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great post ac
Well i must say i love the volume,,,With volume like this we should be at 001 soon
I think in the next few weeks to month something has got to happen,,,Im curious why people are so adamant about telling all of us how this is a dead stock,,,their are other stocks out their that are worth saving the shareholders ,,,heck bkm- is one of them,,,big money will jump in once merger is complete and their will be no looking back for rcch shareholders
well people are sitting on the sidelines with more then the float and others with big money will be jumping in when the bell is rung...we will see in time,,,when is the answer,,,,when
webby hope your time away was good,,,lost my pants into rcch suppose to go to the moon,,,whats up bkmp,,when do you think 686,,,,terry
hey web,,,,been into rcch and hoping for the merge/uplist,,,if what ceo says is true to the moon
thing that your missing here is he just raised the share structure what about all those other shares that were sold beforehand,,,tons of tons of shares,,,,im done with my 2 posts
SEC Issues New Rules to Protect Investors Against Naked Short Selling Abuses
FOR IMMEDIATE RELEASE
2008-204
Washington, D.C., Sept. 17, 2008 — The Securities and Exchange Commission today took several coordinated actions to strengthen investor protections against "naked" short selling. The Commission's actions will apply to the securities of all public companies, including all companies in the financial sector. The actions are effective at 12:01 a.m. ET on Thursday, Sept. 18, 2008.
Additional Materials
New Short Selling Rules
"These several actions today make it crystal clear that the SEC has zero tolerance for abusive naked short selling," said SEC Chairman Christopher Cox. "The Enforcement Division, the Office of Compliance Inspections and Examinations, and the Division of Trading and Markets will now have these weapons in their arsenal in their continuing battle to stop unlawful manipulation."
In an ordinary short sale, the short seller borrows a stock and sells it, with the understanding that the loan must be repaid by buying the stock in the market (hopefully at a lower price). But in an abusive naked short transaction, the seller doesn't actually borrow the stock, and fails to deliver it to the buyer. For this reason, naked shorting can allow manipulators to force prices down far lower than would be possible in legitimate short-selling conditions.
Today's Commission actions, which are the result of rulemaking under the Administrative Procedure Act, go beyond its previously issued emergency order, which was limited to the securities of financial firms with access to the Federal Reserve's Primary Dealer Credit Facility. Because the agency's exercise of its emergency authority is limited to 30 days, the previous order under Section 12(k)(2) of the Securities Exchange Act of 1934 expired on Aug. 12, 2008.
The Commission's actions were as follows:
Hard T+3 Close-Out Requirement; Penalties for Violation Include Prohibition of Further Short Sales, Mandatory Pre-Borrow
The Commission adopted, on an interim final basis, a new rule requiring that short sellers and their broker-dealers deliver securities by the close of business on the settlement date (three days after the sale transaction date, or T+3) and imposing penalties for failure to do so.
If a short sale violates this close-out requirement, then any broker-dealer acting on the short seller's behalf will be prohibited from further short sales in the same security unless the shares are not only located but also pre-borrowed. The prohibition on the broker-dealer's activity applies not only to short sales for the particular naked short seller, but to all short sales for any customer.
Although the rule will be effective immediately, the Commission is seeking comment during a period of 30 days on all aspects of the rule. The Commission expects to follow further rulemaking procedures at the expiration of the comment period.
Exception for Options Market Makers from Short Selling Close-Out Provisions in Reg SHO Repealed
The Commission approved a final rule to eliminate the options market maker exception from the close-out requirement of Rule 203(b)(3) in Regulation SHO. This rule change also becomes effective at 12:01 a.m. ET on Thursday, Sept. 18, 2008.
As a result, options market makers will be treated in the same way as all other market participants, and required to abide by the hard T+3 closeout requirements that effectively ban naked short selling.
Rule 10b-21 Short Selling Anti-Fraud Rule
The Commission adopted Rule 10b-21, which expressly targets fraudulent short selling transactions. The new rule covers short sellers who deceive broker-dealers or any other market participants. Specifically, the new rule makes clear that those who lie about their intention or ability to deliver securities in time for settlement are violating the law when they fail to deliver. This rule also becomes effective at 12:01 a.m. ET on Thursday.
# # #
http://www.sec.gov/news/press/2008/2008-204.htm
Home | Previous Page
Modified: 09/17/2008
wasnt this what you once said or should i say 80 cents
ProElite Closes Deal with Strikeforce; Retires Showtime Debt
ProElite, Inc. (OTB:PELE.PK) said today that it has sold a portion of its EliteXC assets to Strikeforce®, its co-promoter for some of the biggest and most widely watched televised mixed martial arts (MMA) events on CBS and SHOWTIME®.
With the deal closed, ProElite has retired its entire debt obligation to Showtime and Showtime will remain a significant shareholder in ProElite.
Strikeforce® is acquiring certain EliteXC fighter contracts and a library of televised EliteXC events.
