posted
Ameritrade called me back and they said that they were breaking my trade and that they would cover everything that happened. So I am getting my restrict shares back at the price I paid for them on Friday.
posted
I sent an email to Ameritrade on Monday asking if my new shares of PAIV (converted shares from JPHC)were restricted. I got a reply today at 4:01 pm:
Thank you for submitting your e-mail inquiry to our TD AMERITRADE Apex Team.
In order to best address your inquiry, your e-mail has been forwarded to a team that specializes in these types of issues. Typically, their hours of operation are Monday through Friday from 8 a.m. until 4:30 p.m.
If your inquiry or request concerns a trading or market sensitive issue, we strongly urge you to phone our Apex Team toll free at 888-871-9007 or from most areas outside of the United States, 800-598-2629, 24 hours a day, 7 days a week.
TD AMERITRADE cannot be responsible for changes in market prices that may occur while e-mail responses to market sensitive issues are processed.
posted
Wow, if that's all true about Ameritrade, I'm really happy for you guys.
I'm going to check with Scottrade tomorrow about my situation. I had sold at .0011 and bought back at .0021 for about a $4700 loss. I wonder if they'll reimburse me any of that. It's a different situation because they told me I'd be responsible for the stock if they let me sell it before they had it in their posession, but it's worth asking, since they probably shouldn't have let me "short" the stock.
Oh well, I'll get over it either way.
I do feel much better about the people that were literally facing bankruptcy, etc over all of this befoer AT said they'd cover them.
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I hope it works out for you with Scottrade. From what they were telling me is that Ameritrade was given the shares without it restrict. So, Ameritrade is still going to talk to PAIV about what happened.
All I know is that I am getting my shares back and no margin call of $1 million. I knew that Ameritrade would not screw their customers like that or they would have to face litigation from a lot of people.
The funny part to all this when I talked to the representative was that I am one of many they have to call back tonight.
Anyway, they told me that my account on the website would be back to normal tomorrow.
posted
Glad to here good news for everyone...Hope everyone that had shares from JPHC keep the faith, afterall, Im guessing that us shareholders made a good % gain on this after conversion, depending on where u bought JPHC at. If you bought at .0003, then you probably will be making a very big jump from initial investment right off bat. I bought at .0006, maybe should have bought more at 3, but didnt want to have all funds stuck for 2 yrs. I just hope PAIV maintains price for a couple yrs!!
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quote:Originally posted by PCola77: Wow, if that's all true about Ameritrade, I'm really happy for you guys.
I'm going to check with Scottrade tomorrow about my situation. I had sold at .0011 and bought back at .0021 for about a $4700 loss. I wonder if they'll reimburse me any of that. It's a different situation because they told me I'd be responsible for the stock if they let me sell it before they had it in their posession, but it's worth asking, since they probably shouldn't have let me "short" the stock.
Oh well, I'll get over it either way.
I do feel much better about the people that were literally facing bankruptcy, etc over all of this befoer AT said they'd cover them.
You know, PC...I wonder... might be worth talking to an attorney, *then* talking to Scottie. I'd for sure ask what cusip was sold, and what was bought back. iow, if you sold "so-called" restricted shares--presumably with "X" cusip--and bought back free-trading shares--presumably with "Y" cusip--how have you "covered"? See what I mean? If traders can't short pennies, how can you be "short"? If Ameritrade is covering, why can't Scottie get them from A-trade, then bust your buyback?
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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posted
I'm not an attorney kind of person. If they'll work with me, great, if not, oh well. I'd rather be out the $4k than deal with the hassle of any litigation.
Thanks for the advice though, other people here may be well served going that route.
I'll let you al know how it turns out.
quote:Originally posted by BuyTex:
quote:Originally posted by PCola77: Wow, if that's all true about Ameritrade, I'm really happy for you guys.
I'm going to check with Scottrade tomorrow about my situation. I had sold at .0011 and bought back at .0021 for about a $4700 loss. I wonder if they'll reimburse me any of that. It's a different situation because they told me I'd be responsible for the stock if they let me sell it before they had it in their posession, but it's worth asking, since they probably shouldn't have let me "short" the stock.
Oh well, I'll get over it either way.
I do feel much better about the people that were literally facing bankruptcy, etc over all of this befoer AT said they'd cover them.
You know, PC...I wonder... might be worth talking to an attorney, *then* talking to Scottie. I'd for sure ask what cusip was sold, and what was bought back. iow, if you sold "so-called" restricted shares--presumably with "X" cusip--and bought back free-trading shares--presumably with "Y" cusip--how have you "covered"? See what I mean? If traders can't short pennies, how can you be "short"? If Ameritrade is covering, why can't Scottie get them from A-trade, then bust your buyback?
