OTC IPOs, Mergers & Other Material Events

[STOCKPICKER4LIFE]

I see INTL M.M. high bidder now at $2.17. That is a good sign.

[STOCKPICKER4LIFE]

Wow that is crazy. I do own stocks that are not DTC Eligible. I have bought and sold them thru TDA. You can transfer your stocks to Etrade or Even better Fidelity. TDA is going to be Schwab. I am curious to see what happens there.

[Big Brother]

I think I should have been given the option to pay the additional handling fees for being non-DTC eligible and been able to keep my shares....if I did not want to pay, then they could reverse the trades. The company had sent me all the necessary paperwork from the transfer agent, to manually re-register the shares in my name but it was too late.

Folks need to be extremely careful, to ensure that anything you trade this year is DTC eligible, if your using TDA. Part of this was my mistake for not checking with the company first, as there was no DTC information on OTC Markets. I knew better, that should have been a red flag for me but I just assumed that since they let me trade it, it likely was as TDA blocks trades on most non-DTC eligible securities.

[Hanibal]

AIXN 3.5 today with a high of 4.2
Still waiting for that EFFECT filing for the Nasdaq uplist

[Hanibal]

Years ago some brokers were charging astronomical settlement fees for non DTC tickers. I wonder if that is still the case

[Big Brother]

I called the company, they said they are non-DTC eligible, thus the settlement issue, however, I've traded non-DTC eligible securities in the past.....many brokers allow trades on non-DTC eligible securities without the trades getting 'busted'.

[Mr. Zen]

FINRA is the best option, but remember that is a lawyers club so they will circle the wagon. And I would call TD and ask for a supervisor to look into it, then call the SEC and ask for history on that company..

Bottom line ... we are the bait on the end of a line...

Not sure they can lock you out of your account but they can tell you that your account is a sell only, not permitted to buy... Fidelity did that to me.

[Big Brother]

The way I see it, it should be their responsibility to ensure trades settle in the proper amount of time. How is any investor to know their trade did not settle, there is no way of knowing that. For them to come back 5 months later and take all the money and shares does not seem right.

It wont be easy for me to move to a new broker, I have a lot of stocks to liquidate and they are all highly illiquid.... but it may come to that.

I'm not sure what kind of recourse I have here, I'll contact FINRA and file a complaint but I'm sure that will go no where....and not sure its worth getting a lawyer involved, I don't want them locking me out of my account, which I've heard they will do if you piss them off.

I think I'm SOL here.

[Mr. Zen]

I could not see a timeline definition with Busted Trades, never even heard of it before this.
You could make a stink about it and see what they do, did all the shares in that trust get busted, then it was not set up properly is my guess.

TD is in the process of moving into Charles Schwab, much better broker but as far as moving penny stocks forget it, no broker will accept them unless they did the trade themselves.

[jtomm]

Maybe it's more common than we realize. Just searched for "busted trade" on google news, and it looks like there's been a few instances and it may be more the exchange's fault than the broker:

https://www.reuters.com/business/nyse-bust-erroneous-trades-cdw-corp-shares-2023-05-18/

https://finance.yahoo.com/news/nyse-listed-stocks-briefly-halted-153301312.html

https://archive.is/7ZDje

[Big Brother]

It was supposedly a DTC settlement issue. So, I had bought and sold shares back in February '23 and they busted/reversed those trades and took the profits I made.

I ask what would have happened if I had I closed my account, in all these months since then, or did not have the funds to cover these busted trades....and they said it would have went to collections.

This is some pretty scary shit with TDA, they can come back and reverse any trade, at any time and I guess there is nothing that can be done. Maybe time to look for a new broker.

Also, this was not your typical penny stock, it was a real estate trust with $4+ billion dollars in assets.

Have you ever transferred penny stocks to a new broker before...??

[jtomm]

That is odd. I've actually asked my broker to bust a trade where it was the market maker just trying to get me off the bid or the ask. Example would be I placed an order to buy, say, 200k shares of a $.0006 stock, so a total of $120. And then for two days in a row I would get executed for like 3 shares one day and 7 shares the next, and that was the total volume for each day. That kind of thing. Just trying to ring up commissions on me to make me go away. Nobody places trades for which the total amount is less than a penny. Nobody but the market maker. And my broker has agreed and will bust those trades.