“With the sale, ProElite can now operate substantially debt free,” said ProElite CEO Chuck Champion, “and devote more resources to the development of our King of the Cage brand which founder Terry Trebilcock has managed profitably from its inception. Terry is one of the most capable leaders in the MMA space. He’s staged hundreds of successful events and I’m confident that under his guidance King of the Cage will continue to be a major force in the sport.”
Champion said that he was excited for the talented fighters that were part of EliteXC and are now joining Strikeforce. “Strikeforce is a highly regarded producer of live events and it will no doubt create substantial opportunities for its new athletes,” he said.
“Getting to this point has been a long hard road and I’m grateful to Showtime, Strikeforce, the fighters and their managers for their patience and their perseverance,” Champion concluded. “The company has managed its way through a very difficult time and it has done so in a way that has built bridges rather than burn them. Everyone involved deserves a lot of credit for the outcome.”
Following the sale, ProElite will continue to own the EliteXC brand. Among ProElite’s other significant assets are a host of international MMA brands such as Spirit MC, an extensive library of MMA events, and its community-driven interactive broadband entertainment website. The company also is co-producing a new reality show with Mark Burnett, the visionary force behind reality TV in the United States.
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Ok as we speak have a 4.8 million dollar trade going in,,,,,,lets see if it goes through
here my account had money in it on friday and then we had a 4000000 trade and it wasnt a sell and now my account has nothing in it,,,,,what the heck,,,,lets move this stock,,,Boy I wish all MM would lose all their money,,,,,
well their is short or naked short,,,if noone is selling how can they cover,,,
GP,,,thats short interest,,,NOT NSS
I heard that someone wasnt happy with that Article and I think that letter just tryed to get things to be put out in the open in which gene has stated what his intention is which are uplisting and merging,,,The MM want to know down to the second of what is going on and sometimes things have to be done before hand for announcements are put out, But people are screaming we want transparency now,,,Well transparency will be soon arriving on the doorstep and what will happen is anyones guess,,,HMMM,,,Never have i seen so many people try to save us or tell us what a scam this is,,,But really what did webb tell us,,,nothing that we already didnt know,,,,for longs hang tight for the time will come soon and everyone will be scampering to get into this stock and some people will try to persuade you out of your shares...Just remember that the EPA, ETV, NSF, NYU and the Canada Government think we are for real
DEQ, Montana, Idaho
Eye on America
Pinehurst
just to let everyone know i put an order in to buy 2 million shares at .0002,,,,none got traded,,,,last 20 minutes though,,,.
Patience is the key,,,Transparency doesn't need to be on your time frame,,,Things need to work out,,,whats the rush,,,People will either be broke or rich
yes it is,,,you will prob. be able to buy it after the merger
wow that is beautiful property,,,where is that ,,,awesome
Sent this contacting the enforcement department about how i feel we are NSS. Let's hope they look into this alot before the MM need a bailout
Dear Sir or Madam:
Thank you for your recent e-mail to the group electronic mailbox of the Division of Enforcement at the United States Securities and Exchange Commission in Washington, D.C. We appreciate your taking the time to write to us. This automated response confirms that the Division of Enforcement has received your e-mail. You can rest assured that an attorney in the Office of Internet Enforcement will review your e-mail promptly.
We are always interested in hearing from members of the public, and you may be assured that the matter you have raised is being given careful consideration in view of the Commission's overall enforcement responsibilities under the federal securities laws. It is, however, the Commission's policy to conduct its inquiries on a non-public basis -- so this may be the only response that you receive. If your complaint is more in the nature of a consumer complaint (such as a dispute with your broker or a problem with your brokerage or retirement account), you should contact our Office of Investor Education and Assistance -- they may be able to help you. You may reach the Office of Investor Education and Advocacy via telephone at (202) 551-6551or through the Web at HYPERLINK "http://www.sec.gov/complaint.shtml ".
The Commission conducts its investigations on a non-public basis to preserve the integrity of its investigative process as well as to protect persons against whom unfounded charges may be made or against whom the Commission determines that enforcement action is not necessary or appropriate. Subject to the provisions of the Freedom of Information Act, we cannot disclose to you any information which we may gather and we cannot confirm to you the existence or non-existence of an investigation, unless made a matter of public record in proceedings brought before the Commission or in the courts.
If you are unsure where you should direct your inquiry or you want to learn more about how the SEC handles inquiries and complaints, please visit the SEC Complaint Center at HYPERLINK "http://www.sec.gov/complaint.shtml".
Should you have any additional information or questions pertaining to this matter, please feel free to communicate directly with us at HYPERLINK "mailto:enforcement@sec.gov".
We appreciate your interest in the work of the Commission and its Division of Enforcement.
