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I dont believe there are that many round up shares. So who has them?
So I am not believing the O/S they gave.
Yeah that Restricted stock dividend may have made it worth while.
Else it was a low payer at $1.5 calc post split. Reality puts it at .5-.7
They issue additional share guru they have to pay market pricing discounted very slight discount. Remember it is a public company......why do you think pricing falls so fast for pinks....who are you going to sell worthless paper too?
Right now it is not worthless. They want to sell the shell.
Defeats their purpose either way.
Either way it will cost them money....they are deciding which ccarries the least pain.
Getting rid of fractional shares holding is in all shareholders best interest......mailing costs will kill you for a holder of 0.01 of stock???
Laughing shows what kind of peopley they are?......it has been a while since a post has so well shown what kind of person the poster is....
Laughing. I would avoid R/S as you are out of your league.
I am sure they started back tracking as soon as the round up shares began to put the majority shareholder in the minority.
That was not his plan.
It messed up his whole plan.
Bottom line is we should have looked at the O/S as a result.
We can complain all we want to but we should have known this one would work out cause the man loses control.
Most of the R/S I read have a catch all that the board can recind the transaction if it is not in shareholders best interest even after the split is approved by shareholders.
Didnt read the filing again for that catch all.
I have no doubt they will not pay on this one because its not worth enough for what they have invested in their shell plan.
I cant believe they have Drage on board becuase how much is his time going to cost them.
Dont forget the Better business B folks....that attaches to the name. Of course they can change the name and we have to keep following up with new comnpaints.
The SEC actually sent a quality survey followup.
Laughing.
I said the effort they put into it suggest this is just a PR campaign and that no one will ever lift a finger as long as federal funding is not at stake.
Doesnt matter how many 10s of thousands I have paid in SEC fees....I feel I get jack shit.
Suffices to say I told them I was not satisfied because of result......but the quality of the effort.
You put in zero and get zero result.....gosh what a surprise.
Morons just sucking a great fed job and pension.
dont know jack shit.
Tell us how we really feel
Yes JT only one in 1 acct
Dude quit bein so lazy and read the board
Those that got em are now SHORT.
Long story
I got all 100 CTSO fidelity
But they had to keep working on it
Laughing,
Well a lot of 100 shares bid whacks for saying no one has roundups.
Weird as usual
Well I do think that selling in the first few months after distribution can be the better way to go on shells.
This is not a shell, this was a R/M with operating enterprise.
Much more business here than SWNE/MCII that was starting from almost scratch.
One has to look at the business.
But pretty safe to say....that $1 is too low.
$2 probably just right.
But hey hold out some and see .....I have almost never had to hit the bid with these.......even with shells only.
Most folks forget the sponsoring MM knows the free shares are out there.
He will let you sell them to him on the cheap as long as they keep coming.
Dry it up and you can get 4 plus. Even cuttin got $9
But that is why we are on other board now right Tex to keep these more quiet?
Want more of a bounce than that.
Laughing.
I have had mine for a couple of weeks.
I am not selling now.
Been my experience that they do this with all those looking for chump change....and they they bounce pretty good.
Then settle out.
I dont see any reason to expect less than $4 from this given the real business and assets.
But who really knows...its all a gamble.
Tex you have spent a good deal of time on this.
Might you fax or email that info to our lawyer buddy with the information or is this for your sample complaint that is the test mail on this matter that you plan to forward?
Tks,
If you dont know how these work than dont get in them
Thanks
Too funny,
Fidelity Re org says I am getting cashed out of my fractional share.
I said what fractional share?
Then the guy serving me at active trader says.... I dont think they will be given that amount of shares.
I said do it all the time where you been homes???
How do you even complain to FINRA I dont see how to fill it out so the complaint applies.
Dont blame you
Me too
LOL
Weird.
I was at $9 this AM all day
Yeah I understand.
That sucks man.
Well I plan on being much more careful on these.
Not going to sell my IB until my Fidelity's come in.
Safer is better
Does the company have to respond?
Yes.
Will it cost them time? Yes.
Will it cost their attorney time. Yes.
Catch my drift.
Where did you get smacked for $2k cuttin?
