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I encourage ALL ST investors to call your local branches as well as TD Ameritrade, as did I this morning. I learned that the FRIP program is to be eliminated and replaced by a much less flexible dividend reinvestment program.
Let's fight this together, I hope people actually visit this board and see this message. I will be leaving ST/TD Ameritrade if this program is eliminated.
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So, there has been a great deal of complaints regarding Scottrade's no buy orders on a multitude of penny stocks, while I have not found the same frequent occurrence that happens with any other platform. I called to ask if they understood that by only allowing selling pressure to be exerted on the stock, it is resulting in a biased trading practice that perpetuates the NSCC illiquid costs. They simply do not care, and only offered 3 free trades. I, personally will be sending reports to the SEC and FINRA, and they can evaluate the reaction of stock price after Scottrade's imposition of no buy, sell only orders for Penny Stocks. I then even offered Scottrade a few different ideas to help keep business:
1. Create a penny stock/ otc market account specifically, with a higher flat trade fee (similar to etrade), so they can spread the costs among customers that want to trade in these higher risk markets.
2. Offer to pass the expense on to the customer to allow a forced buy in, depending on what the customer wants.
3. They need to place a hold on stocks that have no buy orders, instead of allowing it's customers to sell the price of a stock farther down, without allowing any opposing force within Scottrade's customer base.
Their response to this:
We reserve the right to delist any stock, and all other trading platforms do this (except no other platform has had these issues lately). They also explain this is covered in the member's agreement, so nobody has any way around it. We can offer up to 10 free trades, but they don't work for penny stocks.
They also refuse to allow members to speak with their trading department. Members are only allowed to contact the customer support people that end up being quite rude.
For all those that want to trade Penny Stocks more freely than offered by Scottrade at the moment - I would suggest opening a different account. I have already had quite a few people that are rolling entire accounts out of Scottrade, just because of their inflexible and biased trading practice.
The first censure by the SEC and ordered consultant investigation, to me, is merely a precursor of things to come. I believe, based on Scottrade's neglect of protection of their customers accounts, failure of prompt and accurate reporting, and now biased trading practices running rampant, that Scottrade is set up more a multitude of law suits forthcoming. I no longer have any faith in this company, and advise a word of caution to all those that are interested consumers. If you want a company that is going to cater to it's customers trading requests and evaluate company policy to do so, then this is NOT the place for you. I wish you all good luck, and happy hunting. Above all, be careful.
That means they did not keep accurate records, and it resulted in trades on peoples' accounts that they did not make, and Scottrade's failure to catch this. Their policies and procedures were not adequate enough to protect it's customers and report trading information properly. So now they have to have somebody go through all their information again. So, you may find in the next 6 months that Scottrade is going to have policy changes, or (worst case scenario) their status with the SEC comes into question.
My gripe was that the front page (Scottrade) says seven dollars for trades. Sounded good to me. So I sign up, send funds, and then discover that there is an additional fee involved.
I hate that kind of underhanded crap. I'll never knowingly use any outfit that is not upfront with me.
Scottrade...I'am still hear.I still would like info on.Whey was (HESG) restrictions lifted with no new's? How many company have you and Nite destroyed with your restriction games? Were is that Scottrade updated restriction list you use to post?
What is Scottrade and Nite & HDSN up to.When it comes to (HESG)? Vol the last week for (HESG) has been ok!With Nite & HDSN sitting on the bid and ask.3/26 other 6-(MM) want to move (hesg) pps from 0001-0002 To 0002-0003.Thats when the (MM) fight begain.Nite & HDSN wants pps 0001-0002.The other 6-(MM) want pps @0002-0003.Why? Was Nite and HDSN selling cheaper shares to Scottrade?Why ds'nt Nite and HDSN want pps to move up? Does Nite have a share problem? (MM) now are fighting over (HESG) pps.Why? Why did Scottrade left (HESG) ban? Why no (PR) from Scottrade? If you dont no Scottrade had (HESG) stock restricted LiL over 90days ago.Do to Settlement issue with Nite......Not (HESG).....
Welcome to Scottrade on iHub!, Thanks Wyatt..looks like some changes needed to be done to your little town.
This is the place for all investors to communicate, collaborate, discuss and learn new ideas regarding Scottrade’s old new or halted products and discuss customer services or future discontinued service.
I think soon, we will find out why Scottrade has placed a buy halt for this stock. HESG - HEALTH SCIENCES GROUP, INC. Soon enough.
Scottrade's customer service agents answer to me about the Halt.
HESG is not restricted, it has a buy halt on open new positions. When I ask why? All that they could give me is that "it was not in Scottraids best interest to trade HESG due to itself preservation." Simply stating that it would cost them too much to trade HESG due to settlement issues.
HEALTH SCIENCES GROUP, INC. A stock that traded over 43 Billion total HESG shares in 2009... Why so many? If there were only 3 Billion became authorized when 2 billion shares were retired? In Feb. 2010 company had increased authorized shares to 20 Billion A/S..... FYI Market Maker (NITE)MM, traded over 23 Billion of those shares.
