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I would be very pleased If we hold a .70 bid
Then someone sold 7k exhausting
Wow someone just picked up 9k
Dear community,
We are pleased to update you on the significant progress achieved in multiple areas of our development over the period of the past month.
Acknowledging the unfortunate slight delay in the ultimate release of CorePass ID and Ping Exchange is a challenging subject to tackle, albeit necessary to maintain transparency. While we sincerely apologize for any inconvenience this may have caused and empathize with the community’s understandable frustration, it shall be acknowledged that the primary factor impeding the release is presently beyond our control.
That being said, let us delve into the primary reason behind this delay and dissect the remaining adjustments necessary to ensure a flawless launch.
Current iOS Situation with Regard to CorePass🔄
Below, find updates on the status of the CorePass ID app approvals. While the Google Store approval remains in place, the iOS store has presented our developers with a considerable volume of feedback, which they’ve been diligently addressing.
We understand that the iOS team prioritizes user experience and UX/UI, and while this is commendable, it has inevitably slowed down progress for other teams and the ultimate releases of CorePass ID and Ping Exchange.
However, our initial stance still holds true. We’re committed to ensuring that the app is accessible to the entire community. Releasing it to only one platform wouldn’t be equitable for users and potential traders, given that accessing Ping Exchange is contingent on CorePass login. Given the extensive revisions requested by the iOS Store, we’re preparing a resubmission, which we anticipate will be submitted within approximately a week’s time.
The tweaks required for the application will also result in submitting an update for the Google Store, which is expected to grant approval rather smoothly, yet could prove to cause an extra day’s delay. Naturally, this process is of great importance to ensure that both the iOS and Google Store versions of the app are identical.
Due to the confidentiality of information exchange with iOS, we cannot specify the issues and subsequent changes, but we can bring you a general list of the tweaks to the CorePass ID application and developer updates:
Fixed an issue in P2P communications that caused errors in P2P data transfers.
Fixed image flicker problem in the document detail images page.
Appropriated checks for document validity from multiple single requests to a batch request.
Added English transliterations to document full names and address details.
Changed the name of the field “state” into “division” to be compatible with different countries.
Renamed “friends” to “contacts” to reflect the tone of the application.
Added PDF support for POA.
Added compatibility for the new connector.
Added DateTime check for the app.
Fixed a bug that caused data to be saved multiple times.
Fixed showing insufficient funds at the bottom sheet.
The application has also now been translated into a multitude of languages, which currently include: Slovak, Czech, German, Dutch, Turkish, Chinese (traditional and simplified), Japanese, Italian, French, Hungarian, Spanish, and Russian.
Languages currently being translated or in translator negotiations entail Portuguese, Brazilian Portuguese, and Finnish.
Advances in Ping Exchange Alpha✅
On a more positive note, the delays and proceedings with the iOS Store allowed our developers to perfect the Ping Exchange platform and bring forth several updates:
Compliance verification steps for the users now include different tiers of users and document verification flows.
A compliance dashboard has been utilized for the compliance officers.
The ability to transfer funds between Ping accounts has been added.
Notification services have been tweaked to notify specific users. Prior notifications were only used for notifying users of approving signatures.
Increased load handling on the market data to be able to handle thousands of users per second.
Infrastructure changes to make the system more reliable and scalable.
Testing Statistics
Apart from the technical advances on the platform, the testing of the general public has been continuing, bringing astonishing results.
Thus far, the statistics confirm 103K of total executions and 45.2K of total trading orders initiated on the platform. 33.9K trading orders in total have been successfully completed and 10.1K canceled. At the moment, we have also registered 743 working orders. 568 trades have been rejected.
The top five markets are represented by XCB/CTN emerging as the leader of the chart with 22.7K orders, followed by the XCB/USDT market with 20.2K orders finished. The 3rd, 4th, and 5th places are occupied by, respectively, CTN/USDT (526 orders), CTN/ETH (473 orders), and XCB/ETH (470 orders).
