Ingen Technologies Inc (IGNT)

[mythical_phenix]

Courtesy of BigBake1, in a response to my question of 'what exactly does the suspension of all services with the exception of Custody Services' mean:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=103730113

The Suspension of all DTCC services is not a TRADING RESTRICTION, it is simply a denial of SETTELEMENT services at the DTCC. However, many brokers can clear their own trades in a security as they have their own clearing services. These brokers tend to close out their open positions for their customers and clear only trades that were already in the system before the suspension notice took effect. You will see some volume for a few days and then it gets pretty illiquid quite quickly.

There will be spurts of volume for a few months as some shareholders will in fact write off the worthless security stuck in their account. These "penny for the lot" transactions must be recorded to FINRA on the consolidated tape.

Take a look at any previously Global Lock security and you will find the same pattern of volume the first few days and then it bleeds right off to absolutely nothing.

These recent suspension are due to a FINRA action in which someone was issued shares by the company or shell, the company provided opinion to convert to free trading using an exemption from registration. Turns out these shells (companies) have no exemptions available due to their shell status and thus the shares sold into the market are illegal. I have forgotten how many different shells are involved at this point, but I think it is somewhere close to 20 at this point.