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No TD is not trading PELE FYI...:)
You'd think, otherwise, how is it going to run?
When I asked my broker, who is the one at risk, instituition or investor, when there is a "Global Lock" placed on a security, the reply I received was:
In most, if not all, of those cases where there is a DTC lock, the risk is taken by the customer. As state previously, there is no guarantee that you will receive payment. We deliver the shares to the other firm, and they are supposed to deliver the cash to your account. While we do not give you actual cash upfront, you may be allowed to use the anticipated proceeds to purchase another security. You will receive the proceeds of the sale when and if, the other side pays the proceeds on the settlement date. Because of this risk of non-payment to the client, we have not allowed trading in this security.
I understood the explanation of the "Global Lock" and DTC reasoning but I wanted to know why some brokerages were a green light and some were not.
We know, however, there is someone out there selling? Last week TDameritrade was one the brokerages that still traded pele
I'm happy when I see it close at .25 and beyond!
A message I received from my broker:Thank you for your email. I appreciate the opportunity to assist you.
I contacted our Trade Support Group, and DTC did place a global lock on Pro Elite, Inc. (PELE, security number 3030687). This is because no one can guarantee that if you sold your shares, that you would actually get paid for the stock. When DTC places a global lock on a stock, this is because they believe there may have been fraudulent activity or found some other reason that caused concern for shareholders. While you are correct that there are other firms who seem to be trading this security, these trades are occurring outside of DTC and has no guarantee that you will actually be paid.Because there is no guarantee that you will be paid, we are not allowing trading in this security until DTC lifts the global lock. Unfortunately, we do not know when or if this will occur. For more information, you can call the company directly or contact DTC at 1-888-382-2721. You can also visit their Web site at www.dtcc.com for additional information.*
Hey DalaiTom,
It definitely was from a different position. It's more like having a boss that promises you a raise after an interview, and each paycheck was wrong.
Okay, if it was whining, well that's how I felt. Ahhh and now it may get worse.
PELE and SMDI have a lot in the works, I don't doubt that for a split fashion review, however, like anyting, everything gets old if timeline aren't followed.
I'm calm until the next catwalkk......
I concur, it's the shhhhhhhhhh time, then SURPRISE!
The Creshendo will come.
The necessary parties who need to know, know, the rest need to sit tight and trust it.
It looks like someone is making it difficult to trade PELE?
What makes one firm hold, and another no, especially if they're using the same transfer agent?
TDAmeritrade is still green on PELE, however, their brokers are advising it can change at any moment.
Interesting to know TDAmeritrade uses DTC also, but they still have a green light on this stock :)
Where is everybody today? Spring Break doesn't start until tomorrow for a lot of the schools. :)
Seriously where is everyone?
Even with some brokerages willing to trade (I think) I don't recall how long it was that it was nothing on volume.
Maybe I'm wrong about others able to trade??
It all depends on the Transfer Agent each instituition uses. From my understanding it's the transfer agent and brokerage agreement that is in question.
The other instituitions who use other transfer agents are okay.
The suspension will end once the Transfer agent settles fees and the ambiquity of shares.
That's the best i got out of two different instituitions. My geuss they don't know much more than that as well
I will admit, it's been a while since I've seen "zero" volume traded for Pele.
The longs are hanging in there, also it helps that many brokerages are not allowing any buy/sell transactions!
Hopefully it will be resolved SOON. I wonder if Amy is familiar with it now after doing some research.
Contradictory on the company has nothing to do with it vs the company can explain what is going on.
not to use the word halt, I meant temporarily suspended.
Supposingly another broker covered themselves and stated it maybe a domino effect so no gurantees if you move your shares over, it may or maynot fall into the same category.
I will give it a little more time before I start moving my shares.
Want to see if this broker I have in mind is still valid to trade after a couple of more days.
My sentiments also, px will boom, based on no selling and BIG News.
My broker advised me they cannot settle trades for Pele, however, if it's to transfer the security to another brokerage, then it's okay.
We'll see for how long. There are many brokers who are not trading the security. Also, I don't want to use a broker that I'm not comfortable with.
Something will prevail and we'll all be here to SEE What.
Ask your broker, they will advise all the information from the standpoint of reasons why the security is placed on "Globally Lock" I think something big. Something Good, etc...
on Friday, Scottrade was trading, now it's not. So just hang tight.
