InvestorsHub Logo
Followers 221
Posts 28613
Boards Moderated 0
Alias Born 03/18/2009

Re: Section10 post# 198311

Tuesday, 01/27/2015 6:56:50 PM

Tuesday, January 27, 2015 6:56:50 PM

Post# of 372573
That is somewhat how it works. First off, if you are not vested to justify the cost of traveling to Springdale, AR, or where ever this company is located, its cost prohibitive.

Funny this was brought up today. SEC looking for industry professionals to comment on proposed rule changes.

http://www.sec.gov/news/pressrelease/2015-15.html#.VMgXkWjF8Ro

I note the issuer voluntarily publishing documents on edgar, but they decided not to inform the shareholders by filing a PRE14C. They should be sending out a letter to all shareholders via mail on the shareholder list.

What you suggest is almost right, the issuer should contact the Depository Trust Company and request a "security positions listing". It shows all the clearing firms that hold in street name as beneficial ownership for these customers.

DTCC provides the issuer phone numbers to the reorg. dept. of each clearing firm. Eric should be calling each clearing firm for what is called a "proxy count".

For instance, in your case, if Schwab has 42 customers that own this stock, the person in Reorg at Scwab will tell Eric, "we have 42 customers, send us 45 proxy packets".

Eric will then have to mail the packets to each clearing firm so they can distribute it to their clients.

I have done this on behalf of clients scores of times over the decades.

Clearly, HHSE does not want to do this. Probably because they are lazy and broke. And again, if they scam over here, they will scam over there.

Why do you think they want to hold the meeting in the Ozarks.

My guess, its not worth it to you to fight them in their deficiencies.

Question is, why invest in a company that cannot get anything right?