My guess is that a lot of folks will unload shares prior to the long weekend, but buying pressure is also low. Some buyers may be sitting there like vultures waiting for daytraders to drop some cheap shares before the weekend.

If I had the cash, that's what I'd do.

MMTE/Penson update
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=63642746

Penson stock/brokerage situation update 05-27-11 at 10:45am
(Thanks Fourkids, Janice, Chroma-Z, Kingrat, Rocketman, JackRoch, Hyborianwar - Yahoo board)
-------------------------------------------------------------
Background
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=62772188
-------------------------------------------------------------
Good News!!

5/27 9:45am: Chroma-Z reports that Fidelity will accept his MMTE shares if he transfers the whole account. Fidelity covered the transfer fees temporarily so that the old brokerage account could be closed. Then Chroma had to reimburse Fidelity for those fees.

THANK YOU Fidelity!! And thank you Chroma-Z for sharing this important information!

---------------------------------------------------------
In other news

(05/26 1pm) E-Trade will not allow any incoming transfers of OTC stock, including MMTE.

URGENT REQUEST: We need to find a new home for MMTE shares that are trapped by Penson. Please check TDA, Fidelity, etc on the list below and report back whether they will accept MMTE share transfers. We need to do this before any more PRs. TIA

Clearing firm rattles investors (Barron's May 21, 2011)
http://online.barrons.com/article/SB50001424052970203869804576327382200170672.html?mod=BOL_twm_col


Stocks affected by Penson freeze as of May 2, 2011 (Thanks to Hyborianwar - Yahoo board)
http://www.tradingdirect.com/Static/StandAlone/non_dtcc_list.pdf#zoom=80%

Explanation of the high fees charged by Penson
"Trading non-DTC eligible securities will incur additional settlement fees including; a certificate fee $75, DTC TRF fee $90 and shipping fee $40 (when necessary). There will also be a DTC NYW fee and a transfer agent fee, which will vary and may be substantial." (Source: Chroma-Z)

---------------------------------------
Brokerages that use Penson as a clearinghouse - may not allow trading of certain pennies, or charge exorbitant fees
- eOption
- Firstrade
- Noble trading
- OptionsHouse
- Scottrade- can buy/sell MMTE, but cannot transfer in.
- Sogotrade
- SpeedTrader
- Thinkorswim
- Tradeking
- ZECCO


Brokerages that don't use Penson (check and report back)
- Fidelity- accepting shares if you transfer whole account!
- TD Ameritrade
- E-Trade- can buy/sell MMTE, but cannot transfer in OTCs
- Interactive brokers
- Merrill Lynch
- Schwab
- Sharebuilder
- Vanguard
- WellsTrade
- USAA

http://www.onlinebrokerrev.com/2011/01/broker-clearing-firms.html

----------------------------------------
What you can do
- Add your knowledge, experiences to this board so we can track the situation as if affects real investors

- Contact SEC, FINRA etc and ask for help

- If SEC FINRA can't help, contact your elected officials, especially those on banking, financial reform committees.
--------------------------------------------
Complaint links

SEC https://tts.sec.gov/oiea/QuestionsAndComments.html

FINRA http://www.finra.org/Investors/ProtectYourself/p118628

--------------------------------------------
My complaint to SEC (Sent May 5 - no response as of May 12 )

URGENT REQUEST FOR CLARIFICATION/ASSISTANCE

I am a small individual investor/trader of penny stocks. On Thursday, I tried to sell some shares of MMTE through Zecco and was told that I could no longer do so without paying a $200-700 fee! This exceeds the value of the holding, leaving me trapped.

I talked to ZECCO and they said this was not their decision, but that of their clearinghouse, Penson Financial. Apparently, Penson has distributed a list of stocks that can only be manually-cleared to brokers, and will now require each investor pay a $200-700 to buy or sell that stock.

I am in communication with other traders on trading boards and so far we have identified several stocks being affected, including MMTE, APCX, CPRKQ, and STAU.