I had sold with Scottrade, but since I had to buy back at a loss and didn't have enough money in Scottrade, I bought with my Choicetrade account. Filled out the forms to do a DTC transfer from Choicetrade to Scottrade and just got the following e-mail:
Dear Client:
This is in regards to your recent request to DTC PAIV to another firm. We are unable to DTC the stock because the stock has been frozen. Please let us know if you have any questions.
posted
Ya, seriously, I'd get an opinion--let's say a top-notch guy is $500/hr... use the whole damn hour to explore explore every angle, *then* plan your work/work your plan, type deal. if you get back, say even 1/2, it would be money well spent, I'm thinking...
Let's put it this way...you basically sold a "claim" on restricted shares, right? I mean, that's all Scottie had "electronically"...well, there's no market value on those shares...how did buying free-trading PAIV help anything? To my mind, you can sell those tomorrow morning for a nice gain... Well, I understand Penson is saying "frozen," but isn't it likely they're slow on the Ameritrade buy-in? Anyway, ya...good securities attorney could pay off here...
best wishes, --tex
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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posted
Unfortunately time is the other issue. We have a big governemnt deadline at work of June 5th, and everyone in my office has pulling 70+ hour weeks the last month or so and the next two weeks are going to be worse. I wonder if Scottrade will let me slide until after that
quote:Originally posted by BuyTex: Ya, seriously, I'd get an opinion--let's say a top-notch guy is $500/hr... use the whole damn hour to explore explore every angle, *then* plan your work/work your plan, type deal. if you get back, say even 1/2, it would be money well spent, I'm thinking...
Let's put it this way...you basically sold a "claim" on restricted shares, right? I mean, that's all Scottie had "electronically"...well, there's no market value on those shares...how did buying free-trading PAIV help anything? To my mind, you can sell those tomorrow morning for a nice gain... Well, I understand Penson is saying "frozen," but isn't it likely they're slow on the Ameritrade buy-in? Anyway, ya...good securities attorney could pay off here...
posted
Better yet, why don't you sell it at .006 tomorrow, make a .0039 gain, and let Scottrade deal with it.
quote:Originally posted by PCola77: Wow, if that's all true about Ameritrade, I'm really happy for you guys.
I'm going to check with Scottrade tomorrow about my situation. I had sold at .0011 and bought back at .0021 for about a $4700 loss. I wonder if they'll reimburse me any of that. It's a different situation because they told me I'd be responsible for the stock if they let me sell it before they had it in their posession, but it's worth asking, since they probably shouldn't have let me "short" the stock.
Oh well, I'll get over it either way.
I do feel much better about the people that were literally facing bankruptcy, etc over all of this befoer AT said they'd cover them.
posted
Because if Scottrade "dealing with it" consists of forcing me to buy back the shares at higher than I could sell them for tomorrow I'd be completely screwed
BTW, do you think it'll drop that far?
quote:Originally posted by th0th: Better yet, why don't you sell it at .006 tomorrow, make a .0039 gain, and let Scottrade deal with it.
quote:Originally posted by PCola77: Wow, if that's all true about Ameritrade, I'm really happy for you guys.
I'm going to check with Scottrade tomorrow about my situation. I had sold at .0011 and bought back at .0021 for about a $4700 loss. I wonder if they'll reimburse me any of that. It's a different situation because they told me I'd be responsible for the stock if they let me sell it before they had it in their posession, but it's worth asking, since they probably shouldn't have let me "short" the stock.
Oh well, I'll get over it either way.
I do feel much better about the people that were literally facing bankruptcy, etc over all of this befoer AT said they'd cover them.
posted
Well, who knows, but let's just say that I won't be surprised to see .006 tomorrow.
And, yeah, if you can find out what Scottrade's stance on this whole mess and whether or not they will do the same thing that AT is doing for their customers, then you can see if you can actually come out ahead on this thing.
quote:Originally posted by PCola77: Because if Scottrade "dealing with it" consists of forcing me to buy back the shares at higher than I could sell them for tomorrow I'd be completely screwed
BTW, do you think it'll drop that far?
quote:Originally posted by th0th: Better yet, why don't you sell it at .006 tomorrow, make a .0039 gain, and let Scottrade deal with it.
quote:Originally posted by PCola77: Wow, if that's all true about Ameritrade, I'm really happy for you guys.