But, like you, I'd agree it's quite odd to happen long after settlement. Maybe there was some actual evidence of foul play or something, or lawsuit, etc. For example, I think I can remember trades being busted after-the-fact when SEC determined someone put out a phony press release, for example. Can't remember any specifics, but I can actually see the point of that.

But yeah, your situation is sure odd. Doesn't give one a lot of confidence, especially when there is no explanation.

[Big Brother]

Oh boy, finally got a resolution from TDA on this issue.....I both lost my shares and lost the money, which included any profits I had made on the stock this year, even months ago.... they were all reversed in something called a "BUSTED TRADE".

I had never heard of this, I heard about erroneous trades that were reversed before the 2 day settlement date.....but I did not know that in busted trades they can go back and reverse all trades with no time limit.

There is no way to protect yourself or know what trades did or did not settle, I had made some profit months ago, I assumed they settled, never thought they would not have.......wow, still in shock that they can come back and take your profits made from buying and selling any security, even trades not done in error.

[Mr. Zen]

Never had good luck with TD Ameritrade, I once received some dividend shares and held them for two years, when I went to sell they told me I needed a legal opinion on them.

Like I am going to spend $800. for a legal opinion on $200 worth of shares, I told them to return them to the company, they never did and once they amalgamate with Schwab (on going over the next two months) it will be nightmare ver2

Some people do not look at their account for years, meanwhile someone in the Cayman Islands will be saying thank you very much on some of these accounts.. scary

Once trust is gone it never returns.

[Hanibal]

Share ownership should be non fungible (as much as I hate that term and the fad NFT space). They should be unique shares tied to you only and not any X number of shares from a pool that you happen to own.

[Big Brother]

Yes, quite concerning, if I was not someone who watched my account VERY closely, I would not have known exactly how much was missing.

The missing shares were at least provable to an extent....the cash was not..... it was just gone without a trace.....but I knew to the cent how much was missing. Now I see it would be very easy to siphon money out of an account under the guise of a computer glitch if your not diligent. Tech support claimed it was highly unusual but that he had seen two 'glitches' that day and didn't know what was going on with their system.

Getting my money back was half the battle, now I need to figure out why or how they lent or borrowed shares from my account, that's not even a margin account. If they can't recover them, I think they need to compensate me. They lent or borrowed shares they did not own, so they should have to cover just like a short would.

[Mr. Zen]

That's unnerving! TDA is in the process of a transfer to Schwab however we expect and should receive a certain level of confidence in our holdings, Crips this is not crypto these are registered shares.

Some geek in an off shore hotel room thinks he's in fat city.

[Big Brother]

When they borrowed those shares, it created some kind of glitch in their system, so not only did my shares disappear, $2500+ cash disappeared as well at the same time....and did not show up anywhere in my account, the money was just gone....poof, no trace of it whatsoever. Even their first level of tech support could not find it when they looked into the account.

They eventually restored the cash after I called but could not tell me what went wrong and it had to be sent to a higher level of tech support to do it.

The shares are still gone and I'm left with a negative account balance of shares, I don't have a margin account. Also, supposedly brokers are not supposed to lend shares if you have a sell order in, which I did at the time, I had the only shares on the ASK....but they automatically cancelled that order first, then lent the shares out.

There was some volume, it ranged from .0476 - $25.00...

07/07/2023 -- 1.10--90
07/07/2023--- 1.88--80
07/07/2023--- 1.88--100
07/07/2023-- - 0.0476--224
07/07/2023-- 1.88--195
07/07/2023-- 25.00--100
07/07/2023-- 25.00--24

So basically they stole my shares out of my account and have no way to give them back, since there is nothing to buy as they were all shorted.

[STOCKPICKER4LIFE]

That is very odd. If your account is a Margin or Cash account that could make a difference. Does the stock have a DTC Chill on it? Sounds like they borrowed your shares. They must be short on the stock. I guess you could demand to transfer the stock to another account and see what they say. Has the stock had any sales go thru lately?

[Big Brother]

Odd thing happened to me today, I own about 300 shares of a very thinly traded stock, that trades around $20. There are no shares on the ASK to buy of this ticker, I just happened to pick some up on the bid several months ago. Today I noticed my shares were missing out of my brokerage account and in its place shows a -300 shares balance.

