Thank you for your email. When you buy shares, settlement is the trade date plus 3 business days. The shares are delivered to us at settlement date, which is when they are deposited to your account. When you sell shares, it is our responsibility to take them from your account, and forward them to the buyer. In the case of Jupiter/Paivis, this is a company reorganization, and all of the conditions are set by Jupiter/Paivis, not by anyone in the brokerage community.
You commented that the company has stated it has issued shares. I believe you. The problem is the company does not issue the shares to the clients, or the brokerage houses, but to the transfer agent. It is the transfer agent that has been holding up the process of transferring shares..
We have been in contact with the transfer agent on the above securities. The transfer agent would not give a status on the issuance of the restricted certificates. This is most likely because they now need to determine the number of shares each client is entitled to on the reverse split and round up. We will continue to request updates and will let you know as soon as we have any more information.
Per the terms of the reverse split clients are entitled to a minimum of 100 shares. Our prior e-mail advised everyone that the reverse split entries have been made from PAIV to PAVC, but that any round up shares had not been received. That is still the case. Once we have the additional shares we will book the round up shares to your account. Hopefully the transfer agent will be more cooperative in getting the round up shares.
We do not post dividends or splits on foreign stocks until we receive them. This usually results in a delay of 1-3 business days. As soon as the new shares are delivered to Scottrade, they will be posted to your account.
Please let us know if you have any further questions.
Scottrade has been named Highest in Investor Satisfaction With Online Trading Services Six Times in a Row by J.D. Power and Associates. For award information, visit www.jdpower.com <http://www.jdpower.com/>. -----Original Message----- From: patrick.yates*us.army.mil [mailto:patrick.yates*us.army.mil] Sent: Thursday, September 07, 2006 9:17 AM To: Scottrade Customer Support Subject: Trading
Ok I am emailing again about my PAVC shares, my account switched from PAIV to PAVC but only have the 9 shares from the reverse split, not the 100 shares per reverse split deal. How come when i buy shares you can just put them in my account, when i sell shares you get rid of them almost immediately but when I am due shares it takes forever to give me what I am due and according to the company the shares were already sent out. I have watched this share drop from $7 to almost the pre-reverse split price... oddly enough, other brokers already sent their clients their share.. WHEN WILL I SEE MY SHARES?? All email sent to and from this address will be received or otherwise recorded by the Scottrade corporate email system and is subject to archival, monitoring or review by, and/or disclosure to, someone other than the recipient. Email transmissions may not be secure. You may contact us by telephone if you have concerns about security.
yeah nice to watch it turn out to be cheaper then it was before i even owned it as PAIV.... so easy to pass the buck to the transfer agent. I wish I wasnt in Iraq so i could call them and ask what the deal is...
Posts: 317 | From: Iraq | Registered: May 2006
| IP: Logged |
posted
This whole thing has been a massive clusterf*** the entire time. I'm thankful that I came out okay, but I can imagine tha a lot of others weren't as fortunate, and like you said, everyone will just blame someone else, and the little guy gets screwed.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
| IP: Logged |
quote:Originally posted by PCola77: This whole thing has been a massive clusterf*** the entire time. I'm thankful that I came out okay, but I can imagine tha a lot of others weren't as fortunate, and like you said, everyone will just blame someone else, and the little guy gets screwed.
yah no sh**, we're under a dollar now, down 92% since the R/S
Posts: 1091 | From: Brugge, Belgium / Dallas TX USA | Registered: May 2006
| IP: Logged |
posted
Here's the response I got to my most recent inquiry:
quote: The additional shares for the round up were requested from the transfer agent on 8/17/2006; however at this time we have not received those shares from the transfer agent. Once they are received we will post the accordingly.
Debra A. Apex Reorganization and Safekeeping, TD AMERITRADE Division of TD AMERITRADE, Inc.
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
| IP: Logged |
posted
I had a situation with my broker ,canadian broker BMO in canada. I sold my 100 shares ,but they werentin the account , I only had 50 shares after the reverse split and then just recently they bought 50 shares without asking me to cover , so i called and complaind and the credited the 50 shares at the price they bought them
Posts: 152 | Registered: Sep 2006
| IP: Logged |
posted
Well, at least they replied back very quickly......
My email:
quote: Why is it taking so long? Does the Transfer Agent give you a reason for this delay? Who is the Transfer Agent? It has been nearly a month. This is unacceptable
Their response:
quote: We have not been provided with a reason as to why it is taking so long to receive the shares. I am attempting to locate the transfer agent whom we are working with to complete this transaction. Once I receive that information I will notify you via email.