Very truly yours,
This must be huge because i have never seen this much crap going on,,,man i need to pay attention more,,,bashers from hell,,,articles written,,Ihub banning people for no reason,,,not much on rcch board but negative stuff,,,they have an army ,,,Gene pull out the BIG GUNS and show them what we are about,,,,
Your right hotdog but i bet it put doubt into alot of peoples minds,,,i just want to see merger and os,,,thats all that is important,,,i think if we bought 10 million shares they wouldnt get this to move,,,,this is very important to them to keep this down,,,gene must be burning up,,a lawyer would be something i would look into,,,these people have alot of people on their side but when you look at how much money they can lose like 1 trillion dollars they should be scared,,,,Cmon Gene show them what we can do
No but as in law suits and articles written which im sure you have seen they are not all on the up and up,,
Well here we sit waiting for the Merger of RCCH,,,How long are we going to have to wait....HMMMM,,,,anyone what to put your thoughts out there
No i guess i believe what everyone is talking iws to tse,,,,you know what would be funny if rcch uplists to lse,,,,,i would laugh my ass off
would be nice to see this stock show some type of volume,,,,,,
It wouldnt make sense if we can do this in the next two weeks,,,but who knows really,,,the exchange could take as long as it wants,,and if the MM gets beaten up on this that isnt our or the exchanges concern,,,
I cant post on the rcch board, Rcch will merge to a tsx exchange as stated
Neal,,,,give us a date,,,Money is low,,Obama is lost, economy is in trouble,,,,just bounced this to 0003 you can have my shares
This is my last post,,,2 for a day,,,what is it you don't understand,
Scottrade thinks this is a scam and doesn't sell shares.
Could it be that Scottrade CEO was on the same BOD with KNIGHT and things were talked about...
Tell me how do you Disprove the EPA, ETV, NSF,and NYU
Also the Canada Government think we are for real,
DEQ, Montana, Idaho
What about Eye on America
Pinehurst
Please explain to me all this
So I'm Curious how the GOV't /SEC are going to take SCOTTRADE down for what they have done not allowing trading with this stock.
Dear ,
Thank you for your recent inquiry.
RCCH is on our "No Buys/Sells Only" list. RCCH was added to the "No Buys/Sells Only" list due to it being an illiquid stock.
An illiquid stock incurs additional National Securities Clearing Corporation (NSCC) clearing requirements for our FOCUS report. FOCUS reports show the financial condition of the member, include net capital computation and provide operational information. Should a fail to deliver situation arise with an illiquid stock like RCCH (failure to deliver is a situation where the broker-dealer on the sell side of a contract has not delivered securities to the broker-dealer on the buy side), Scottrade's Accounting Department has to take a capital charge on the fails for FOCUS reporting, thereby impacting the yield on our investments and reducing available capital for other business purposes. In fact, the NSCC requires broker dealers to put up capital for security positions based upon the price of the securities and sometimes the charge is extremely large in relation to the value of the aforementioned security.
Take this example into consideration. Imagine that Scottrade holds 38,000,000 shares of WXYZ. WXYZ is an illiquid stock. WXYZ is trading at $0.002 making the market value of the position $76,000.00. Due to the additional NSCC charge on this illiquid stock, Scottrade would be required to put up over $1,000,000.00 even though the market value of the position is only worth $76,000.00.
This is the reason that RCCH is on the "No Buys/Sells Only" list. Please note that it is acceptable for a brokerage house to create a “No Buy/Sells Only” list and their existence throughout the financial services industry is quite common. Additionally, the existence of a “No Buy/Sells Only” list at Scottrade is acceptable under SEC and FINRA guidelines. Finally, Knight Capital Group does not influence our decision to create a “No Buy/Sells Only” list. Market makers are compensated based on order flow therefore, they desire to have as many orders as possible routed through them. A “No Buys/Sells Only” list does not help a market maker’s compensation.
Hopefully this will clarify any of the confusion that you experienced in regards to this security.
If there are any additional questions, please feel free to contact us. Representatives are available Monday through Friday from 6:00 a.m. to 10:00 p.m. Central Time. Branch office information is available in the Branch Locator on our home page http://www.scottrade.com/online_brokerage_firm_locator/ or by dialing toll free 1-800-619-SAVE to connect to the office in your area.
Thank you for choosing Scottrade!
Jessie Salatka Lichter
Stockbroker Team Lead, National Service Center
Scottrade, Inc.
www.scottrade.com
www.scottradeelite.com
Just wish this would slowly start to move or see this freaking merge go through,,,work is slow and the money isnt coming in,,
I want to believe in all the dd that we have done,,,with all the people on here that are against this company and put doubt in people's mind thats all we need is something like this. Only Gene really knows if this is a scam, Only Gene. The only way that we will know is by seeing the merger come through.
what does it solidfy ,,,that rcch is a scam,,,
mistakes where made in my life and im not proud of,,
how could the dollar volume be low when we traded 240 million shares in one day
im sorry Janice maybe you could tell me what that means
G did you know i went down and looked at their office,,,it is beautiful with a secretary and employees and they i believe are making money. alot doing over 300 clients a month,
i just have to say RCCH has so much more going for them then my other stock and with ezee debt being the company that it is i cant believe the mm are even with this stock and that people have negative feelings when this stock is making so much money
Funny im in another stock that is at -0001 that isnt trading at all yet they will let me buy tons and tons of shares ,,,100 million shares and yet know one speaks to me about that