The inability to freely trade these shares put many small investors at high risk if the stocks tank on us and we cannot get out of them quickly. This affects many thousands of small stock investors/traders. We are not only professional investors, but also housewives, teachers, retirees, and active duty armed forces personnel trying to augment our incomes with small stock trades. We need immediate help.


My questions to you: How can this be legal to impose such a fee with no notice or recourse? What can we do to trade our small stocks without such fees.

We urgently request your input on this situation as a new trading week dawns and we are now at risk of uncontrollable losses.

Thank you

Thanks for the clarification - I'll modify the statement.

You have done the whole investing community a great service by sharing your knowledge.

Agree - I suspect Fidelity is going to get lots of new business from grateful shareholders. I'm going to open an account with them today.

Bid volume starting to build...

Penson stock/brokerage situation update 05-27-11 at 9:45am
(Thanks Fourkids, Janice, Chroma-Z, Kingrat, Rocketman, JackRoch, Hyborianwar - Yahoo board)
-------------------------------------------------------------
Background
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=62772188
-------------------------------------------------------------
Good News!!

5/27 9:45am: Chroma-Z reports that Fidelity will accept his MMTE shares if he transfers the whole account. They also paid the transfer fees. THANK YOU Fidelity!! And thank you Chroma-Z for sharing this important information!

---------------------------------------------------------
In other news

(05/26 1pm) E-Trade will not allow any incoming transfers of OTC stock, including MMTE.

URGENT REQUEST: We need to find a new home for MMTE shares that are trapped by Penson. Please check TDA, Fidelity, etc on the list below and report back whether they will accept MMTE share transfers. We need to do this before any more PRs. TIA

Clearing firm rattles investors (Barron's May 21, 2011)
http://online.barrons.com/article/SB50001424052970203869804576327382200170672.html?mod=BOL_twm_col


Stocks affected by Penson freeze as of May 2, 2011 (Thanks to Hyborianwar - Yahoo board)
http://www.tradingdirect.com/Static/StandAlone/non_dtcc_list.pdf#zoom=80%

Explanation of the high fees charged by Penson
"Trading non-DTC eligible securities will incur additional settlement fees including; a certificate fee $75, DTC TRF fee $90 and shipping fee $40 (when necessary). There will also be a DTC NYW fee and a transfer agent fee, which will vary and may be substantial." (Source: Chroma-Z)

---------------------------------------
Brokerages that use Penson as a clearinghouse - may not allow trading of certain pennies, or charge exorbitant fees
- eOption
- Firstrade
- Noble trading
- OptionsHouse
- Scottrade- can buy/sell MMTE, but cannot transfer in.
- Sogotrade
- SpeedTrader
- Thinkorswim
- Tradeking
- ZECCO


Brokerages that don't use Penson (check and report back)
- Fidelity- accepting shares if you transfer whole account!
- TD Ameritrade
- E-Trade- can buy/sell MMTE, but cannot transfer in OTCs
- Interactive brokers
- Merrill Lynch
- Schwab
- Sharebuilder
- Vanguard
- WellsTrade
- USAA

http://www.onlinebrokerrev.com/2011/01/broker-clearing-firms.html

----------------------------------------
What you can do
- Add your knowledge, experiences to this board so we can track the situation as if affects real investors

- Contact SEC, FINRA etc and ask for help

- If SEC FINRA can't help, contact your elected officials, especially those on banking, financial reform committees.
--------------------------------------------
Complaint links

SEC https://tts.sec.gov/oiea/QuestionsAndComments.html

FINRA http://www.finra.org/Investors/ProtectYourself/p118628

--------------------------------------------
My complaint to SEC (Sent May 5 - no response as of May 12 )

URGENT REQUEST FOR CLARIFICATION/ASSISTANCE

I am a small individual investor/trader of penny stocks. On Thursday, I tried to sell some shares of MMTE through Zecco and was told that I could no longer do so without paying a $200-700 fee! This exceeds the value of the holding, leaving me trapped.

I talked to ZECCO and they said this was not their decision, but that of their clearinghouse, Penson Financial. Apparently, Penson has distributed a list of stocks that can only be manually-cleared to brokers, and will now require each investor pay a $200-700 to buy or sell that stock.