I called TDA and they danced around my question of 'Where are my shares?' and said they would call me back Monday, once they have located them.

Its pretty clear that they must have loaned my shares out to a short seller....but now I no longer have access to those shares to sell, since my shares show up as a negative balance......but what recourse do I have?? Where would they find shares to restore my account, if there is nothing on the ASK to buy??

[STOCKPICKER4LIFE]

Yeah must have been. With all of that volume that hit. No other possible reason could explain it.

The SEC and regulators were asleep at the wheel on this one.

[Hanibal]

STRG dumping I guess it was a promo of some kind

[Big Brother]

I've noticed that the regulators don't seem to care that much about unexplained Chinese OTC runners as they do other companies.

I think it's a combination of....

A) its harder to identify those that are running promotions, where the volume comes primarily from overseas

B) there is no one for them to prosecute and get an easy payday.

However, if your wealthy, in the US and you try and run a promo or do anything even remotely sketchy whatsoever, they will be all over you like flies on shit......its all about the $$$'s.

The Chinese could dominate the OTC if they wanted, they just need to being the volume......most can't do it though. One of mine VCOR, had a RM in Jan 2016 and has traded about a grand total of 4K shares total since then.......lol.

Most either can't get any volume or they just give up and disappear.

[STOCKPICKER4LIFE]

Looks like this one is set for a proposed IPO at $4.00 I owned this stock some years back when it was MCAR. You got a great buy on this one. I'll be watching it now. Thanks.

[STOCKPICKER4LIFE]

I have always liked the Chinese R/M'S. They just need to get more volume. When I first started buying penny stocks. The Chinese stocks were the first ones I made money on lol.

[Hanibal]

You're not crazy BB. They could but even these Chinese fat cats are drying up and losing interest in the OTC. Several years ago you could take your pick and now. Nothing.

There was an avalanche of Chinese small cap big board IPOs last year which were pumped to oblivion. HKD went to 2500/share. Another one, ATXG, also made a similar move but that was technically an uplist from the OTC (which is why I loaded AIXN). The SEC kind of put a stop to that and became more stringent as to who they let IPO. It's possible some of that carried over to the OTC and scared off the overseas investors. TOP is probably the most recent example of that classic overseas big board pump. It went from 6-7 to like 250 in April, and was suspended for like a month or something like that.

[RyNo_23]

Speaking of the Chinese - check out $ASKH

https://download.s21i.faiusr.com/30953094/0/0/ABUIABA9GAAg1-TJpAYo3uiQvwE.pdf?f=CIWM+PROFILE.pdf&v=1687321175

https://www.ciwm.cc/en/

In 2025, the main board of Nasdaq will be listed with a target market value
of 10 billion US dollars

Small float - https://www.otcmarkets.com/stock/ASKH/security

[Big Brother]

Call me crazy but I think the Chinese could save the OTC, if they could manage to bring in more consistent volume in their tickers, from overseas investors....as then US investors would then start flocking to their plays. The Chinese OTC plays just seem to move better, generally lower floats, less dilution, toxic convertible financing, etc. VS US companies.

Problem has always been volume, too many China ones barely ever trade....then they eventually give up and disappear.

[STOCKPICKER4LIFE]

This is having some crazy amount of volume coming in. Nice buy on this one. I wonder what is going on here? I couldn't find anything on this one.

[Hanibal]

AIXN 2.50 today. Seems like Chinese volume TBH. MM INTL is very active.

Perhaps they got a whiff of the Nasdaq uplist. Holding 11500 shares at 1.50 avg

[STOCKPICKER4LIFE]

Reasons for the Reverse Stock Split



The primary purpose for effecting the reverse stock split, should the Board of Directors choose to effect one, would be to increase the per share price of our Common Stock. The Board of Directors believes that, should the appropriate circumstances arise, affecting the reverse stock split would, among other things, help us to:



? Meet certain initial listing requirements of the New York Stock Exchange (“NYSE”) and/or NASDAQ;

? Appeal to a broader range of investors to generate greater investor interest in the Company; and

? Improve the perception of our Common Stock as an investment security.