The majority of the transfer types have been Deposits with 92.56%.
Core Ecosystem and Developers’ Performance🚀
To those of you who like to dip your toes into technical matters and development, we are bringing some very exciting numbers about the Core ecosystem, showcasing the active participation of the team on the numerous projects.
The monthly statistics indicate all project activities, especially Ping, CorePass, and Ting (which are the most active projects).
Within the past twelve months, the team has recognized 4,991 merge requests. Merge Requests show monthly developers’ activity on shipping new features and bug fixes to the different environments on all projects (for instance, the new NFT purchasing mechanism in CorePass or fixing UI issues in the Trading WebApp of Ping).
CI/CD Pipelines show numbers of new deployments on different environments, such as the new version of the notification service of Ping in the Testnet environment. Within the past year, there have been 15,001 of them.
CI/CD Jobs, of which there have been a staggering 63,532 in the last twelve months, show the cumulative number of jobs in said pipelines. Due to the complexity of environments for building and deployment, we put multiple Jobs in pipelines (for example, the CI job of building a new version of the login service in CorePass or the CD job of deploying it).
Scrutinizing Content, Company Testing, and Merchandise👕
Getting Our Websites Ready
Our team has been tirelessly engaged in an extensive review of various Core websites and their content, diligently ensuring that every detail is meticulously dissected. This dedicated effort aims to guarantee that not a single error escapes our attention and that the websites are optimized to be as responsive as possible.
Moreover, our team is implementing a comprehensive quality assurance protocol to assess the performance across different devices and platforms. This multi-faceted approach ensures that the websites perform optimally regardless of the user’s chosen device or browsing environment.
In addition to error-checking, we’re also working diligently to enhance the accessibility features of the websites. This includes fine-tuning aspects such as font sizes, color contrasts, and navigation options to ensure that all visitors, regardless of their specific needs, can engage with the content effortlessly.
Going into the Biggest Worldwide Internal Testing of CorePass and Ping Exchange
In terms of the ultimate release, we’re pleased to share that the entire office along with the employees around the world is gearing up for a meticulous evaluation of both the application and the exchange. This comprehensive final testing phase has already started this week.
The testing will consist of two stages, the first internal testing will take place with the participation of all employees based in the CoDeTech headquarters. The next round of testing will be more extensive and global, in which hundreds of developers, designers, analysts, and other Core team members will participate.
The scrutiny has already begun with a rigorous examination of CorePass, which involves subjecting every aspect of the application to a battery of tests, encompassing usability, security, and compatibility with a range of devices and operating systems.
Subsequently, our focus will shift to the evaluation of Ping Exchange, applying the same exacting standards of scrutiny. This phase aims to ascertain that the exchange platform operates with utmost efficiency, providing users with a reliable and user-friendly experience.
With this comprehensive testing initiative, we’re taking every measure to ensure that our offerings meet the highest standards of quality and reliability before they reach your hands.
Preparing Merchandise
We’re delighted to have shared that XCB and CorePass will soon have their own exclusive merchandise, featuring unique designs crafted by our talented design team.
Furthermore, we extended a special opportunity to our community members, allowing you to have a say in the selection of designs that will adorn T-shirts, hoodies, hats, and other yet-to-be-revealed clothing items. Your input has played a pivotal role in shaping the distinctive look of these merchandise pieces, creating a tangible connection between you and our innovative products.
TOP3 Most Voted CorePass Merch Designs
TOP3 Most Voted XCB Merch Designs
Thank You
We are immensely grateful for your unwavering support and patience throughout our journey. We can assure you that we are doing everything in our power to sail this ship to the shore. Together, we are shaping a future where seamless authentication and dynamic exchange are at your fingertips.
