IMC Mortgage Co. (fka IMCC)

[oil export]

https://finance.yahoo.com/news/im-cannabis-reports-record-q1-175500880.html
Very strong quarter-on-quarter growth

[Renee]

IMCC Finra deleted symbol:

http://otce.finra.org/DLDeletions

[Sideways1]

"The Wolves of Wall Street"

One of the things that has always fascinated me about Wall Street is that it is parody of our economy. Or perhaps if our economy is white rice then Wall Street is dirty rice. The thinking behind this is the idea that if you always leave enough "lottery type dreams" around the common person then will believe that he may just have a chance some day to crawl out of the middle class and on up into the top 1%. But, we all really know or should really know that the chances of this happening is slim to none. But, it can happen and occasionally does happen and that is probably why a majority of people vote against there own self interest and true ideals and go with the 1% scammers that really are just hustlers and care about themselves and their families. Then when the make an impossible move up they do not want anybody to tap into their dough especially the riffraff.

Nevertheless, Wall Street is a horse of a darker colour. They breed the dream of riches through stocks and the particular risky ones like the penny stocks or what is known as the 10,000 stocks in the OTC Group. The real eye opener for me has been the fact that if you should be so lucky or intelligent to cull out a potential winner from all these losing stocks.. and build a nice position.. and then be extremely lucky if it moves up in price.. wait lets stop right there.. because they will not let you get to the point that the stock gains some significant value. This is because they will simply steal your stock. Thats right remove it from your "street account" with some fabricated reason and then they make it disappear and reappear right into their own accounts because they were probably not smart enough to figure it out previously. But, some fellow inside broker step up and said hey look one of your investors has a ton of xyz stock. So, you better steal it from him before it lands in his account. Why don't you give me 100k shares and you can have the rest. If it was a few rogue brokers it would be one thing but when a trillion dollar brokerage house pulls this on you that clears some 500 million a year, you can really see Wall Street for what it is... a frigging den of wolves with no shame and would probably eat each other if given half the chance.

Sideways.,

[Sideways1]

There are no coincidences in life..

Once again I seem to have been thrown a curve ball while trudging the long and winding road of stock investing. However, the good news is that I have gotten a pretty good education as of late on a lot of the legal aspects of the client/broker relationship. First, you have all the broad rules and regulation governing the industry as set forth by the higher forms of the pecking order: SEC, FINRA, etc. Next, comes the individual states statutes on their own Finance oversight sections and their own interpretation of fraud. Then you get down to the individual brokerage houses and their own contracts and application rules and procedures. Throw in a bunch of new rules on penny stock trading and what you are left with is almost a wild west atmosphere on 20,000 or so off beat stocks flying under the radar on sparsely regulated exotic or is that toxic stock exchanges. Resulting in nobody getting straight answer to anything. Viola! this is probably the very same reason nobody at Lehmans has been tarred and feathered. yet..

My whole confiscation of stock, by what I now feel is an unscrupulous broker has opened up questions that to me anyway are breaking new ground for the industry as to just what is acceptable behavior from brokers in handling discretionary and non-discretionary accounts. I now feel that there should be an industry standard or list of precise circumstances that would give a broker the right to remove or what I call basically confiscate someones stock. And, of course when they do that the big question is where did the stock go, who's got it, how does the particular depository or dtcc play into it. etc.

All, I know is that I have owned IMC for 14 years and it took me the first five to accumulate 300,000 shares through 34 trades and cost be approx. $15 grand. If Schwab or anyone thinks that there are going to waltz into my account and ride off with our stock..they have another things coming to them..well actually a lot of things are coming to them..he,he,

BRING IT ON!

Sideways

[Sideways1]

Jimmy Crickets..

They have really done it now! My broker removed 300,000 shares of IMCC from three of our accounts yesterday. It wasn't enough for them that they boxed us in for the last 6-8 years. We could not buy or sell the stock, use it as a tax write-off, redeem it for certificates, or transfer it to another brokerage house. It was in our accounts in number only. No, they had to go for the full monty. I tried to reason with them and asked them to at least give me some legal premise or law for confiscating all our stock.. but not one in their legal department had a clue. They keep mumbling things about the dtcc and stock certificates. I can only imagine that this stupid order came from on top and left the help.. well helpless.