Meet the NASDAQ or NYSE Listing Requirements - Our Common Stock is currently listed on the OTC:QB (“LWLW”). Both the NYSE and the NASDAQ require a minimum trading price per share in order to list on either exchange. The NYSE and the NASDAQ Rules and Regulations require among other things, that in order to list on their exchanges, the average closing price of a company’s common stock must be at least $3.00 or $4.00 per share over a consecutive 30 trading-day period.

[STOCKPICKER4LIFE]

Oh wow,
This was on my watchlist forever. The company approved either a 5 or 10 for 1 Reverse Split. I believe the company needs the R/S to uplist to Nasdaq.

https://www.otcmarkets.com/filing/html?id=16715654&guid=TFT-kaP_HC3Udth

The share count was increased a lot from November 2022 to now.

https://www.otcmarkets.com/filing/html?id=16715654&guid=TFT-kaP_HC3Udth

[tortlawyer]

Some volume on lwlw today

[Hanibal]

I did grab AIXN today to stash away for a potential Nasdaq uplist. 1.84 avg. 4400 shares.

Other buys

BLMS 0.08 avg. 70k shares. Came down from 1s. But. Suddenly! Dilution. Hmmm. 10 mil a year in revs. I think. Don't dilute me please

MNK 1.10 avg. Yeah yeah possible second BK. Whatever. This is lotto in case it doesn't happen. 5k shares. 200 mil opioid settlement payment due by end of week.

Hope y'all are doing well. Esp you BB I see you poking your head up from time to time like a gopher :)

[Hanibal]

StockPicker - Ty for the message. I had this on my list but made a decision to stop watching it because of the heavy liability load. I can see now that it's no longer the case. They cleaned up pretty good though I've only briefly scanned the Q.

[Hanibal]

Some interesting volume in STRG. 868k float. Got some at 3.10

[Hanibal]

Took a gamble and got MWG at 1.82 after hours on Friday. Recent IPO out of Singapore that dumped from $8s. High insider ownership. IPO was at 2.50 I believe.

Microcap IPOs have been flying lately. For example, UCAR and TOP (no position in either)

[Golden Cross]

$AVOI Change of control is week... Cheap now bet they bring something good here...
Clean, Zero Debt. Funds used to buy shell were used to pay off all the debt of the company.

8K Change of Control on 4-24
https://www.otcmarkets.com/filing/html?id=16580399&guid=tFm-ka3VoTiqJth

[Mr. Zen]

LFEV. for a new company with a 7 million float the financials do not look that bad.

https://www.otcmarkets.com/otcapi/company/financial-report/363534/content

https://lifeevgroup.com/

As the only US electric bike manufacturer I kinda think it's got a future.
Bikes are $1600 free ship.

[Hanibal]

Got the GDHG IPO today at 4.01

[Hanibal]

Looking into entering CVKD. A fresh low float bio IPO with a phase 3 ready asset. Currently $1.42

[Mr. Zen]

LPHM : If you know how to do your own research and draw your own conclusions then this one is worth looking at.

Held at DTC 28,750,317 03/01/2023

RONN Motor Group Announced the Merger and Takeover of LPHM is Nearly Completed Press Release | 03/15/2023

[Hanibal]

Oh hell yeah. Take what you can get lol

I got in on the ICG IPO today at 7.80. Short leash. I hope the doggie doesn't bite me lol

[STOCKPICKER4LIFE]

Very nice trade. Those quick trades are the best. 30-50% profit works well in this environment lol.

[Hanibal]

Got the LIPO spike I was looking for. Exited at 2.60

[Mr. Zen]

$EVCI We have completed the majority of the required documentation for the change of control” stated Wei Li, Chairman. “We would also like to report on the current year results for Zhejiang Dashang Media Co”.

Gross revenues of $61.6 million for the year to date, up 300% versus annualized 2021 revenue
1.7 million users, up approximately 100% versus 2021
401,755 daily users, up approximately 80% versus 2021
33,871 daily paying users, up approximately 80% versus 2021

[MegaDeath]

Nice, should be able to make a few bucks again. Good luck

[Hanibal]

Got in LIPO again at 1.79 FYI

[Hanibal]

Got some RNER today after hours at 5.00. SPAC merger apparently closing tomorrow. These have been flying lately so expecting fireworks

[MegaDeath]

Not too crazy about these plays either, Lloyd's background caught my interest. Just posted in case anyone has luck in these plays like Lloyd seems to have.