Debra A. Apex Reorganization and Safekeeping, TD AMERITRADE Division of TD AMERITRADE, Inc.
Jo
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
| IP: Logged |
posted
Last week I got a letter from Fidelity about my Jupiter shares. Today I called to "give them permission" to release my information to the transfer agent. Sounds like I will be getting my shares soon!
Posts: 942 | From: Wisconsin | Registered: Jan 2006
| IP: Logged |
posted
so still nothing for me from Scottrade.. they keep telling me about Jupiter shares and i tell these F-ers i never had shares while they were Jupiter, I had PAIV shares and where the HEll are my shares its been long enough to where i need some numbers. I watched any type of money go into the red from the day it R/S to the present still worth less than what i had left in it, I am still waiting so I can dump this dang thing but at 9 shares i am not anywhere worth the sell. Any suggestions?
Posts: 317 | From: Iraq | Registered: May 2006
| IP: Logged |
posted
What do i need to have in regards to ducks? I just shot them an email asking what is taking them so long and why do they keep passing the buck off on the transfer agent. I told them that i would like an email from their transfer agent to show me their reasoning for the hold up of issuing the promised shares.
Posts: 317 | From: Iraq | Registered: May 2006
| IP: Logged |
posted
i have been pissed off at this too, friggin B/S i got may geek play shares and sold with choice trade , but i hold restricted through first trade , i called them monday and they gave me the same run around , about waiting on the T/Ass , so i called I/R fer jupiter , and she said that , the T/A is having to do them by hand , and should take no longer than 2 week , i have heard that friiggin 2 weeks B/S everytime i talk to sombody about this
-------------------- PREPARE TO BE BOARDED Posts: 742 | From: SOUTH CARRIBEAN | Registered: Mar 2006
| IP: Logged |
posted
now might be the best and only time to get out for anyone still holding from the old days. for anyone crazy enough to buy in at a buck as of late, congrats on having big balls.
-------------------- Cashing checks in two forms: Money and Reality
GLTA, The Phat Man Posts: 1236 | Registered: Apr 2006
| IP: Logged |
posted
Moving nicely. I wish Etrade would get me my 99 additional shares. But I'll be patient. Maybe by the time I get them they'll be worth a lot more.....lol
-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse. Posts: 1543 | From: Ogilvie, MN, US | Registered: Apr 2004
| IP: Logged |
posted
I know this is an old, tired topic, but has anyone from ETrade who held JPHC shared recieved the restricted PAVC shares? I keep emailing ETrade and I always get the same response...
"Thank you for your message regarding the JPHC and PAVC corporate merger. I apologize for any confusion that you have experienced due to this situation. Unfortunately the new shares of Paivis have not yet been delivered by the company and we cannot deposit them to your account until they have been. The dates we have given you in the past have been the dates that we have been given, once the date comes the shares don't and we're either given a new date, or told that they are still processing the request. Because of this we can't give you a date, the company doesn't seem to want to deliver the certificates or is experiencing some trouble in doing so. Either way we will still be making contacts in an attempt to coerce the company to deliver the shares, and I can assure you that as soon as they do we will deposit them to your account immediately."
Should I believe them? Who is to blame for the hold up??
Posts: 7 | From: ca | Registered: Feb 2006
| IP: Logged |
posted
i havent received anything yet either. im in Scottrade. Although, they did apparently send my shares to the TA....They arent in my account anymore and havent been for like a month now I think. I will probably call the TA at some point to see if they have them. I believe the # is listed somewhre in these posts.
Posts: 379 | From: Peoria, AZ. | Registered: Apr 2006
| IP: Logged |
posted
Nothing in the 10K said anything about the "round up" shares being restricted, right? (I'm not talking about former JPHC shares, but PAIV shares turned PAVC)
If anyone wants to call the transfer agent for PAVC it is 303-783-9055 Executive Registry. Maybe if enough of us call about our rounded-up shares, they'll put it on the front burner.
The lady who answered when I called gave the song and dance that there is just "so much paperwork".
JO
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
| IP: Logged |
HAS A GAMEPLAN. The silence IMO is for a reason, I recommend every PAVC Shareholder file a SEC Complaint. See below for particulars.