I'm going to check with Scottrade tomorrow about my situation. I had sold at .0011 and bought back at .0021 for about a $4700 loss. I wonder if they'll reimburse me any of that. It's a different situation because they told me I'd be responsible for the stock if they let me sell it before they had it in their posession, but it's worth asking, since they probably shouldn't have let me "short" the stock.
Oh well, I'll get over it either way.
I do feel much better about the people that were literally facing bankruptcy, etc over all of this befoer AT said they'd cover them.
posted
Be best to sell half your position and ride the rest on free shares, if you haven't done so already.
If you are already riding on free shares, hell I would hold and see what it would actually do.
quote:Originally posted by MakeMoney: Anybody have an idea what this thing will do tomorrow? Im holdin a few million shares and don't know whether to dump or ride.
posted
Yeah, if Scottrade would break my sell I'd be dancing in the streets. If they give me the $4600 back I'd be thrilled. If they tell me to f*** off, I still won't be too upset.
My luck they'll break my sell after the price is below where I bought:)
quote:Originally posted by th0th: Well, who knows, but let's just say that I won't be surprised to see .006 tomorrow.
And, yeah, if you can find out what Scottrade's stance on this whole mess and whether or not they will do the same thing that AT is doing for their customers, then you can see if you can actually come out ahead on this thing.
posted
I'm so glad to hear everything's going to work out for you guys, I don't know you but I was seriously worried, the thought that this could've had life-changing consequences, that lives could've been ruined because of this made me sick to my stomach... ($1 million margin call is just sick)
This must be one of the biggest lessons in your stock trading career, you should celebrate tonight!
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quote:Originally posted by PCola77: A few million? What'd you get in at?
I got lucky in at .0010, dumped yesterday at .008 and bought back in at .0076 this morning. If it drops Ill start losing.I was in a meeting and missed my chance to roll at .01 today!!
-------------------- He who dies with the most toys Wins!!!
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quote:Originally posted by MakeMoney: Anybody have an idea what this thing will do tomorrow? Im holdin a few million shares and don't know whether to dump or ride.
Personally I'm hoping it tanks as low as possible tomorrow. Maybe .004-.005.
MM's want cheap shares, and I want em even more...
Lets pray it sinks like the Titanic. MM's I know you're watching...PLEASE DON't GAP UPWARDS PAIV!!!!
-------------------- Now We Movin On Up!!
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quote:Originally posted by MakeMoney: Anybody have an idea what this thing will do tomorrow? Im holdin a few million shares and don't know whether to dump or ride.
Personally I'm hoping it tanks as low as possible tomorrow. Maybe .004-.005.
MM's want cheap shares, and I want em even more...
Lets pray it sinks like the Titanic. MM's I know you're watching...PLEASE DON't GAP UPWARDS PAIV!!!!
Wow Ashy you might as well start fasting and meditating too man. goddamn you want it that bad???
-------------------- Rule 1: Always Protect Your Capital Rule 2: Earn slow, Don't lose fast
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quote:Originally posted by MakeMoney: Anybody have an idea what this thing will do tomorrow? Im holdin a few million shares and don't know whether to dump or ride.
Personally I'm hoping it tanks as low as possible tomorrow. Maybe .004-.005.
MM's want cheap shares, and I want em even more...
Lets pray it sinks like the Titanic. MM's I know you're watching...PLEASE DON't GAP UPWARDS PAIV!!!!
Wow Ashy you might as well start fasting and meditating too man. goddamn you want it that bad???
Damn right I do, You MM's who watch, or is hiding behind phony aliases on this board.....
Listen up, Tank this Son-of-a-Biitch cause I want in, I'm sure you do too. I ain't gettin in unless it goes below .006. Now I've said my two cents, make me proud in the AM. Good Night
-------------------- Now We Movin On Up!!
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posted
I'm in with JPHC shares at $0.0003 with a big big jump, but did not know about the restriction when bought JPHC. Then, it went down to $0,0002 and I decide do not loose money. As far as I know, I have to wait for 1 year to sell them. Very risky, but the fact the board of directors decided to implement the stock on AMEX, something tell me that's a good deal! We should be at a cent in the short term.
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posted
after the close yesterday I called PAIV and asked them about the JPHC shares. He told me the last official shares that traded last Thursday went thru yesterday. He said that it is going to take 6-10days to issue the JPHC shares to the DTC and then the brokers and that when the brokers get them they will be restricted no ifs ands or butts. I hope some how those of you that shorted can get out of this mess but I dot't know how. If your brokers are telling you the truth I don't see how its possible. Good Luck
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