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kennypooh

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kennypooh

Re: FoggontheTyne post# 728

Thursday, 10/04/2007 3:43:12 PM

Thursday, October 04, 2007 3:43:12 PM

Post# of 4953
Fogg - The way it works here is that the company issues free traded shares (on whatever trading exchange) that can then be sold to retail customers by any "licensed" broker. All retail broker transactions are recorded through a Transfer Agent ( in this case - Olde Monmouth Stock Transfer Co) and the stock certificates are either distributed to the buyer, or held in "street name" by the broker (buyers choice). Hundreds of different brokers, foreign and domestic, may be involved in the selling of retail shares, but all shares must be recorded and distributed through Olde Monmouth Transfer. The company itself has nothing to do with the actual selling or recording of share transactions.

Shares sold by brokers outside the US are resticted (not free traded). A Broker's salespeople work on commission from the broker, not the company issuing the shares. If they mislead in order to get a sale, the local Broker regulatory agency has authority.

The Directors of Mobilestream voted last Jan to merge into GBRC and exchange all existing Mobilesteam shares for new shares of GBRC at a ratio of 1 GBRC share for every 7.143 shares of Mobilestream owned.

Mobilestream holders are still waiting for this to happen. Before an Sb2 could be filed with the SEC to register the shares for conversion, all the audited financials of GBRC, and the previous entities, had to be filed and approved by the SEC. All of that has supposedly been done now and Jeff Andrews (according to Dragon Man this am) has now stated that the Sb2 will be submitted in two weeks. http://investorshub.advfn.com/boards/read_msg.asp?message_id=23414233

Hope this is helpful. kp


When all is said and done it's what's done that counts, not what's said.

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