The Real DTCC Discussion

[BigBake1]

CBAI is a misconception on many things, first there exists no Notices on the DTCC regarding restrictions of trading for CBAI. You can search past name and CUSIP and turn up nothing. Now, that does not mean a chill did not occur, it is not the same as what we are used to seeing, CNS exit and T4T. In fact they applied for a name change recently and the reorganization went through May through June of 2011.

So there are many ways to skin this cat, there is the search feature by using the company name, ticker or CUSIP. None of those turn up anything so luckily we have a PR that makes the claim public to see where exactly this “chill” was imposed.

http://ih.advfn.com/p.php?pid=nmona&article=50070716

So this states that the DTCC announced a Chill on December 2010, so there should be a Notice that is filed with all of the notices in 2010. You can select Important Notices, and then go to the year 2010 and look through the notices manually.

http://www.dtcc.com/legal/imp_notices/nscc/2010.php

Sorry but no Notices are filed “Announcing” a chill being placed on CBAI, in fact nothing more than routine traffic of messages to participants informing of changes and holiday routine.

So I went to the 2010 10 K filed by CBAI to see if I could find a specific action, here is what they claim:

the Company was obligated to deliver common shares which could be placed into the Automated System for Deposits and Withdrawals of Securities (known as “DWAC”). At present the DWAC system is not available to Company shareholders for newly issued shares of the Company’s common stock.

So is this a service that will impact trading or cause restrictions for shareholders? Nope, this is simply a “chilled” service for those issued new shares for debt conversion. It impacts only those entities that want everything electronically through the DTCC system. Which is understandable since it is an efficient means of transferring the shares into the accounts. The TA can easily transfer the shares from the company account straight to corresponding customer brokerage account and it is done in seconds.

So as you can see, it is not a chill in the sense of what we have come used to over this last year, it is not an exit from CNS and designated T4T. It is in fact a chilled service that the DTCC was not offering CBAI which had no impact on trading. Why did they make such a ridiculous PR over it????? Simply to sell more shares.