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IR clearly said in many e-mails that were posted that "part of the plan is a name & symbol change". And it makes sense to get a new CUSIP number issued because then THE TA WILL ISSUE NEW SHARES TO ALL THE SHARE HOLDERS AND ONLY THE 22.8 BILLION, (minus liani holdings shares). Hence all the shorts will have to be cleaned up, then the DTC will lift the chill.
Jerry, it's been almost 6 years in the making, the company has spent millions of dollars on this, they WILL get their payday just like we will.
I agree, my prediction is all the 30 (approx give or take a few)retail brokers that hold paper on PYCT will NOT allow buys once they announce the CUSIP number change. They need the shares badly by the execution date.
The DTC told them that they needed to to the CUSIP number change I am sure. I never said Tom said that the DTC told them any thing. He didn't have to because it's right in the PR. Did you read it? LMAO!!
It clearly says the company needed to propose a plan to the DTC before they would lift the chill. If they did not how would the company know what to do? once again LMAO!!
Let's face it, the DTC wants the short cleaned up before they lift the chill, it's a huge liability for them because the company has now done 2 stock audits.
The SHORTS will have to cover either way, post that all you want.
"and propose a plan of action to the DTC" I suppose the company was reading the DTC's mind about the company needing to do these things so the DTC would lift the chill? LOL
The DTC gave the company the items that the company needed to do in order to get the chill lifted. And 3 of the items are NAME/SYMBOL CHNAGE AND CUSIP NUMBER CHANGE so the short would get cleaned up.
That's why the shorts are so worried, 80 billion shares (give or take 10 billion) will be very expensive to clean up.
Why else would the DTC be requesting that the company do a name/symbol change and CUSIP number change? does that bother you?
A name change/symbol change/cusip number change is hardly info that cannot be disclosed. If Tom could not disclose it he would not, if he can he will.
It's not up to FINRA, the DTC is the one who is requesting the name/symbol change/CUSIP number be executed before they will lift the chill. And to sun it up, THEY WANT THE SHORT CLEANED UP before they will lift the chill.
I agree, I don't think it takes that long for approval on the date. From what I understand the company puts the date on the form of when they want to do it. The execution date must be 10 days or more out from the date of filing. I suppose FINRA may have a company wait a day or two or a week but only if it's a scheduling conflict, meaning FINRA and all the retail brokers probably do not want 200 companies doing a name & symbol change on the same day.
It's not at all because the DTCC is who requested the items that need to be executed in order for the chill to be lifted. You don't think PYCT submitted the letter from the DTCC with their paper work? of course they did and of course the DTCC gave PYCT's attorney in writing what was to be executed for the chill to be lifted.
Then we have nothing to worry about because the DTCC is the one who came up with what PYCT has to do in order for the chill to be removed.
And when the date for the name/symbol/new cusip number is announced what will you say then? you can post all the non relevant things you want, it won't change the fact that it's happening.
This whole action plan is about cleaning up the short before the DTC will lift the chill, bottom line end of story.
Total hogwash, the DTC is the one who came up with what PYCT needs to do in order to get the chill lifted. They call the shots, per FINRA faq's once again they can only deny requests if a company does not file the forms in certain time frames. Do you want me to post FINRA's rules again?
The DTC requested the name/symbol/cusip number in order to lift the chill, the DTC has much more power than FINRA, FINRA only regulates Market Makers and sets execution dates if they are conflicting for divi's name changes and symbol changes.
FINRA does not issue a CUSIP number this company does;
https://www.cusip.com/cusip/index.htm
NO THEY CANNOT, AND A CHILL DOES NOT FALL UNDER A CORPORATE ACTION
The chill was out of the companies control
HA HA!!! good one, you say the company and insiders are selling and have been for the last 5 years? That is not true and here's why:
1. most of all the preferred shares are locked up in the chill so none of them have been able to sell.
2. In the financials it shows that the company has not sold one single share on the open market in over 7 years.
3. The OS is pretty much maxed out already.
4. The company did a SHARE BUYBACK, they are buying not selling.
PYCT RECOMMENDED BUY @.0001 MARK THIS POST, I am going to predict .02++++++ by the end of September.
