posted
PCOla77, I got back in this afternoon after selling my SSSU for 0.022 (bought 500K at 0.009) Will ride this one now....
Posts: 1134 | Registered: Apr 2003
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posted
Some CUSIP changes have not been halted (ex., CSJJ -> COHG just yesterday), others have (ex., PAIV -> PAVC). I'm not sure if there is rhyme or reason.
However, if you suffer under AMTD as I do, you probably want to sell before the change regardless of a halt because there's no telling how long they'll take to get your account straight. In the meantime, you'll want to change brokers as I am.
-------------------- Me Trade Pretty One Day. Posts: 815 | From: NYC | Registered: May 2006
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posted
may I suggest choicetrade, never had an issue with them...$5/trade...
this isn't a simple cusip change, they are calling all of the certs. So, in order to collect all of the certs, there will have to be a halt, and then a period of cert collection by the DTC? correct? who knows how long that could take? weeks? months? Then, after the certs are collected, then cusip/symbol change?
I am not sure, but that would be good to find out. Maybe one of the mods or old schoolers can help here.
keep in mind, I think this is the biggest POS on the earth (besides my old buick that I had at 16) but I may play this game for a quick buck...interesting nonetheless...
Posts: 2741 | From: Seattle | Registered: Feb 2005
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quote:Originally posted by skip: may I suggest choicetrade, never had an issue with them...$5/trade...
this isn't a simple cusip change, they are calling all of the certs. So, in order to collect all of the certs, there will have to be a halt, and then a period of cert collection by the DTC? correct? who knows how long that could take? weeks? months? Then, after the certs are collected, then cusip/symbol change?
I am not sure, but that would be good to find out. Maybe one of the mods or old schoolers can help here.
keep in mind, I think this is the biggest POS on the earth (besides my old buick that I had at 16) but I may play this game for a quick buck...interesting nonetheless...
i've never had a problem , until that last qbit run from 002 to 01 , they cancelled my GTC sell order ,if i had not have been watching ,i would have missed out , then woke up this morning to find my account cut in half and 2 positions missing including this awyb, they got it fixed before open beel , but did piss me right off
-------------------- PREPARE TO BE BOARDED Posts: 742 | From: SOUTH CARRIBEAN | Registered: Mar 2006
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posted
This things seem to take time to happen. If there calling all certs how long do you really think it would take? my guess is a couple of days/weeks.
-------------------- This is the start of something big Posts: 242 | From: Michigan | Registered: Apr 2006
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posted
beattheodds. Yeah, it most certainly will take time. the thing here is to compete with the shorts to buy some of the shares that holders are selling, and hopefully sell what you get to the shorts at a higher price. It's good that it will take time to do the recall because really you probably don't want to hold through it.
quote:Originally posted by beatheodds: This things seem to take time to happen. If there calling all certs how long do you really think it would take? my guess is a couple of days/weeks.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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I don't see how the cusip symbol would be able to change in a matter of days. I was wondering if any of you have ever seen a situation where the certs were not covered by the change and what happened? GLTA
Posts: 87 | From: Louisville, KY | Registered: Oct 2005
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PCola, maybe technically PAIV was never halted, but the change was months ago and I believe some people are still waiting for their PAVC shares. Meanwhile, the stock has lost most of its value.
-------------------- Me Trade Pretty One Day. Posts: 815 | From: NYC | Registered: May 2006
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posted
Oh, and he said the cert exchange is "We are hopeful that everything will be in place for the mandatory cert exchange by the end of the business day on Tuesday, October 17, 2006."
3 days to cover, shorts.
YIKES
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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BOCA RATON, FL, Oct 13, 2006 (MARKET WIRE via COMTEX) -- American Way Business Development Corporation (PINKSHEETS: AWYB) ("AWYB" or the "Company") on Monday, October 11, 2006, announced that there appeared to be major differences in the numbers reflected on the NOBO list versus the actual numbers from the transfer agent. As we noted in our press release of yesterday, October 12, 2006, given the discrepancies, we felt we had no choice but to do a mandatory cert recall.
Mr. Platten, President, also noted that a lot of shareholders were asking for a specific number of shorts. We have been very reluctant to provide a number since we cannot be absolutely certain. There have been a lot of rumors in the past few days and the Company feels compelled to quell the rumors by providing its best estimate to date. In the words of Mr. Platten, "In my view, looking at everything I see, I think the shorts are in the neighborhood of 21 million shares. However," Mr. Platten adds, "whether my estimate is correct or not, the rubber will soon meet the road. We are hopeful that everything will be in place for the mandatory cert exchange by the end of the business day on Tuesday, October 17, 2006."
The Company believes that once the mandatory cert exchange is finalized it will resolve the shorts problem once and for all. We encourage our shareholder base to watch for updates as they occur.
This contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Forward-looking statements may be identified through the use of words such as "expects," "will," "estimates," "believes," or statements indicating certain acts (such as "may," "could," "should," or "might occur"). Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized.
SOURCE: American-Way Business Development Corp.
-------------------- Me Trade Pretty One Day. Posts: 815 | From: NYC | Registered: May 2006
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posted
For those who don't know, the float on this is somewhere between 2.8 and 4.8 milliom shares, so a short of anywhere near 21 million shares is huge--75-85% have to be bought back.
-------------------- Me Trade Pretty One Day. Posts: 815 | From: NYC | Registered: May 2006
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posted
My only concern is why Don didn't release the NOBO report showing the actual numbers ADP came up with? That probably would've been MUCH better than Don 'thinking' there is 21 mil short...imo
A nice rally would be nice before the weekend but it's not looking so good right now....Shorts have to cover sooner or later but the question still remains, when?? My guess would be either Monday or Tuesday, at least I hope...Geez, let's go already AWYB!
Posts: 3026 | From: Chicago | Registered: Oct 2005
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The PR is poorly worded on that point--it suggests that the cert exchange is EOD Tuesday, but it can be read to mean they hope to have the mechanism in place EOD Tuesday for a later cert exchange.
-------------------- Me Trade Pretty One Day. Posts: 815 | From: NYC | Registered: May 2006
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