I really wish they had not put me in this untenable position. Probably thinking something more stupid like just let the guy go and try to get it back. Now, I will probably have to file criminal charges for fraud, theft, and maybe even drag the IRS into because 100k shares were in our Roth IRA's. I also filed for investigations with about 6-7 regulatory agencies so that maybe they can talk some sense into them. But, it will probably be an good ole boy Idaho judge who doesn't like the city slickers that will get their attention.. then we will move onto the civil liability portion of the meal. Ho hum just another day in the life of Sideways.

Sideways..

[Sideways1]

Final Assessment:

One really has to be on the downside to consider the ramifications of topics like transfer agents and the grey market. But, when your hard-earned money is concerned it pays to be fully informed. I finally found what i was looking for with the transfer agent question. There no federal law that requires a company to have a stock transfer agent. However, if they do not have one an investor cannot be issued stock certificates or transfer certificates. Electronic brokering eliminated all those problems years ago.. so it appears to me to be illogical policy rhetoric to say that because a stock does not have a transfer agent it is then non-transferable (who cares i do not hold certificates) and we well remove the stock from your account.

And, then you have the "grey market" sigh. As far as I know a company can keep trading even if it is "defunct". As long as its registration is not revoked, deregistered, or they have been liquidated.. then there issued shares can be traded. They could be traded between brokerage houses or whatever. In fact, IPO's are often traded on the greys before the go public. Just how that is done, i do not know. So, I guess the bottom line is it is not over until it is over..

Sideways..

[Sideways1]

"Transfer Agents"

It is starting to look more and more like the rational of Imc not having a transfer agent as a viable reason for removing my stock from my account is not holding any water. The main reason is that it appears that transfer agents are going the way of the horse and buggy. Since, most stock transactions are done in "street name" and electronically through a brokerage house .. there is then no reason for an older stock like Imc to have a company transfer agent. In essence, the brokerage house is acting as the transfer agent. They would be recording your trading through monthly statements, providing materials, proxies, etc. In fact when I brought up that point that they are essentially the transfer agent the manager became very quiet. And, then when I asked if they could guide me to any of their legal by-laws regarding these sort of matters they responded with the idea ..gee I do not know because they are continually revising these sort of issues.
Nope, unless they could show me some legal stuff from the Sec or regulatory body, I have the feeling that they are walking on thin ice..

Sideways

[Sideways1]

"The Grey Market"

The Grey Market reminds me of the movie "The Grey" with Liam Neeson. Mainly, because
like in the movie, we all get eaten by the wolves in the end. Somebody should write a book called "The Wolves of Wall Street" to properly describe the situation in our most beloved and hated of all
economic institutions.

Overtime, I have become highly skeptical of the black sheep of OTC markets like the "pinks" and
the "grey". The main reason for this is the fact that insiders can use the lack of information on
their stocks to their advantage; which in turn becomes a disadvantage to the little guys. For
instance, say in the case of IMC where for all practical purposes its main use looks like an
eventual shell play. The strategy for the big boys that own this stock like Citi, some principals
of Goldman Sacs, and other notables would be to try and discourage anyone from buying this
stock, researching this stock, and then actually thwarting anybody who owns it from trading it.
This was the case with my broker who locked me out from buying and selling this stock in the
last six years because they claim they do not have a transfer agent for it. Which is apparently the case but some trust or bank must have stepped in to handle all the trading over the years. And, it is my understanding that other brokerage houses have been buying and selling this stock all along
and do not seem to have a problem with a transfer agent.

Then "the powers that be" have the audacity to use their very own voluntary use of the pink sheets
that require no information and may actually hide information... to have them relegated to the "grey sheets" because they do not provide any information? This slight of hand causes a situation
where virtually no one but themselves can trade and profit from any future use of the stock. What really gets me is my broker is telling me that they will simply do a notice of an "Adjust Position" to indicate a removal of my stock. It is not reported to the IRS therefore I can not use it for tax purposes and since it is non-transferable I cannot receive stock certificates. They go onto say, however, in classic broker double-speak, but, if the issuer of the security reopens it transfer books we may attempt to have your position returned to your account.

