quote:Originally posted by cowlowski: I called scottrade today and was told they still do not have a date the shares will convert? wtf...I guess I can be patient since it will be a year before I can sell. Has anyone with a different broker had their shares show up in the account?
Well, as far as Scottrade goes, my VXBX shares still show no ticker(VXBX), and no price. I got them some time ago... but being restricted shares..the same thing will likely happen with PAIV..
-------------------- "Remember... no matter where you go, there you are." - Mad Max Beyond Thunderdome Posts: 261 | From: BFE | Registered: Jan 2005
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posted
I spoke to E trade today. They still do not have the converted shares. The told me however, when they come in and are processed, My symbol will not be displayed until the restrictionis lifted. But the # of shares will change to the adjusted amount of 1 for .46323. they also told me that they will mail certs to me if I request them.
Posts: 157 | From: florida | Registered: May 2006
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posted
I spoke with PAIV about a week ago and they said the restriction on the conversion will last 1 year(no sells during the year), and then partially restricted for another year(only partial sells allowed). Didnt know if yall already knew that. I held 218K shares of jphc before the merger. Does anyone know when the shares are going to be issued? The lady at PAIV said "the trades currently occuring are going to have to be reversed??? because the company hasnt issued the shares yet." Anyone know what this means?
Posts: 97 | From: North Carolina, USA | Registered: May 2006
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posted
I actually called PAIV yesterday to see if there was any news.
I'll paraphrase to the best of my recollection.
Me: "I was just calling to see if there has been any update on the situation with Ameritrade selling restricted shares."
Him: "As a company we just have to let it play out. At this point it's between Ameritrade and their clients."
Me: "So basically because of an error by Ameritrade your company is now worth approximately 50% of what it was worth befroe the mistake, and you can't really do anythign about it?"
Him: "Well the SEC is aware of the situation, and I can't get into any more detail without risking getting into trouble for market manipulation."
Me: "Okaym well can you give me some more detail on the restriction period, whether it's one year from when I bought JPHC or 1 year from the conversion which was I think May 18th, or some other date?"
Him: "The restriction is 1 year from the issuance of the restricted shares by the Tranfer Agent."
Me: "Has that happened yet?"
Him: "I'm not 100% sure. I know the instructions were sent from the TA to the brokers, but I'm not sure if any shares were sent yet."
Not sure if this helps anyone in any way, but I just wanted to put it out there.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
Thanks PCola. Basically sounds like they are as confused as we are. Is PCola short for Pensacola?
Posts: 97 | From: North Carolina, USA | Registered: May 2006
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posted
Nope, first initial, Last name. I get that all the time. I'm in PA, slightly different than Florida, and probably not in a good way Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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quote:Originally posted by PCola77: Nope, first initial, Last name. I get that all the time. I'm in PA, slightly different than Florida, and probably not in a good way
Hey, your get asked that a lot. Maybe you need a vacation? Bet you might like the beach in Pensacola FL, affectionately know as 'Pcola.' I used to live there some time ago.
Has anyone any e-mails or phone calls with a name from Ameritrade as to what the outcome of this mess going on with the restricted Paivis shares they put on the open market.I would like to speak to someone there at Ameritrade that knows what is going on. Any help is appreciated.
Posts: 88 | From: USA | Registered: Apr 2006
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Has anyone had any luck in finding out what Ameritrade is doing about correcting the mess they got us in with the restricted Paivis shares. I am tired of messages never being answered. Thanks
Posts: 88 | From: USA | Registered: Apr 2006
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"The restriction is 1 year from the issuance of the restricted shares by the Tranfer Agent."
Well then they will be restricted more than a year. It's been almost a month now since the merger. That means they can stretch this thing out even further. That doesn't sound fare to me.
-------------------- corn oil comes from corn, olive oil from olives, where does baby oil come from? Posts: 441 | From: Vulcan | Registered: Feb 2006
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posted
I spoke to E Trade about this and I was told they were to be restricted from one year from the date which JPHC ticker was frozen. However then I will have to file some paperwork (for $150) before I will be allowed to sell. they said that usually takes 45-60 days. P S Good morning and stay green
Posts: 157 | From: florida | Registered: May 2006
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This is what I found out so far trying to finding out what is going on with Paivis Shares, can anyone confirm this. Has anyone seen a difference in their Ameritrade Account.
There are no restricted shares currently being traded. TD AMERITRADE either bought back shares traded on the open market, or required clients to buy back shares that were not authorized to be trading.
posted
I got copied with a letter from Ameritrade to the SEC after I filed a complaint. It basically said that Ameritrade had fixed the problem and that the original shares were put back into my account. They had reversed the trades. I filed it away for future reference if I need it but I feel confident that this is resolved. for now......
Posts: 44 | From: Jupiter | Registered: May 2006
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posted
I forgot all about this until I was looking at my list of stocks. I had even forgotten what JPHC had changed to. Shows you what its worth. NOTHING. And wqon't be anytime soon. They played us like a fiddle and we all lose.
Posts: 2132 | Registered: Sep 2004
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posted
Do we really have to do all the work mentioned in the June 29th PR or will Scottrade do it automatically for me?
Posts: 1295 | From: New Jersey | Registered: Dec 2004
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