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Maybe they will, but for now eTrade is safe and Penson brokers such as Zecco will screw you in any way they can (certificate processing fees passed to customers, order sizes bigger than 10% 20-day Average Daily Volume REJECTED rendering illiquid stocks UNTRADEABLE and so).
Ah, and idiot is that who says idiocies. I speak facts.
One thing is the quality of the stock (aka utter garbage, I guess) and another the implementation of the business plan.
Setting up a Transfer Agency, then purchasing a Brokerage, then going self-clearing and then bypassing the DTCC for settlement requires quite a bit of money don't you think?.
Pinkie CEOs use the markets to RAISE MONEY; they usually don't care squat about the stock price unless they hold shares themselves.
$0.0031s taken...
Good Night
The company will likely send a proxy to investors (that would mean it'd be going the SEC reporting route which would be a big thumbs-up). On watch.
Yep, on GPGD something is cooking on behind the scenes.
TOAD, got a mail from Ron Davis of $GPGD:
I've got to take some time in order to read more on this BCIT case...
Free market? It's anything but a free market. The SEC is using the DTCC to shut down microcap markets in favor of big business.
$0.0024s taken....
It's just plain dead.
Well, that's the inside bid/ask which I can see, I mean the meat (aka market depth)!
Hey, how is GPGD L2 doing?
150k traded at $0.0008. Small volume, but the buyer got'em extremely CHEAP.
$GPGD 150k shares traded at $0.0008 bid (after days of MMs playing games); anyone L2?
The performance of the stock isn't that of the business. Look at Bebida Beverage for example: several R/S and pump & dump momo plays, DTC chilled...and yet, the company has actual products.
Sounds like a quick grower.
Personally I recommended BCAP's Transfer Agent to the guys behind the reorganization of a shell I own, currently named "Grand Pacaraima **** ***********".
The voice must be spread: if you know of any clean shell owner which wants to reverse merge it with some Chinese money laundering venture ( ) just tell 'em to go with BCAP. The more the merrier.
After all, BCAP's aim is to clear microcap transactions effectively kicking the DTCC out of the microcap markets and so ending with the BS that has been going on with the random DTC chills.
DO NOT USE ANY PENSON BROKER, period. In the case you sell a stock that has been labeled NON-DTC eligible you'll have your a$$ handed to you in a platter because trades settle in paper certs rather than electronically, and Penson passes those outrageous fees to the customer. They can be as high as $700. (check Zecco's fees for "Transfer and Ship Certificate")
So go with eTrade or Fidelity.
Might BCAP eventually use its freshly opened Transfer Agency for its own shares?
GPGD +250% on 1500 share volume! ROFLMAO who trades like that? Commissions beat the dollars.
Got a mail from Ron Davis, GPGD's IR contact. This time it was initiated by him.
I look forward to BCAP succeeding on its plan to become the company handling clearance & settlement of microcap transactions. BCAP would then kick the DTCC out of the microcap markets for good...DTC chills would be no more.
A few days ago I mailed Grand Pacaraima's IR contact in order to recommend Baron Capital as a microcap friendly Transfer Agent, just in the case the GPG* shell merges with some company.
GPGD is the only stock I own since I stopped trading OTCs .
Hope the sucker has its day, I need funds in order to trade a low priced futures contract I'm eyeing to scalp the heck out of.
Yep, I mailed Ron Davis in order to tell him how the company could get rid of the DTC chill and also to suggest using BCAP as Transfer Agent.
My email:
GPGD is reviewing an oil and gas company to merge with.
Potential OIL AND GAS merger, the company is being reviewed.
I'm looking forward to BCAP to kick the DTCC's ass out of the microcrap sector for good. They've gone way too far with their DTC chill politics and NSCC illiquid deposit requirements.
TOAD can you see how big is the bid/ask on $GPGD? A $0.0024 bid appeared out of the blue and so...IR hasn't replied to my question about whether their former Transfer Agent shareholder record keeping mess had been solved or not. GPGD has no T/A right now.
Better being charged illiquid fees than rejecting the order Penson style. Trading via phone is only a last resort option.
Lol who is buying on no info? MMs toying around?
I'm getting no replies from IR...
(reply to PM)
20-day ADV stands for 20-day Average Daily Volume; just sum the volume of the 20 previous days then divide it by 20. OTCs move in bursts of small/no-activity then explode out of thin air on high volume, whereas the 20-day average increases/decreases very slowly as it's based on the volume of previous days.
Penson-clearing brokerages such as Zecco will limit order sizes to 10% of that, which means that if the stock traded small volume before, then you're pretty much screwed since the 10% of already small volume is almost nothing. To place an order whose size is greater than 10% 20-day ADV you'd have to call 'em via phone.
BTW I've checked CBYI and it's on their NON-DTC eligible list; that means the stock has been chilled by the DTC (more often than not, it's usually due to unregistered shares roaming around in the market) and trades take place in certificates instead of electronically; transaction costs are ridiculous and can get as high as $700 per trade. That can exceed the sale proceeds! (although brokerages such as eTrade, Scotty and Fidelity absorb those costs rather to passing them to customers due to the extremely low odds of having someone trade a non-DTC stock).
Since CBYI is at $0.0001 and you haven't much money on it I guess the only way to get rid of those shares would be to use Zecco's "Non-transferable Security Removal Request" as it doesn't incur in sale costs (at least that's what a Zecco rep told me when I asked).
PD: Please use public replies, I can't PM on a free luncher account!
PD2: Good weekend to you too!
I hope it doesn't take much time for this deadbeat shell to reverse merge with some hyped up piece of sh** .