By the time they are done paying the attoney to respond to all of us it would be cheaper to pay us off.
Roflmao
Next time they will follow the rules and show some integrity.
LOL
Hey I got a reply from the SEC guy who called me.
Is this the same reply as previous.
I left this guy a scathing vmail message as he is with investor education that if he was going to call me to advise me against Pinks I already know but at the same time I have paid $10,000s of thousands in SEC fees over the years( actually pretty close to $100k) anyway. That I have seen tons of stuff that a moron could see was manipulation so maybe if they could pull themselves away from the free three martini lunch and actually make contact with the company and establish that they need to follow the rules on Ex-dates and divs.
I got this email instead of return call.
*********************************************************
Thank you for your email about the difficulties you are having with
your investment.
We have asked the company to address your concerns in a written report
and to provide a copy to you and us. It may take four to eight weeks
to receive a reply. After reviewing the report, please let us know if
you believe the report is misleading or does not address your concerns.
Unless you contact us again after reviewing the report, we will not
take any further action on your complaint
In the meantime, you should know that both federal and state securities
laws provide important legal rights and remedies if you have suffered
wrongdoing. Acting on your own, you may be able to resolve your
complaint through the courts. Please do not view any steps that we may take
as a substitute for taking legal action on your own: our efforts may
not produce a satisfactory result, and by law we cannot act as your
lawyer.
To take advantage of these laws, you must initiate legal action
promptly or you will lose your legal rights to recover funds. These time
restrictions, known as "statutes of limitations," vary by state, with some
states allowing more time for investors to take action than others.
The federal securities laws require that you must bring a court action
within two years of the date when you should have reasonably discovered
the wrongdoing, but in no case later than five years from the date the
wrongdoing actually occurred. Other claims under state law may have
longer statutes of limitations.
You may wish to consult a lawyer specializing in securities laws to
determine how much time is available to you to resolve your complaint
through the courts, and to determine what legal options may be available to
you in your situation.
Please go to our web site at http://www.sec.gov/answers/lawref.htm for
information on possible sources of legal assistance if you need help
finding a lawyer.
Once again, thank you for contacting us.
Sincerely,
Office of Investor Education and Advocacy
U.S. Securities and Exchange Commission
(202) 551-6317
ENTITY INFORMATION
Name: Matrix Energy Services Corp
Type: Public Company
Rep.:
Address: 378 North Main Street #124
Layton, UTAH (UT) 84041
UNITED STATES
SECURITY INFORMATION
Name: Matrix Energy Services
Symbol: MXSV
Type: Penny stocks
COMPLAINT INFORMATION
Providable Documents:
- Correspondence to and from Firm
Description:
SEC file number 000-09419
I purchased 501 shares of common stock in subject company on 11/21
based on the "Daily List" listing of a reverse split / reverse merger.
The "Ex-date" was stated 11/23
The company has retained counsel who is not trying to say retroactively
that the split with round up provision does not apply to me.
That it was shareholders of record on 9/14. Nothing anywhere said you
had to be a shareholder of record on that date on any of the DEF 14c
filings.
Please advise if I am correct that such actions are based on the
EX-Date as dicted in the Daily list.
I really need to know.
Right now I am short stock in a account and have a forced buyin as I
sold some shares based on this round up provision.
This should not take place if the SEC was enforcing rules on someone
once in a while.
I covered and so have a most of the others.
I dont think there were as many on this play as others.
But certainly more than the insider shareholder expected as he will not own majority post split anymore.
LOL
I have it.
But not selling it.
This one has some legs IMO
We are all singing to the chior.
The SEC is not getting their hands in it to my knowledge but keep up the complaints.
Also, dont forget the Nevada AG office and the BBB for complaints.
The long and short of it ....none of us is going to spend money on attorney and they know it.
So they are going to try and do nothing. And given our regulatory situation PINKS we have nothing unless some SEC stinz decides to make a call.
How hard is that....I mean for the lazy butt to actually make a call to Nathan's office.
We have everything on our side doesnt mean we win the war.
Cheers,
Yes it is clear but they still hold the cards.
So they need presure to do the right thing.
At least your SEC person seemed more on the ball than mine.