I am in communication with other traders on trading boards and so far we have identified several stocks being affected, including MMTE, APCX, CPRKQ, and STAU.

The inability to freely trade these shares put many small investors at high risk if the stocks tank on us and we cannot get out of them quickly. This affects many thousands of small stock investors/traders. We are not only professional investors, but also housewives, teachers, retirees, and active duty armed forces personnel trying to augment our incomes with small stock trades. We need immediate help.


My questions to you: How can this be legal to impose such a fee with no notice or recourse? What can we do to trade our small stocks without such fees.

We urgently request your input on this situation as a new trading week dawns and we are now at risk of uncontrollable losses.

Thank you

Congratulations Chroma-Z and thanks to the mighty Fido - we've found a new home!

Status update on Penson/MMTE issues
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=63639128

My guesses: very light trading overall, news hasn't circulated yet, and daytraders may liquidate holdings ahead of a long holiday weekend.

Creates bargains for the rest of us. I'm OK with that.

Paying down debt with first revenues - very smart in my book.

Wow - you nailed this call. Good job.

KGEM - glad you are OK - a lot of us are praying for those who were affected. Take care and come back when you can.

I'm working with the E-Trade office - they said that their policy is not to transfer in, but since my request was placed earlier in the month, it may accidentally go through - have to wait and see. If not, sell out of Zecco and rebuy elsewhere. Thanks for the input!

Good for you - looks like you can sell for a profit and start over with MMTE. If it were any other stock I would be worried about starting over, but not this one. So buh bye zecco!

Agree - glad to see you are still in the game. Now behave yourself.

These are very good questions.

Poor GLER - It's like Tinkerbelle - you have to believe or it will die.

Another winning solution. Thanks - we truly have a great board here!

I think this is the best solution. Thanks - creative!

Thanks - I'm thinking the best thing is just to sell the shares on the next bounce and rebuy in the other account. So it's a good thing it didn't go crazy today. Thanks for your help.

Trading shares not the problem. Transferring existing shares to a new account is the problem. Cannot find anyone who will let me transfer MMTE in.

Do they specifically allow the transfer in of MMTE and other OTC shares? Other sources have said no. Can you check? TIA

MMTE/Penson update- NEED HELP!!
E-Trade will not accept any transfers of OTC shares in. Buying/selling shares already in the account OK.

Urgent Request: Please check with your broker and see who accept MMTE share transfers - many many people are trapped here. I'll update whatever info I get from you guys. Thanks.

Updated info
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=63605873

Penson stock/brokerage situation update 05-26-11 at 1:00pm
(Thanks Fourkids, Janice, Chroma-Z, Kingrat, Rocketman, JackRoch, Hyborianwar - Yahoo board)
-------------------------------------------------------------
Background
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=62772188
-------------------------------------------------------------
What's New --VERY IMPORTANT!

(05/26 1pm) E-Trade will not allow any incoming transfers of OTC stock, including MMTE.

URGENT REQUEST: We need to find a new home for MMTE shares that are trapped by Penson. Please check TDA, Fidelity, etc on the list below and report back whether they will accept MMTE share transfers. We need to do this before any more PRs. TIA

---------------------------------------------------------
In other news

Clearing firm rattles investors (Barron's May 21, 2011)
http://online.barrons.com/article/SB50001424052970203869804576327382200170672.html?mod=BOL_twm_col


Stocks affected by Penson freeze as of May 2, 2011 (Thanks to Hyborianwar - Yahoo board)
http://www.tradingdirect.com/Static/StandAlone/non_dtcc_list.pdf#zoom=80%

Explanation of the high fees charged by Penson
"Trading non-DTC eligible securities will incur additional settlement fees including; a certificate fee $75, DTC TRF fee $90 and shipping fee $40 (when necessary). There will also be a DTC NYW fee and a transfer agent fee, which will vary and may be substantial." (Source: Chroma-Z)

---------------------------------------
Brokerages confirmed to be affected so far

