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Cool thanks.
I do think a cc would be good. Digi? Also please all for them to transcribe it.
I emailed found out that whomever already has preferred shares and subsequently obtains someone else's, does not make them eligible to convert two, if they were converting one.. They could be tracked on but not sequential. But Jokersmoker I will still take yours if you think they are worthless? Lol. I will leave them behind for generations to come.
Dump them at what bid? Don't you have to wait 6 months? I too have etrade...My thought was once the reverse happens my shares that I had would be worth little if the share price falls right away. I guess we do need to have another conference call because I did not think there was really anything to do for six months.
I don't understand...I sold all of my shares on the 21st. They said they did not care what I did with them after the 21st.
Thanks. I learn something everyday. Lol. I thought that I was to hold them for 6 months then turn it back in to the transfer agent then they would sell one share and return me a new certificate with one less share on it.
What is DRS?
I do not personally feel that your example is comparing apples to apples. The government themselves use public notices to contact people. Or not. .they say they attempted and that's all they need to do.
Good luck. .even if it is against the law they will argue as i said, that it is impossible. Especially in these pink sheet companies. In my opinion a court if it ever even gets there will rule that they made an attempt and it was up to each investor to keep track. JMO.
Thanks. IMO The paper cert discussion is a perfect example of why they made a public announcement to discuss the plan verses contact all thru their broker. Once companies via the transfer agent release the shares to the open market the company has no idea who owns them till the shares come home. They could easily be a paper cert in some safe of a person who willed it to another. Also they had to set a time limit on it or that paper cert person could show up years later.
Plus a company can authorize additional shares mighty quickly of which additional paper certs need issued.
Short of act of Congress to stop shorting, how about this solution.
Issue unique non dilutuve shares to the true long common investors. Call them preferred c. Do a reverse split, uplist to a higher stock exchange where shorts don't operate as much. Then control the re-entry of the preferred c shares back into the maket place such that it does not swamp them all at once.
On the very first sale of one preferred every who took advantage of the preferred offer does just fine and the company gets rid of a big headache. The shorts. Plus if the company starts doing well there are preferred shares to cash for a long long long time.
Sounds like a strategy that I would like to see more of the penny stocks that I have do. Some of them have very good products with very good people running them. Like Dustin? This then is thinking positive. Not to mention creative. . I like it. IMO.
The problem I see with pulling ones shares away from the broker in the form of a paper certificate is there are fees. These fees are generally high I believe. This makes penny stocks less attractive. Plus a lot of brokers will not accept the paper back into them. It has to be electronic. And if while one is holding the paper a DTC chill occurs it is impossible to deposit even electronically.
My personal feeling is that shorting should be made illegal. It is counterproductive. Struggling new companies need stabilized share prices at best. Shorting speeds up the death spiral once a company gets into it. It gives little hope of recovery. The market makers actually play both sides just to drive the price down.
Fine. I don't have an argument that it is a rule verses a bylaw. But companies do have bylaws. Companies can also talk to individual shareholders and not all. They can strike personal deals with some while leaving others out. Just depends on the situation. I do agree that whatever they do it is with the intent of benefiting all. Just does not necessarily have to be equally.
My bad. I know that I have signed a NDA with a few companies over the years. This gives me better communication and certainly some limited input. I also have personal agreements with some. I wonder if that is the reason. Anotherwords I am not sure that they have to treat all shareholders equal. It depends on the bylaws of the company and what deals have been struck. Hopefully for the good of the company of course, which then should be for the good of the shareholders. Doesn't mean it works that way. Lol.
I would like a conference call to put to rest the concerns. Please ask that they transcribe it for those who cannot attend.
It will be a good thing.
I learned about it right here.
I don't get it?
So does it have value to you?
Throw it away then?
I gotta ask did you or did you not get any of the preferred shares?
No it is you that is missing the point. If they are doing something illegal then do something about it. Posting here about it does nothing.
And so did my own daughter. I feel bad for her. I even feel somewhat responsible. I had no idea that she bought stock. The last I knew I provided a link to the CM since she its a computer wiz. But after she called them and got the same answer, I gave her the same answer. Go see an attorney or let it go. Watch your portfolio closer. Go tell others about this great new creative financing tool to strip the shorts and reward the longs. I agree it sucks to be on the outside looking in. But life us not always fair. Right? These people need to go see an attorney. But why post about it. Find the positive.
But what is the point to post about it? Does it do any good? Go do something about it. Or not. I agree I too have not seen this before. And I too am old. Lol. I too think it is odd the way it was done. But to day after day log on here and hear complaining is crazy man. If you are 66 then you know there has got to be more than this to do. Lol. I log on to get a general feel of whether everyone else thinks if a stock price its going to go up or down. And now of course if there might be some pertinent information such as this h sticker news. But to daily hear about how the company its doing things illegal or shady does no one any good. They need to go see an attorney. Or let it go.
Cool. IMO, the real way to have played this though was to wait until this completely played out. To do this to early could cause all shareholders to get nothing. except for a piece of paper. But to complain here does no good. Strategy! Good luck.
Cool and I agree. But that does not help. Everybody should go seek professional advice. To complain here is silly to me. If someone finds an attorney that is willing to take it on as a class action lawsuit then perhaps there is a chance. Otherwise most common investors would be better off letting it be a lesson to manage ones portfolio better. But complaining here does nothing.
To complain here is of little use. If you feel you have been wronged, then go do something about it. Go see your attorney.
If you or anyone else including my daughter feel that you have been incorrectly wronged then you should do something about it. Posting here does no good. Good luck to you and I hope you the best.
I'm sorry that probably sounded harsh. It was not intended. Good luck in your endeavor to be included. And to all those who also feel the same. I hope you all the best.
Good luck.
Public announcements are perfectly legal. Governments do it for back taxes. See my other post. My own daughter missed out. Does not make it illegal. Stocks are risky. Especially these penny stocks.
Huh. I never got one. I have been a long since the beginning. Back when it was a title company.
I know this. None of us have more than a piece of paper.. I will be happy to just get my money back. Lol. Investing is risky. I don't know what a company is obligated to do for the common shareholders. It depends on their bylaws.
My own daughter missed out here. I did not know she had ANDI. For her to sue them only slows the process down for me. Not to mention the expense. If thus is real then there will be plenty of time down the road to pursue. But for now this needs to play out.
Any judge would rule that one should know the risks of investing. Even the blue chips go bankrupt.
I don't know what it must be. I only know what it was. Your question was how was one to know if they did not read the message board? My answer is that they publically announced it.
It was publically posted on the OTC website.
Digi
It turns out my daughter bought shares about on April 11 and at that point was a long. So she was a share owner on May 20th. I guess I wish I would have known. Is she still eligible?
Sorry I don't know what that means.
Where did all these new posters come from?
I will be happy with my original money back. Lol. Everything above that is golden. Lol. And I got an education.
Oh so every 6 months I can sell one? I could live with that if they hold any value at all?
Well that clears things up. Lol.
So what I am really hearing its that you can't convert them even in 6 months or a year unless they let us. And that won't happen if the market won't bear it. But let's assume for a minute that the market can bear it. All total this is a greater number of common shares than even now. Much greater.
Thanks. I assume then that they give the consent forms slowly and that the company needs to be growing?
Here is what I still don't understand. Forget the price I spent for a moment. I currently have 900K common. If after this its over I will have 734 preferred. That works out to 73.4 million common. If everyone winds up with more, how is this a good thing? How is this not dilution too?