For those who have not filed a SEC Complaint I would highly recommmend you do so and call the SEC to follow up on your complaints. Remember this is our investment. IMO the SEC is well aware of the situation with PAVC and all it encompasses. PAVC is in a unique situation in that the open market was flooded with Illegal Restricted Shares on May 22, 2006 by the brokerages. Below are the historical quotes for JPHC and PAVC. It is also my opinion that the complaints we are filing with the SEC have made a difference. I know a lot of individuals who have filed complaints with the SEC against the brokerage firms involved. This investigation will take time IMO it is a very slow process but I am happy and confident with my investment. We have a lot to gain IMO. These brokerages have hurt the Company PAVC on implementing its game plan and time frame. I hope this info helps some of you.
Below is some info you can use if you file a SEC Complaint.
Paiv now PAVC Here is the PAIV Press release for June 29, 2006 http://biz.yahoo.com/iw/060629/0140620.html . stating the procedure for the Brokers and shareholders to follow.
Paivis, Corp. Provides Information Regarding the Exchange and Delivery of Shares as per the Recently Completed Merger With Jupiter Global Holdings, Corp.via COMTEXJune 29, 2006
ATLANTA, GA, Jun 29, 2006 (MARKET WIRE via COMTEX News Network) -- Paivis, Corp. ("PAIVIS" or the "Company") (OTCBB: PAIV) provides additional information regarding the procedures that Jupiter Shareholders should follow in order to efficiently exchange their Jupiter common shares (the "Jupiter Shares") for their new PAIVIS shares ("Merger Shares") under the terms of the recently completed Merger Agreement with Jupiter Global Holdings, Corp. Specific details regarding the Merger Agreement and the Merger Shares can be found in the Company's Form 8-K filings made on April 25, 2006 and May 17, 2006 with the U.S. Securities and Exchange Commission.
The Merger Shares to be received by the Jupiter Shareholders are "restricted securities" as defined by Rule 144 promulgated under the Securities Act of 1933. The Merger Agreement provides that the Merger Shares will not be registered under the Securities Act, or the securities laws of any state, and absent an exemption from registration contained in such laws, cannot be transferred, hypothecated, sold or otherwise disposed of until; (i) a registration statement with respect to such securities is declared effective under the Securities Act, or (ii) PAIVIS receives an opinion of counsel for PAIVIS that an exemption from the registration requirements of the Securities Act is available.
Due to the effectiveness of the Merger, the former Jupiter Shareholders have now been registered on the transfer books of the Company but certificates representing the Merger Shares can only be issued in accordance with the Merger Agreement, particularly the Exchange of Certificates Section 1.09 (i), whereby the Jupiter Shareholders must surrender their Jupiter common share certificate(s) to the transfer agent of PAIVIS, in order to receive their Merger Shares certificate. PAIVIS provides its new shareholders from Jupiter Global Holdings, Corp. the following instructions to complete the receipt of their Merger Shares:
A.
If you owned shares in Jupiter as of May 23, 2006 that were held in certificate form, please forward your Jupiter common stock certificate(s) to PAIVIS' Transfer Agent to be exchanged for your Merger Shares. PAIVIS recommends that you retain a copy of your certificate(s) before mailing the original to the PAIVIS Transfer Agent ("Executive Transfer"). You do not need to endorse the certificate for transfer or include any stock power transferring the certificate.
B. If you owned shares in Jupiter as of May 23, 2006 that were held in a brokerage account, your broker is your key contact that can help you receive your Merger Shares. All Jupiter shares that were held in a brokerage account are beneficially held for you and are considered "street name" shares and therefore you are the beneficial owner of those street name shares. These street name shares for Jupiter shareholders are represented on the stock books of Jupiter by CEDE and Company (CEDE and Company is the nominee name for Depository Trust Company). Therefore your broker through its relationship with CEDE and Company holds your Jupiter shares for you beneficially. Executive Transfer is currently working with CEDE and Company, and indirectly with your broker, to process the issuance of your Merger Shares and the cancellation of your Jupiter Shares. You must contact your broker to have them help you in surrendering your Jupiter Shares so you can receive your certificate representing your Merger Shares. The most practical way of accomplishing this is for Jupiter shareholders that have their Jupiter Shares in a brokerage account, to have your broker surrender your shares to Executive Transfer for you. Specifically, ask your broker to surrender on your behalf to Executive Transfer your Jupiter shares that they and CEDE and Company beneficially hold for you. Since you must surrender your Jupiter Shares as per the Merger Agreement, and your broker holds your street name shares for you, your broker must assist you in the exchange and surrender of your Jupiter Shares to Executive Transfer. If your broker has questions, have them contact Executive Transfer at the phone number given below for specific details on the exchange process by brokers.
C. Lastly, because of the terms of the Merger Agreement, specifically section 1.09 (i), it is imperative that you undertake the exchange of your Jupiter Shares as soon as possible, as you will not be able to effect any transactions in your PAIVIS shares, such as receiving dividends if declared, until the exchange of your shares is properly completed.
