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GPGD $0.0015 ask PULLED there are no shares till $0.003.
Guys check on $GPGD someone has a limit sell at a mere $0.0015 but I can't see its depth.
GPGD offered at a ridiculous $0.0015!!! Anyone L2 on that?
33.000 shares yesterday...the buyer did a good deal there however that's insignificant volume. There wasn't much meat offered at $0.002 though, probably that was a small time seller which gave up, since at that price they're giving the stock away. A Press Release can easily send this back up to $0.015 per share.
You forgot a sucker's money merging with the pumper's wallet.
Some $GPGDs are available at $0.002s!
I'm doing so all the day in order to close the account with Zecco.
However due to the NSCC's BS that caused Penson to limit online order sizes to 10% of average daily volume, I have to place the order by phone.
I think I'll have some difficulty on speaking English as I only manage to catch some words, but I'm doing some practice with the "F**KING SELL!!!"
As thin as usual .
GPGD offered at $0.002!
$GPGD => As of August 29, Jasmine EKA Karya Ltd was formed as a result of a reorganization. If back then they were reviewing its prospect candidates, a merger might come before 2012.
GPGD bids up to $0.002, anyone can post L2 on that?
100 share trades? Someone is REALLY bored.
Latest Monday someone loaded some $GPGDs. The stock needs updated info about the merger deal!
Nearly a year since the latest update...
MB Trading (Penson) also said it's OK.
I sent a public comment to the SEC.
As of the un-chilling times, it's the first time I hear about them...
The 20-day ADV means 20-day Average Daily Volume.
Mostly the DTCC, which is playing Penny Stock Police by DTC-chilling any stock which sells unregistered shares via the 504 exemption, when it's a legal way of raising shares. Tracking frauds is the job of the SEC, not theirs.
Penson has also done some wrong moves, such as restricting online trading of a stock to 10% of the 20-day ADV which forces illiquid stocks to be traded via phone. That, however, is because in order to clear subpenny stock orders whose size is 10% 20-day ADV, the NSCC imposes outrageous deposit requirements on clearing firms until the trade is settled.
The formula to calculate the NSCC deposit requirement is (($0.01*number_of_shares)-trade_value).
As a example, to clear 3.000.000 shares of a $0.0001 stock (a trade worth $300), clearing firms must deposit $29,700 at the NSCC until the trade is settled at T+3. That requirement is plain nuts.
DTC-eligible as of Stock USA, and so...
I wrote about it to the SEC.
Zecco's reps are even messier.
Yesterday I chatted with a rep, which told me GPGD wasn't on the non-DTC list, which is updated in a intraday basis.
However, since GPGD still appears on the publically available non-DTC list from Zecco, I asked for an update via customer support chat and another rep told me the public list was updated 2 weeks ago and that they can't get an update. Telling him that information which isn't CURRENT is as good as worthless as it can change anytime didn't help. Another rep also told me they don't know the stock's tranfer agent. Holy cow.
Since updated DTC-eligibility information is critical as it involves fees, refusing to call the DTC/Penson/whoever knows its CURRENT status to "disclose material facts about an investment" is prohibited conduct by FINRA.
Trading any OTCs has turned into a russian roulette.
Small time buying, mmm. A shell player maybe?
Quick, can you please post L2 depth screen for $GPGD?
(It's for purely informational purposes, I've already warned traders over its DTC-eligibility revocation, probably due to its Transfer Agent getting busted by the SEC).
I meant today's action on $GPGD.
Yay someone selling 100 shares of a subpenny non-DTC eligible stock. I see dead people.
Rather that the GPGD guys never had put much emphasis on the stock at all. I'd however say the CEO is quite lazy. First of all they haven't kept the filings to date, nor they've PRed after Nov. 2010.
There also was a reverse split announcement in 2010 that finally was cancelled. The stock seldomly changes hands. Either they're running it as a private company, or they're waiting for some merger or so to change name/reverse split/file some stuff.
Well, I doubt any CEO steps into a transfer agent's office and says "hey, do you actually do your job"?
Heck this is a startup and they're raising money to do business.
Before National, their transfer agent was First Public Securities Transfer Inc. which was busted in 2010. The $GPGD guys aren't very lucky on picking transfer agents.
National Stock Transfer Inc. got busted by the SEC by being messy on keeping records. So they'll have to find another one.
There are a few reporting OTCQBs with such deadbeat T/A: DKAM, MTVO, SKVI and TFLG.
So the company books must be held by someone even when the T/A got busted.
So what? $GPGD doesn't appear there but that may perfectly be because the info isn't updated. $GPGD's previous T/A was "First Public Securities transfer" but that one got busted in 2010.
I think I've found out why $GPGD recently became non-DTC-eligible out of the blue.
By asking Scotty (far more helpful than Zecco on those issues) I got that $GPGD's Transfer Agent is National Stock Transfer Inc.
I then googled that TA up and I found out that in September, the SEC busted'em by being a mess on keeping records.
http://lawprofessors.typepad.com/securities/2011/09/sec-obtains-emergency-relief-against-national-stock-transfer-inc.html
If so what happens to the companies that had such T/A? Are the books taken over by another Transfer Agent and DTC-eligibility restored when it's done or what?
GPGD's transfer agent is National Stock Transfer Inc., Scottrade dixit.
3 days is nothing on illiquid stocks, there should be a 3 month WARNING call then suspension, but trading back on certs makes no sense unless there is a shady business involving raking the huge fees.
PD: What happens when you trade a stock which currently has no transfer agent? The clearing firm has to eat'em for lunch?
It's GPGD not GDGP .
"Funniest" of all, you look for GPGD at the DTCC website and nothing shows up, you've got to call/message your broker every time you want to place a trade to know it.
Meh, with this DTC bloodbath I wonder how people keep trading pennies, they've turned them into a russian roulette with five bullets in the chamber.
Add GPGD to that list, its DTC-eligibility has been revoked because the DTC felt like doing so.
As for the link to chills and so, search for "CUSIPs to be exited from CNS and blah blah blah" there:
http://www.dtcc.com/legal/imp_notices/nscc/2011.php (you can change the year)
How strange, someone bid up $0.0014s out of thin air. Can you see L2?
While I won't trade this one yet, I look forward for those folks to get the freakin paperwork done cos playing on certs isn't funny.
A Zecco rep told me GPGD has no Transfer Agent, gotta confirm that.
$MIKP got DTC-chilled a few days ago...that implies the stock trades on certs right?