PERT: Thanks for sharing your thoughts on this.
The comments I made were only in regard to the nature of PERT, or Pershing, LLC. rather than the intrigue that surrounded CHFI. It is understood that, as JADA management confirmed five months ago, there is no relationship with CHFI.
A few years ago, I worked for a large broker/dealer on the information systems operations side, system integration stuff, i.e. connecting heavy transactional processing systems on the back-end so that the daily, weekly, monthly processing cycles function normally. I was exposed to the kind of services that Pershing offers and it was all about processing trades and other activity on the back-end after market close rather than transacting on the front-end as market makers do. Nothing I saw indicated that Pershing offers market-making services. In my mind, PERT is only the identifier for the reconciliation system being used by the market maker(s) for a given CUSIP.
That said, it is still a question in my mind because Pershing is big enough that it may have a division that includes the market-making function in-house. Far as I know though, it would not be correct to view Pershing as the entity that is responsible for valuation at a given time, only as the processor of the transactions along with DTC, etc. I would appreciate any clarification if someone has more specific information.
Thank you and sincere best regards. Good luck to everyone interested in the continued success of the promising Jade Art Group, Inc. and its investors!
Greg