D. The transfer agent for Paivis is Executive Registrar & Transfer, Inc. 3615 South Huron Street, Suite 104 Englewood, CO 80110 Jack Donnelly Ph. 303-783-9055 ("Executive Transfer").
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS The Private Securities Litigation Reform Act of 1995 (the "PSLRA") provides a "safe harbor" for forward-looking statements so long as those statements are identified as forward looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in such statements. Statements contained herein that are not based on historical fact, as well as other statements including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "will," "could" and other similar expressions, constitute forward-looking statements under the PSLRA.
PAIVIS intends that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements are based on current assumptions but involve known and unknown risks and uncertainties that may cause PAIVIS actual results, performance or achievements to differ materially from current expectations. These risks include economic, competitive, governmental, technological and other factors discussed in PAIVIS annual, quarterly and other periodic public filings on record with the Securities and Exchange Commission which can be viewed free of charge on its website at http://www.sec.gov. For more PAIVIS information please contact: Paivis Shareholder Services Phone: 800-963-6471 SOURCE: Paivis, Corp. Copyright 2006 Market Wire, All rights reserved.
Revenue for the nine months ended June 30, 2006 was $4,557,193, a increase of $4,135,008, or 980%, from $422,185 for the nine months ended June 30, 2005. The increase in revenue was as a result of the acquisition of Macro Communications (“Macro”) in September, 2005.
Cost of revenue for the nine months ended June 30, 2006 was $4,182,713, a increase of $3,199,653, or 325%, from $983,060 for the nine months ended June 30, 2005. The increase in cost of sales was also as a result of the acquisition of Macro. The gross profit percentage for the nine months ended June 30, 2006 was 8.2% compared to (133%) for the nine months ended June 30, 2005. Telecom related sales accounted for the Company’s entire revenue in the current period.
Debt retirement expense for the nine months ended June 30, 2006 was $1,033,603, a increase from $0 from the nine months ended June 30, 2005, as the Company offered inducements to certain debtholders to convert their obligations to shares. Wages and Benefits costs decreased by $2,841,359 due to changes in corporate and compensation structure and staffing. Office, Rent & Sundry expenses increased by $189,038 for the period ended June 30, 2006, and Depreciation expense increased by $123,653, both as a result of the acquisition of Macro. Foreign exchange losses increased by $140,223 in the current period compared to the prior period.
posted
I think the broker (Scottrade) will not release your shares when PAVC is running to the moon (up to $15, I think) . They wait until PAVC go down to $1.05 then they can release your shares.
I got same problem with Scottsuck when QBIT run from $.0011 to $.0145 in 2 days. They hold my shares without season, they did not let me sell. When they released my QBIT shares, it went down to $.0015. They made a short sell for profit and buy back when stock go down then release the shares to me. I should made $ 10,000 but I did not. I am thinking about suing them. I got all records.
Posts: 156 | From: Rochester | Registered: Sep 2006
| IP: Logged |
posted
thats what my LT just said too, he thinks that Scottrade is milking my shares for their worth and holding out and pushing the blame on the TA. This is the response I received from them the other day in regards to me asking them.
Dear Investor, Thank you for your email. Scottrade still has not received additional information regarding how soon the issue with the PAIV shares will be resolved. You will have to mail or deliver a formal request in writing to your local branch staff if you would like Scottrade to provide you a response in writing.
From: patrick.yates*xxx.xxx Sent: Wednesday, September 27, 2006 11:36 PM To: Scottrade Customer Support Subject: Trading
Status of the shares?? I am writing again trying to find out the status of my roundup shares for the R/S for the PAIV shares. Who is the transfer agent and why is there such a hold up with issuing the shares? I mean the transfer agent has to have a reasonable answer to this. Can I get a follow up and something in writing directly from the transfer agent showing that they are the reason for this hold up?
Posts: 317 | From: Iraq | Registered: May 2006
| IP: Logged |
posted
ArmySgt and others, I'm repeating part of my last post here:
If anyone wants to call the transfer agent for PAVC it is 303-783-9055 Executive Registry. Maybe if enough of us call about our rounded-up shares, they'll put it on the front burner.
The lady who answered when I called gave the song and dance that there is just "so much paperwork". She took my phone number and said someone would call me with more info, but alas, no call as of Friday.
Jo
-------------------- "Great Day for Up!"....Dr. Seuss Posts: 3387 | Registered: Mar 2006
| IP: Logged |