Brokerages that use Penson as a clearinghouse - may be affected
- eOption
- Firstrade
- Noble trading
- OptionsHouse
- Scottrade- can buy/sell MMTE, but cannot transfer in.
- Sogotrade
- SpeedTrader
- Thinkorswim
- Tradeking
- ZECCO


Brokerages that don't use Penson (check and report back)
- Fidelity
- TD Ameritrade
- E-Trade- can buy/sell MMTE, but cannot transfer in OTCs
- Interactive brokers
- Merrill Lynch
- Schwab
- Sharebuilder
- Vanguard
- WellsTrade
- USAA

http://www.onlinebrokerrev.com/2011/01/broker-clearing-firms.html

----------------------------------------
What you can do
- Add your knowledge, experiences to this board so we can track the situation as if affects real investors

- Contact SEC, FINRA etc and ask for help

- If SEC FINRA can't help, contact your elected officials, especially those on banking, financial reform committees.
--------------------------------------------
Complaint links

SEC https://tts.sec.gov/oiea/QuestionsAndComments.html

FINRA http://www.finra.org/Investors/ProtectYourself/p118628

--------------------------------------------
My complaint to SEC (Sent May 5 - no response as of May 12 )

URGENT REQUEST FOR CLARIFICATION/ASSISTANCE

I am a small individual investor/trader of penny stocks. On Thursday, I tried to sell some shares of MMTE through Zecco and was told that I could no longer do so without paying a $200-700 fee! This exceeds the value of the holding, leaving me trapped.

I talked to ZECCO and they said this was not their decision, but that of their clearinghouse, Penson Financial. Apparently, Penson has distributed a list of stocks that can only be manually-cleared to brokers, and will now require each investor pay a $200-700 to buy or sell that stock.

I am in communication with other traders on trading boards and so far we have identified several stocks being affected, including MMTE, APCX, CPRKQ, and STAU.

The inability to freely trade these shares put many small investors at high risk if the stocks tank on us and we cannot get out of them quickly. This affects many thousands of small stock investors/traders. We are not only professional investors, but also housewives, teachers, retirees, and active duty armed forces personnel trying to augment our incomes with small stock trades. We need immediate help.


My questions to you: How can this be legal to impose such a fee with no notice or recourse? What can we do to trade our small stocks without such fees.

We urgently request your input on this situation as a new trading week dawns and we are now at risk of uncontrollable losses.

Thank you

Just checked - no promos. I prefer that myself. Slow and steady is better than attracting the hyenas.

I agree this is an important matter for investors.

That is TradingDirect's list - not DTCC. They are also cleared by Penson. The key to this is where are the shares held by Penson. Again, not a DTCC problem - Penson.

Thanks Phrozt - that's what I thought. If Penson is missing a bunch of shares, could we have a MOASS? What are your thoughts?

I think there may be a lot of shares unaccounted for at Penson - see previous discussions. Hope this turns into a MOASS.

Can you find the listing please? I'd like to see when it went on the list. TIA.

MMTE was not DTC ineligible last time I looked. This is not a DTC/DTCC problem. It is a Penson problem.

Very important update on Penson MMTE situation

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=63592529

At a glance:
- Tried to transfer my MMTE shares out of Zecco to ETrade
- Learned today that you cannot make ANY TRADES on Zecco during the 7-10 transfer period. If you do, the transfer date starts over. WTF!!

Penson stock/brokerage situation update 05-26-11 at 09:45am
(Thanks Fourkids, Janice, Chroma-Z, Kingrat, Rocketman, JackRoch, Hyborianwar - Yahoo board)
-------------------------------------------------------------
Background
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=62772188
-------------------------------------------------------------
What's New --VERY IMPORTANT!

I initiated a transfer of my MMTE shares to E-Trade on 5/12/11. On 5/23/11 I received an alert from E-Trade that they could not START the transfer until after all trades I made on Zecco had settled - even unrelated trades. THEN, the transfer from the date my last trade settles will take 7-10 days!!

This means you cannot trade anything in your Zecco account from the start of the transfer until it is completed - approx 7-10 days. If you do make any trades after the transfer starts, the transfer has to start over. WTF!!