3. What documents are required for a Company to change its name?
The company needs to complete the Issuer Company-Related Action Notification Form and submit to FINRA no later than 10 calendar days prior to the record date of the corporate action. Submissions can be set via email or fax to (202) 689-3533. Failure by an OTC Equity issuer to provide the requisite notice may constitute fraud under Section 10 of the Securities Exchange Act of 1934.
4. Are there any reasons when an OTC Voluntary Symbol Change will not be granted? Or are there any time restrictions when requesting an OTC Voluntary Symbol Change request?
Yes, FINRA will not process a voluntary symbol request if the issuer has either an announced corporate action or a symbol change within the past 60 days.
http://www.finra.org/Industry/Compliance/MarketTransparency/UPC/FAQ/P117315#2-3
FINRA DOES NOT REGULATE IF A COMPANY CAN DO A NAME & SYMBOL CHANGE, THEY MANAGE THE PAPERWORK AND THE DATES. THEY DO NOT HAVE THE POWER TO DENY ANY COMPANY'S NAME & SYMBOL CHANGE REQUEST.
I know, any seasoned trader knows in a naked short sale the market maker cannot report it and will not report it because to the system it does not exist. The NOBO list does however show all the unregistered/fake/fraudulent/naked shorts.
GOOD LORD! THERE ARE NO EXPENSES FOR A NAKED SHORT, IT'S AN UNREGISTERED SHARE AND NO SHARES WERE BORROWED TO SELL IT SHORT.
CDEL has NOT REPORTED SHORT SALES LIKE THEY ARE SUPPOSED TO. And has been fined close to $500,000 dollars for all their wrong doings.
PAGE 39 of this report
http://brokercheck.finra.org/Support/ReportViewer.aspx?SearchGroup=Firm&FirmKey=116797&BrokerKey=-1
TOO FUNNY!! CDEL's ask size stays the same when more volume comes in
NO! The SHORTS will not start covering until they are forced. WATCH AND LEARN
READ THE NEWS RELEASE!!! THE ACTION PLAN WILL BE AND MUST BE EXECUTED BEFORE THE CHILL IS LIFTED!!!!!!!!!!!
" The Company has addressed a number of specific issues raised by the DTC. The Company now needs to address one final issue and propose a plan of action to the DTC to bring this to a conclusion. The Company must execute this action plan in a timely manner and is confident that once the plan has been executed and all necessary documents delivered to the DTC, they will remove the chill."
Please find another pinksheet that has done 2 DTC Stock audits, I bet you can't even find 1
NO WAY
Any SEASONED TRADER knows what is happening and what is about to happen.
THE DTC IS REQUESTING THIS "ACTION PLAN" TO GET THE SHORT CLEANED UP, MARK THIS POST
NOBODY WOULD SELL UNDER .01 IF THEY KNEW WHAT WAS COMING
I PREDICT A VERY LARGE MOVEMENT IN PPS
PYCT RECOMMENDED BUY @.0001 MARK THIS POST
If you think the company would release a press release with these words;
"The Company must execute this action plan in a timely manner and is confident that once the plan has been executed and all necessary documents delivered to the DTC, they will remove the chill."
in the PR and the DTC did not give them the list (CONTINGENCIES) and tell them that the chill would be lifted after the "action plan" is executed then you are grossly mistaken. The company would have got shut down that day the PR came out.
NEXT
The fact is, the DTC said the chill will be lifted once the "action plan is completed.
We have heard stuff like that for 9 years, and none of it is true. Scam this scam that bla bla bla, nobody believes it.
YEAH RIGHT!!!! LMAO!! The DTC is going to oversee this "action plan" before they will lift the chill, but yet it's a scam?? ROTFLMAO!!!!!!!!!
Any SEASONED trader knows that is part of the action plan is for the company to do a name/symbol change that they will also get a new CUSIP number issued during the process. Otherwise the action of doing a name/symbol change without getting a new CUSIP is worthless because the TA does not have to send out new shares when a new CUSIP is not issued with the new symbol.
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
I was explaining the PROcess, The company (PYCT) IS getting a new CUSIP number with the name & symbol change. MARK THIS POST
I know a lot more than you do about PYCT, trust me, my numbers and predictions are more accurate.
They are getting a new CUSIP