Now, if they did spin off Imc from citigroup for whatever purpose, what do you think the chances
are that they would return the stock to my account. I would hazard a guess and say slim to none.
The main reason I originally invested in Imcc was for extreme leverage like options in a lottery type atmosphere. However, if that possibility can be manipulated or thwarted by them simply saying we have no transfer agent or it is no longer traded and banished to the 'grey sheets"...well not only are
you screwed but the implication could be that they could do that to any stock regardless of price.

Lastly, I am not without resources and at at the very least I will get down to the legality of all this
along with contacting all the appropriate regulatory agencies. It appears to me that they cannot have it both ways. If this is going to be an active ongoing solvent stock then they have to honour those original stock holders..if not it looks like a simple confiscation with a stacked deck..and if you cannot trust a supposedly reputable broker then the whole wall street market is circumspect..which this decade is certainly proving to be the case..

Sideways

[Renee]

Sideways: All SEC Suspensions are for exactly ten days. Thereafter the suspended stock can only trade on the Grey Market where NO Market Maker is permitted to quote the stock, ie., no bids, no asks, and no size of order on either a purchase or sell order. Buys and sells are still permitted but no-one is allowed to know how many shares are being offered for sale or for purchase, or for whatever price is being offered for buy or sell. The Grey Market is synonymous with a blind market.

Excerpt from the Suspension:

http://www.sec.gov/litigation/suspensions/2012/34-66980.pdf

Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule.

It is likely the SEC Admin Law Judge (ALJ) will revoke the registrations of all 379 stocks as the ALJ has done to most suspended stocks. Regretably, if IMCC does get its registration revoked it would mean that you would still own the shares but those shares could never be sold.

I recently started an SEC Suspensions and Revocations board. So far I have only covered suspended and revoked stocks for all of 2010 and half of 2011. It is my intention to post all Suspensions and Revocations up to the present time. Still, there are ample postings of other suspended and revoked stocks for you to see the probable outcome for IMCC.

If you have the time please read as many posts as you can.

http://investorshub.advfn.com/SEC-Suspensions-&-Revocations-25334/

[Sideways1]

Evidently, the IMCC suspension was lifted.

They traded 200,000 shares the other day.. so I guess it is business as usual.
I have been in the stock since pre-2000 and basically saw it go off the radar.
However, I have had to fight tooth and nail to keep my broker from confiscating
my stock. They always have some excuse: bankrupt, worthless, not trading, etc.
As a matter of fact, I just got a letter today saying that since American Trust and
Transfer is no longer the agent they are going to pull the stock from my account.
I reminded them that they pulled that one on me five years ago and that the stock
is still trading, solvent, and a subsidiary of one of the to big to fail banks (Citigroup).
Therefore, it all boils down to a trust issue.. I bought the stock in good faith and trust.
Which means that notwithstanding a good reason for removing my stock such as
no longer trading, insolvent (bankrupt), merger, etc. they must honour our transaction.
And, that means for any stock even if the stock is a $100 one or a .0001 penny stock.
Having said that, I have not been able to sell my stock, buy more stock, or redeem them
for certificates in the last 5-8 years. However, as long as they my shares in my account,
I was content to deal with it as it came. I will find out Monday what they are going to do.

But, I made it plain that I was not going to go quietly into the night. I have around 16K
invested in this lottery ticket and about 12 years of blood sweat and tears. So, I am willing
to go all the way on the mat with this one..

Sideways

[Renee]

IMCC SEC Suspension:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=75547630

[pacman042]

.001 HOD 400th vol

[outnabout]

E*trade has returned IMCC to my account due to "recent activity".

[TREEPLANT]

ah... yea if it has been a few years... not likely lol

[tasha]

.0014 as u can see it has not been my best investment lol

[TREEPLANT]

what price did you buy in at?