Whats does Scottrade have to do with NITE? 1) Knight Capital is Scootrades biggest Market Maker with over 51% of all trades being cleared through NITE 2) Scootrade recieves on average .0010 for all shares loaned to MM. 3) Roger O. Rinney CEO of Scottrade is also a director on NITE's board as the Current President of Knight Capital.
Where is the value, its a pink puka shell? ICEQUITY in Medical Marijuana..FDA Medicine... Mobil HEMP.. Food, Fuel, Clothing, Organic Chemicals, Industrial Energy, Financial Freedoms or maybe some just a bit of Free Will.
Lets not get ahead of ourselves.
Scottrade might be able to hold HESG back, but can you really hold back this movement. Or is it a problem with the company.... you keep, Scott? Is there a problem here if a group of investors can get rich of the market?
I thought that was the whole point to this game.
But back to the topic, the tsunami of medical marijuana companies that will flood the market like it did in real life. This is the stock market... believe it or not! HESG is the first through the Gateway.
Let me give you just the starting line up of companies who all want to into modern day gold rush. HESG has already staked the claim, It sitting on the Gate that Tom Gaffney Built.
IAGREE'NICE'SHELL'
WhatShell? Sit right back and hear a tale, of the little shell that could. If was not for the courage of its fearless crew, this little shell could be lost
ORIGIN Old English scell (noun), of Germanic origin; related to Dutch schel ‘scale, shell,’ also to scale 1 . The verb dates from the mid 16th cent. in sense 2.
Physics each of a set of orbitals around the nucleus of an atom, occupied or able to be occupied by electrons of similar energies.
In Hawaii, the wearing of puka shells was traditionally thought to ensure a peaceful and safe voyage, especially for sailors on a long journey
IMAI — International Merchant Advisors, Inc. Common Stock Par Value: 0.001
• Estimated Market Cap?$2,180,822 as of Mar 4, 2010 • Outstanding Shares?18,173,515 as of Dec 30, 2009 • Authorized Shares?500,000,000 as of Dec 30, 2009 • Float(shares)?1,934,870 as of Dec 30, 2009 • Number of Shareholders of Record?174 as of Dec 30, 2009 • Number of Beneficial Shareholders?200 as of Dec 30, 2009
GTLA — GT Legend Automotive Holdings Inc. Common Stock Par Value: 0.0001
• Estimated Market Cap?$1,181,200 as of Mar 9, 2010 • Outstanding Shares?5,906,000,000 as of Feb 1, 2010 • Authorized Shares?7,500,000,000 as of Feb 1, 2010 • Float(shares)?5,591,947,680 as of Feb 1, 2010 • Number of Shareholders of Record?3,008 as of Feb 1, 2010
CMSI — Cannabis Medical Solutions, Inc. Common Stock Par Value: 0.01
• Estimated Market Cap?$3,297,959 as of Mar 4, 2010 • Outstanding Shares?17,357,678 as of Aug 12, 2009 • Authorized Shares?250,000,000 as of Aug 12, 2009 • Number of Shareholders of Record?323 as of Aug 12, 2009
MJNA — Medical Marijuana, Inc. Common Stock Par Value: 0.001
• Estimated Market Cap?$40,699,623 as of Mar 4, 2010 • Outstanding Shares?217,645,044 as of Sept 30, 2009 • Authorized Shares?5,000,000,000 as of Sept 30, 2009 • Float(shares)?20,387,700 as of Sept 30, 2009 • Number of Shareholders of Record?400 as of Sept 30, 2009 • Number of Beneficial Shareholders?1,112 as of Sept 30, 2009
CBIS — Cannabis Science, Inc. Common Stock Par Value: 0.001
• Estimated Market Cap?$3,405,528 as of Mar 4, 2010 • Outstanding Shares?14,679,000 as of Mar 30, 2009 • Authorized Shares?30,000,000 as of Apr 4, 2008 • Number of Shareholders of Record?147 as of Mar 30, 2009
HESG — Health Sciences Group, Inc. Common Stock Par Value: 0.001
* Estimated Market Cap $440,000 as of Mar 9, 2010 * Outstanding Shares 2,200,000,000 as of Mar 9, 2009 * Authorized Shares 5,000,000,000 as of Mar 9, 2009 * Float(shares) 600,000,000 as of Mar 9, 2009 * Number of Shareholders of Record 187 as of Dec 8, 2008
A "reverse merger" is a method by which a private company goes public. In a reverse merger, a private company merges with a public listed company with no assets or liabilities. (The public company is also called a "shell" corporation). The publicly traded corporation is called a "shell" since all that exists of the original company is its corporate shell structure. By merging into such an entity, a private company becomes public.
The private company merges into a public company and obtains the majority of its stock (usually 80-90%). The private company normally will change the name of the public corporation (often to its own name) and will appoint and elect its management and Board of Directors. The new public corporation has a base of shareholders sufficient to meet the 300 shareholder requirement for admission to quotation on the NASDAQ SmallCap Market.
