and a team of high priced lawyers can get you. Generally whatever you want.
quote: I agree Tax...talk about a conflict of Interest!!! How is this legal?
It is legal because the lobbist for the Brokers and MM's greased the palms of the lawmakers who wrote the "Grandfather Clause" into Regulation SHO. They also left out the sentence, "All parties with a short position in the threshold security must show a "good faith" effort to close their positions within 30 days of the security reaching threshold limitations, or said parties will go directly to jail, do not pass go, do not collect $200, and you will not recieve a "get out of jail" card. Game over, burn and rott in **** you shorty loser." End quote.
(I think I should write policy in Washington watta you think?) LOL
quote:Originally posted by Chartwalker: Dear Mr. James Bond (my edit! he he! )
Thank you for your email. What does the term "Fail to Delivers" (FTD) mean? As far as your shares of Conversion Solution (CSHD) you own xxxxx shares held in street name at Scottrade.
Please let us know if you have any further questions.
Thank You,
Matthew H. National Service Center Scottrade, Inc. -------------------------------- I emailed them back again with link to NOBO list. I'll keep you posted..
Chart: can you send me the e-mail address to this guy and I will send him the same e-mail.
-------------------- "If you go the Extra Mile there will be no Traffic Jams".
quote:Originally posted by Vin: ..thought we resolved this already....????
quote:Originally posted by St. Matthew:
quote:Originally posted by Chartwalker: I didn't "short" the SOB, so why should I when I sell have to "BUY" shares at market price to cover?!
Call your brokers and raise hell!!!!!!!!!
This does not make any sense guys...are we sure about this?!? The contract between us (the investor) and them (the brokerage firm) is that you are buying shares (legit shares) from them. How on earth can it be legal for them to sell us shares that are short (that they don't own) and it is our responsibility to cover them when we try to sell?!? If that is the case, why would anyone invest at all? Why wouldn't everyone just put their money under their mattress?!?
Sorry guys...trying to get caught up...I'm at work and it takes a little while.
-------------------- "If you go the Extra Mile there will be no Traffic Jams".
quote:Originally posted by 10of13: So..let's say that Etrade only has 1M of these shares...BUT they have clients that "own" 5M of these shares...I go to sell...can etrade tell me that I don't really have the shares and I have to cover because I sold these shares...even though etrade never informed me of a FTD? What responsiblity does etrade or what ever broker have to me that covers my butt? At the end of the day if etrade didn't get my shares...then they should inform me...right? Do they have the right to leave these fake shares appearing in my portfolio and I think that I have them and then when I sell etrade comes back to me and says..."umm, well, actually...."?
Very interesting situation here. So say if they do only have 1M real certs, but 5M "owned". I'm wondering if its a first come - first served deal. As example, I request my certs, they will pull from the pool and I'll get my certs, but at some point they will run out. Then what?
Now if I was to sale my shares, I guess they could either sale from the pool or just cancel out some of the fake shares. I'm guessing they would get rid of fake shares at this pps, but when this thing takes off, I imagine they might be getting rid of real shares before the fake ones.
quote:Originally posted by Chartwalker: Dear Mr. James Bond (my edit! he he! )
Thank you for your email. What does the term "Fail to Delivers" (FTD) mean? As far as your shares of Conversion Solution (CSHD) you own xxxxx shares held in street name at Scottrade.
Please let us know if you have any further questions.
Thank You,
Matthew H. National Service Center Scottrade, Inc. -------------------------------- I emailed them back again with link to NOBO list. I'll keep you posted..
Chart: can you send me the e-mail address to this guy and I will send him the same e-mail.
quote:Originally posted by RichBy26: geez guy, don't you read our posts?? Get your certs already if your that concerned...
I should not HAVE to get my certs...that is my whole point here...didn't you read mine...geez right back at ya. Gotta tell you though...when I was at Fidelity, I never ran in to this once...not one single time. Things must have changed in the last 15 years.
-------------------- "If you go the Extra Mile there will be no Traffic Jams".
quote: I agree Tax...talk about a conflict of Interest!!! How is this legal?
It is legal because the lobbist for the Brokers and MM's greased the palms of the lawmakers who wrote the "Grandfather Clause" into Regulation SHO. They also left out the sentence, "All parties with a short position in the threshold security must show a "good faith" effort to close their positions within 30 days of the security reaching threshold limitations, or said parties will go directly to jail, do not pass go, do not collect $200, and you will not recieve a "get out of jail" card. Game over, burn and rott in **** you shorty loser." End quote.
(I think I should write policy in Washington watta you think?) LOL
Don't do that! I saw $200 and thought that was the latest price re-evaluation...
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This is actually kinda funny to read. St. Matt has obviously not caught up to the thread yet and keep replying late. Rich already apologized and now he's just quoting his original response! LOL Kinda like a time warp thing...
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Ahhh yes, the ole' FTD trump card. That is popping up now more and more, eh?
Some of you really need to take your Series 7 classes and learn how the markets really work. If you don't understand FTD and are investing in stocks like this, you deserve to lose money.
-------------------- Stick with Repo's plan in '07 - FRPT/DKAM!
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Wow, that's a little harsh, isn't it? I don't know a ton of what's going on, but I'm definitely learning a LOT from this board. ...So, I invest accordingly. I'm not about to empty out my savings on something that I'm not fully informed on, but just because I invest a "bit" on the "bit" of information I know, doesn't mean that I deserve to lose my money. There are all levels of experience/knowledge here.
quote:Originally posted by Repoman75: Ahhh yes, the ole' FTD trump card. That is popping up now more and more, eh?
Some of you really need to take your Series 7 classes and learn how the markets really work. If you don't understand FTD and are investing in stocks like this, you deserve to lose money.
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Gotta tell you though...when I was at Fidelity, I never ran in to this once...not one single time. Things must have changed in the last 15 years.