[pacman042]

didnt buy, was just wondering. still a noob and never heard of this, so thought i would learn something. thx

[tasha]

Some nice buys today...I been holding for years and see no reason to dump it now..

[RichAndPoor]

Appreciate the update. I'm not sure broker to broker how they comply with regulations. I just know e-Trade said "we're gonna remove these securities from your account by the end of the day. we'll give you a receipt in case a transfer agent is ever registered". I didn't want to take that risk. By the team my shares become "re-tradeable", I've missed any MOMO.

[pacman042]

Called Scott. and they have transfer agent as unkown and have not recieved anything about stop trading. ??

[pacman042]

So weird, it went up yesterday though. I will call Scottrade 2day and see what they say.

[outnabout]

I'm with E*trade too, got the same notice. Didn't sell though. Keeping my receipt.

[pacman042]

thx

[RichAndPoor]

Not sure bro. Just letting you guys know of the correspondence I received from E-Trade.

[pacman042]

If that is true, then y is Mark just posting it on 15-12G plays (3/21)

[RichAndPoor]

Sorry guys, had to get out of IMCC at all costs. Got an email today from eTurd that because IMCC has been without a transfer agent for 6 years (as of yesterday), it is now considered a "Non-Transferable by the Depository Trust Company (DTC)". Etrade was going to remove the securities from my account by the end of the day.

Had to drop it like it's hot. Something is better than zero.

[ctine2020]

Someone just got some nice cheap shares. Wasn't I unfortunately.

[RichAndPoor]

Stop bid whacking idiots!

[tasha]

Been in this one for almost 2 years lol...Have not paid much attention to it until I saw my acct yesterday..Hopefully my patience will pay off here..GL

[Miker0016]

This one is soooo close! Needs pub

[ctine2020]

Gapper? 002 x .0022 :)

[ctine2020]

Clearly this isn't a chart play, but the chart does give some confirmation to what seems like growing interest here...

IMCC is coming alive.

[ctine2020]

At some point it'll get some exposure I'm sure. Just needs a spark!

[Miker0016]

You can make some good money with IMCC. Wish more people knew about it!

[ctine2020]

I have a feeling that those bidding probably won't be getting many shares if any at this point.

[ctine2020]

Couple more ask slaps and we're there I'd say.

[JBJD]

.0024 is the 52wk high and we're not far away from that.

[ctine2020]

Hope so! Keep telling myself that with this S/S this baby has to run at some point.

[RichAndPoor]

I wouldn't be surprised if we see some small loading for some folks to get in position, then liftoff sometime soon.

[ctine2020]

Most likely. A measly 235k took it up 125%. Another 125% and we're at .004ish. :)

[RichAndPoor]

I'm guessing we're pretty thin here at least up to half a cent.

[ctine2020]

Maybe the party's getting ready to start?

[RichAndPoor]

IMCC - go bigly baby! You want to so bad; just need a big volume day to blow the top off.

[PeaceMakerz]

Kool man, good luck to you. I am happy to get out where I did, I lost some money but thats the stock market for ya..LOL. Good luck bro. You'll see me around!

[Daytrader1]

Yes...some stocks I buy and hold for 4-6 months like EOSI at .000x$. BUT just like EOSI when they move its with 500-1000+% in a few days. See EOSI up from .000x$ to .03x$

AND many others. BUT yes, you also can wait for buyers hitting it on news or so....I'm in and stay in. Even if it goes to nada

[PeaceMakerz]

Well, I will keep an eye over here, but Daytrader you been here as long as I have and thats a long time to just be sitting and waiting.

[Daytrader1]

big mistake imo.
As me why in a few weeks/months

[PeaceMakerz]

I am out.. Sold my shares today.. I was charged a Worthless Security charge by Zecco for this stock for 7 months. I called today and they said that it was just made tradeable again today. Just some info I found out, might help some of you!

[hwllo]

IMCC afer .002 then .01 then it will be huge

[hwllo]

IMCC somtin huge up 200% in 10 mins cant wait tomo might be huge