[/color]
Clearing firm rattles investors (Barron's May 21, 2011)
http://online.barrons.com/article/SB50001424052970203869804576327382200170672.html?mod=BOL_twm_col


Stocks affected by Penson freeze as of May 2, 2011 (Thanks to Hyborianwar - Yahoo board)
http://www.tradingdirect.com/Static/StandAlone/non_dtcc_list.pdf#zoom=80%

Explanation of the high fees charged by Penson
"Trading non-DTC eligible securities will incur additional settlement fees including; a certificate fee $75, DTC TRF fee $90 and shipping fee $40 (when necessary). There will also be a DTC NYW fee and a transfer agent fee, which will vary and may be substantial." (Source: Chroma-Z)

---------------------------------------
Brokerages confirmed to be affected so far
- ZECCO
- SCOTTRADE (From King Rat: Buying and selling MMTE not affected, but you cannot transfer in a pink unless you have other nonpink holdings)

Brokerages that use Penson as a clearinghouse - may be affected
- eOption
- Firstrade
- Noble trading
- OptionsHouse
- Scottrade- uses Penson for options but not stocks
- Sogotrade
- SpeedTrader
- Thinkorswim
- Tradeking


Brokerages that don't use Penson (check and report back)
- Fidelity
- TD Ameritrade
- E-Trade
- Interactive brokers
- Merrill Lynch
- Schwab
- Sharebuilder
- Vanguard
- WellsTrade
- USAA

http://www.onlinebrokerrev.com/2011/01/broker-clearing-firms.html

----------------------------------------
What you can do
- Add your knowledge, experiences to this board so we can track the situation as if affects real investors

- Contact SEC, FINRA etc and ask for help

- If SEC FINRA can't help, contact your elected officials, especially those on banking, financial reform committees.
--------------------------------------------
Complaint links

SEC https://tts.sec.gov/oiea/QuestionsAndComments.html

FINRA http://www.finra.org/Investors/ProtectYourself/p118628

--------------------------------------------
My complaint to SEC (Sent May 5 - no response as of May 12 )

URGENT REQUEST FOR CLARIFICATION/ASSISTANCE

I am a small individual investor/trader of penny stocks. On Thursday, I tried to sell some shares of MMTE through Zecco and was told that I could no longer do so without paying a $200-700 fee! This exceeds the value of the holding, leaving me trapped.

I talked to ZECCO and they said this was not their decision, but that of their clearinghouse, Penson Financial. Apparently, Penson has distributed a list of stocks that can only be manually-cleared to brokers, and will now require each investor pay a $200-700 to buy or sell that stock.

I am in communication with other traders on trading boards and so far we have identified several stocks being affected, including MMTE, APCX, CPRKQ, and STAU.

The inability to freely trade these shares put many small investors at high risk if the stocks tank on us and we cannot get out of them quickly. This affects many thousands of small stock investors/traders. We are not only professional investors, but also housewives, teachers, retirees, and active duty armed forces personnel trying to augment our incomes with small stock trades. We need immediate help.


My questions to you: How can this be legal to impose such a fee with no notice or recourse? What can we do to trade our small stocks without such fees.

We urgently request your input on this situation as a new trading week dawns and we are now at risk of uncontrollable losses.

Thank you

Hotstocked always publishes hatchet jobs on stocks about to run. I suspect they are shorters.

Another smear article

http://digitallife.today.com/_news/2011/05/25/6715968-bieber-teams-up-with-shady-anti-texting-app-company

You can post retorts to it online.

Sounds more like a narcissistic sociopath.

I had to ask the same question once. Click on the poster's name, then look at the menu on the left hand side. Click on "Follow this member".

Great job Doubledown22. You earned your membermark!

Thanks Phrozt for the quick lesson on dilution and for keeping us up to date on the MM dilutors. Good to keep an eye on what they are doing. I am just now learning how to interpret MM activity on Level IIs. Your posts are very helpful.

FourKids - thanks for the Penson update info - added