I was advised from a broker ProElite has been placed in this position because they have witheld information to the public?
This guy could be looking at old news or miscontruing it.
Doesn't look like any of the brokers know what is really going on.
Nonetheless, I think there's a good reason for his hiccup or process, and when it's cleared up all will be GOOD!
You better check with Scottrade again, they are not trading on PELE right now.
Advised from a broker at Scottrade, they cannot trade this security as well, due to the Global Lock on it. I geuss many institutions use DTC therefore unless certain variables are cleared or answered, Scottrade will not move this PELE!
Our broker stated the same. Each time I spoke with someone different, as I waited, I received a little more info. They advised the transfer agent is very difficult to get a hold of, they didn't say they were gone.
I complained that I wasn't advised and if other investors decide to sell and they can't, it will be a sea of badgering, squawking, and much more if they can't liquidate!
If there are any investors that use Schwab, I advise you to call and squawk at them.
Now the broker is a advising me the DTC cannot settle the trades.
DTC= deposit Trust Corp
It may have to do with which brokers investors have as a tool.
Some brokerage accounts are trading, but others have put a halt, Global Lock, etc on this particular security.
Or no one is out to sell or buy
My broker advised me their Transfer Agent is the one causing a "Global Lock" I tried to get more details, and he came back and advised this maybe a pump and dump due to the most recent activity spiking in March, with no news, which I did correct him on, etc...
He's not sure how long it will last. I'm completely put off on it. When they traded before 6 mos ago to a year the same risk factors exist? Anyway if by a couple of days it's not lifted I will shift to Scottrade or.......... any suggestions
Tks Vard for confirming. Of course I'm not making it up? One of the posters implied that. Why would I do that?
Anyway I was telling you what the broker said to me and at the same time wondering if their was news on the street of why a halt came to be.
I concur, but having my hands tied with an investment is not a good feeling.
I know all is positive and not understanding why PELE is not following trading regulations, or has a hiccup from tech that hasn't been resolved.
I understand some brokers wont, however this one did and now has halted it. Who is your broker and did you just buy today.
All this has happened today.
I didn't have problems accumulating PELE for the past year with this broker, again the issue is immiment and NOW.
Let me know who your broker is. Tks in advance
This is recent. I've bought with this brokerage. I'm aware some brokerages don't trade Pinks. But this one has (Schwab) and now they don't due to reasons Pele is not furnishing papers to them like their supposed to?
check Scottrade today and see if they will do it, they wont
Hello Moderators and posters, Our gem PELE is on Halt trading from many brokerage accounts! Maybe for a good reason, anyway I hope it clears out ASAP
There are great DD and post on this board, but right now isn't anyone a bit curious why investors cannot Buy or Sell Pele????
PELE is on Halt both ways, you cannot buy or place any sells??Supposingly the company is not being compliant with their papers and regulations, that's the most my broker will reveal.
I was advised when placing a good until cancelled order the same thing. One of my brokers - Schwab advised the symbol/commpany is on Halt, reason being, they're not submitting certain paperwork to the brokerage like their supposed to.
You answered my question about the other brokerages.
If the PR person in charge now doesn't perform, you'd be an excellent candidate.
Your post has a plethora of information for new comers and existing ones as well.
Thanks for putting such a great effort
due diligence, U gotta know this company. Their forthcoming, and soon to be, and a couple of days are not the same meaning as officially known to mankind.
However, I will back up the News when it comes it will be
TREMENDOUS!
Lets go stratus, so Pele can kick some butt!
Zoonall speaks the Truth.
It will be at .075 soon, that's what my account states :)
A penny for your thoughts...
Well more than speculation, in the wind there is a whisper of news to come as soon as it's POSSIBLE. The keyword in my t houghts are possible.
It's All Good, so hang tight.
Lets have a ............. Friday and wknd!
Don't flatter them so much. I don't believe bashers & bullies can dictate what is happening to the stock.
Fundamentals, facts, and official news will be it's saving Grace and resurrection.
Yes, I do and being a public company, they need to disclose certain info and I honestly don't see the harm in doing so.
If others say it, looks like a rumour, pumping up, chatter, and even bashing at times.
Therefore I'm all for the official company to release news.
Fetus, I never saw that post until now.
It's worse than a LS