Laughing I am going to forward your reply to mine if you can provide the SEC person sending it than mine will know it was valid.
Thanks,
Robb
Keep up the fight. More complaint to SEC BBB and even the NASD since they affix the ex date.
Dont forget this is a shell folks.
Its only value is the name.
Besides all your other complaints.
Suggest you file complaint with the BBB both in Nevada and your local state since you purchased the stock as a resident of that state.
If they think they can afford to pay the attorney fix all those complaints....lol.
Paying us will be cheaper.
No value in the name .....no value as a shell.
Guess what ....truth is an absolute defense.
http://welcome.bbb.org/
I stand corrected.
I also got a call back twice today from the SEC guy handling my complaint.
I wasnt happy with his first response and I let him know it. It was a cop out.
I then asked what it is they do exactly since they differ to the accuracy of their own filings to a state?
I guess that got under his skin.
The attorney here....is going to drag his feet.
They all have our emails and understand our issues. They are just hopeful it all goes away.
I guess if we dont push the issue then what good are filings.
I will do my part and follow through with the SEC.
But I dont have anything from DRAGE that specifically responds to my request for shares.
They are playing divide and concur. The old turn them in circles.
Minds may differ.....lmao, well there is their intent and how they worded it.....can unring the bell right???
Cheers,
Unless you ASK for delivery....its not the brokerage problem.
Its yours.
And mine too...and the 60 days is up IMO.
From the DEF14C
Read and quit the endless drible here.
If you dont have the old Certs you have nothing period.
End of story quit complaining
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5493658
In order to effectuate the reverse split, each shareholder will be entitled to submit his or her old stock certificate (any certificate issued prior to the effective date of the Recapitalization and name change), to the Company's transfer agent, Securities Transfer Corporation, 2591 Dallas Parkway, Suite 102, Frisco, Texas 75034, and be issued in exchange therefor, one new certificate in the new name of the Company representing the Common Stock on a 1,000 for 1 basis, rounded up to the nearest whole share. The Company shall pay the cost of such issuance, if presented to Securities Transfer Corporation, within 60 days of October , 2007. After 60 days from the effective date, all exchange requests must be accompanied by a check payable to Securities Transfer Corporation in the amount of $20 per certificate to be issued. The Company will not pay for any additional certificates requested or for the transfer of certificates into names other than those in which the certificates are in presently. To eliminate confusion regarding the Common Stock, the Board of Directors urges the shareholders to surrender their certificates for exchange; however, shareholders are not required to do so.
I think we could have still gotten them after the R/S
But I was lazy just like you.
We snooze we lose.
But wont make the mistake again either.
If it references that you should turn in your certs "to avoid confusion" then we should do just that.
Laughing
If you want it you have to receive the shares.
Which means they are put in your name.
I doubt they will issue the certs now but its worth a try.
It was clearly stated in the DEF 14c
Yes your broker will charge a fee for doing that.
Yep .....
Pretty much
The only reason I included the info is because folks like you write the news.
You never check your facts nor do you know how to analyze it.
He was making a point that many of feel even if we dont state it....that you morons with 6 and 10 accounts have killed this as a viable opportunity.
That is all. Cuttin is right not enough money on these anymore to bother.
It was kind of fun even if you didnt need the money..... the whole 'free money' thing. It was just that .....FUN
Not so fun anymore
Now that is ignorance at its best.
I am not longer a scalping daytrader. But I used to do 200,000-800,000 shares a day back when Sunw was $100 a share.
I did over $5 billion a year in trades.
To trade $4 million in one day is not really silly.
Of a $20 stock that is 200,000 shares traded or 200 round trips of 1000
Of $100 stock that is 40 round trips or 40,000 shares.
We all knew that all the ihubers on these deals would eventually kill it.
They are learning and adapting to the problem.... now you have to turn in Certs.....so that you only get ONE round up.
Not enough money in it justify fee from broker? Then they dont have to do the round up at all.
Grow up
Exactly I want my one share
Cost them a fortune in mailing costs going forward.
roflmao
Dude all of us who were short covered yesterday.
The only folks who were in the play were ihub who read these boards.
You think that there was anyone left to cover today????
Dreaming....lol