The advantages of public trading status, which are outlined in greater detail, notably include the possibility of commanding a higher price for a later offering of the company's securities. Going public through a reverse merger allows a private company to go public typically at a lesser cost and with less stock dilution than through an initial public offering (IPO). While the process of going public and raising capital is combined in an IPO, in a reverse merger these two functions are unbundled; a company can go public without raising additional capital. Through this unbundling operation, the process of going public is simplified greatly.
(Pink Sheets:IMAI.pk - News) http://www.imaiinc.com/ announced today that the company has created a new subsidiary in Colorado, IMAI Wellness Centers, Inc., to pursue the development of the company's new Wellness Centers and Medical Marijuana clinics for chronic pain relief. IMAI will also pursue acquisitions in addition to licensing and development in Colorado, where medical marijuana treatment is legal and can be operated on a "for profit" basis.
Mel Roseman, CEO of IMAI, added, "Colorado has a regulatory and business climate that is favorable for our new Wellness Center clinics. We want to offer non traditional methods of addressing patient complaints, as well as offering a natural pain relief alternative with medical marijuana. Many patients cannot tolerate high dosage pain relief medicines, and our natural treatment centers will offer these patients a physician supervised, healthy, natural choice to relieve chronic pain using medical marijuana."
Organic Science Value? With or Without HESG is the Question. 15 Million/ Without HESG 20 Billion shares at .0002 = $4 Million
My Dream HESG Scenario, first Scottrade halt restriction is lifted.
HESG = All Cannabis Investments Market Cap?$2,180,822 Market Cap?$1,181,200 Market Cap?$3,297,959 Market Cap?$40,699,623 Market Cap?$3,405,528 $50,765,132 = Interested Companies in Medical Marijuana
Private Equity Organic Science 15Million Strategic Concepts? Plus any more Unknown at this time HESG 20 BILLION SHARES AT .01 =? $200,000,000 Million in Market Capital
HESG 20B A/S forward split with dividend, after rolling up many companies into its Medical Marijuana Green Shell. Becomein the Worlds Largest Cannabis Conglomerate
HESG .0001 stock new price per share is $2.51, forcing all Market Makers in the largest margin call ever seen.
$100 shorted at .0001 = $-2.5 Million% margin call at $2.51 If not MM's are allowed to short .0001 with no margin call
Medical Marijuana, Cannabis Pharmacology & Hemp Cultivation Illegal? In the eyes of who?
Then God said, "Behold, I have given you every plant yielding seed that is on the surface of all the earth, and every tree which has fruit yielding seed.
I should have replied to my message because I called my local Scottrade to find my answer.
You only have to wait 3 days to buy stocks under $4 when you deposit money. There is no waiting period on buying any stocks after you sell no matter what their price is. But like you said, you have to wait until the trade is processed before you can sell.
I went with Scottrade because there wasn't any hidden fees like some of the other brokers, low trading costs, and there is a local branch within 15 minutes of my house.
I know that there might be some smaller brokers who have lower fees but I wanted to go with one of the major online brokers. After making comparisons, Scottrade was the clear winner.
You can wire money to your broker, the money should be available that day if you do it early enough. If you sell a stock you have to wait 3 days before you can use the money.
If you buy a stock you have to wait 3 days before you sell it. If you sell it before the Trade+3days you can be put on a trading restriction for 90 days... I know did it, but it was worth it.
I was in a pump and dump, when I realized it was I bought more on the dip and sold the next day for even. But since my last trade did not clear 3 days before I sold it, I was restricted for 90 days. No big deal you just have to plan the money you need for a trade 3 days in advance if you don't have any funds available.
God Luck, ... Why Scottrade? What made you decide to go with them?
I have a question about selling/buying stocks on Scottrade.
I know when I deposit money on there I can't use it to buy stocks under $4 for 3 days. But, if I sell some shares of a stock that I own, can I use that money to buy shares of a stock that is under $3 as soon as the transaction goes through?
Suggest you ask your friend, with the Scottrade account, to get the specific information from his branch office. If this is something to be implemented across all of Scottrade then we will all hear about it soon.
I saw some iHub buzz about that. Maybe some company's attorney called them and threatned Scotty?
Ameritrade doesn't publish a list online, and never has. Only margin / cash percentages required for certain stocks. They don't have lists of stocks you can't trade in or out on their web site
If you go to the website, the restrictions are no longer visible. Appears they have shuffled them under the carpet for some reason (or perhaps are experiencing "timely" technical issues). I guess folks taking their money to other brokers and complaining about the recent excesses of restrictions hit home. All in all, I'm certainly not gaining any confidence in them. In fact the way they're handling this business, they're beginning to remind me of a pinky stock.
Have you taken a look at their list lately, they are restricting everything that is running IMO. I really need to find another broker. This one defintely has their interests above their clients. And the sorry excuse that the TA charges too much, then how can Zecco or the others trade shares freely? IMO Scotty and NITE are not being honest with us!
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