We will bring you further updates heading up to the release on our social media platforms. We also aim to announce the final release date within the next few weeks.
https://medium.com/codetech/progress-report-corepass-ping-testing-stats-and-more-044d86860769
Insiders Join CEO in Providing an Additional $2 Million Funding to Genius Group
October 25, 2023 9:29am EDT
Download as PDF
SINGAPORE, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a leading entrepreneur edtech and education group, announces today that following the recent announcement that Genius Group’s CEO, Roger James Hamilton, is providing the company with up to $4 million in funding, the Company has received notice of additional funding from executives within Genius Group.
Senior executives and shareholders in Genius Group, which include founders of a number of the companies acquired by Genius Group in 2022 and 2023, together with other senior executives of the Company, are providing additional funding amounting to approximately $2 million in the form of both interest free loans and earnings converted to equity.
CEO of Genius Group, Roger Hamilton, said “I am pleased and grateful that executives and insiders of our company are joining me in their commitment to the long term success of our group. We are jointly committed to ensuring we have the resources internally to grow Genius Group, our Edtech platform and AI / VR technology towards our mission of transforming education. With this additional support from our team, we have time to carefully consider the right investors that share our mission to join us in our growth path.”
About Genius Group
Genius Group is a leading entrepreneur Edtech and education group, with a mission to disrupt the current education model with a student-centered, life-long learning curriculum that prepares students with the leadership, entrepreneurial and life skills to succeed. Through its learning platform, GeniusU, the Genius Group has a member base of 5.4 million users in 200 countries, ranging from early age to 100.
For more information, please visit https://www.geniusgroup.net/
Nice block buy 576k @.271
Looking forward to this Thursday
Sure glad I picked up more yesterday
Bought more
GREAT POST!!! Must read!!! Thanks jaig
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173069172
I’m 100% focused on the long term success of #GeniusGroup. Today the $GNS Board put a performance plan in place to achieve $1 Billion Market Cap. In 10 yrs or less. Focus is on building value long term value vs those willing to destroy value short term
— Roger James Hamilton (@rogerhamilton) October 20, 2023
LINK> Genius Group Board… pic.twitter.com/IwyTzm4Yfg
SINGAPORE, October 20, 2023 – Entrepreneur Resorts Ltd (MERJ: ERL) (“ERL” or the “Company”), a world leading group of entrepreneur resorts and entrepreneur beach clubs, where entrepreneurs co-work, co-learn, co-live and co-give in paradise locations around the world, announces today its upcoming earnings call and investor meeting with Founder & CEO, Roger Hamilton, together with the results of the Share Count following the Spinoff of Genius Group Ltd (NYSE American: GNS).
ERL completed the spinoff of from Genius Group on October 2nd, 2023. ERL and Genius Group began operating and trading as two separate entities since that date.
Shareholders can access ERL investor information on the ERL Investor Relations website. ERL will now also hold separate regular shareholder meetings to inform shareholders of the latest corporate news, beginning with the ERL Earnings Call.
The earnings call will be a virtual meeting held as a YouTube Livestream, and will include:
Details of the spinoff and results of the share count process
An overview of ERL for new investors who received shares in ERL as part of the spinoff
Reminder of the process to receive shares in ERL for all eligible share holders
Earnings report for ERL and guidance for full year 2023
Plans and prospects for ERL future growth
This earnings call and investor meeting is the first in ERL’s ongoing commitment to a consistent level of ongoing investor communications to all its shareholders.
All shareholder questions need to be submitted in advance to the email address:
investor@entrepreneurresorts.com
Webcast Information:
Time: Thursday, October 26, 2023, at 7:00 p.m. ET
Webcast: We will livestream the investor call on YouTube on the following link.
An archived replay of the presentation will be available on Entrepreneur Resorts Investor Page and on YouTube on the above link.
Entrepreneur Resorts CEO, Roger Hamilton, said “We are pleased to announce the first investor meeting for Entrepreneur Resorts as a separate public listed company from Genius Group since the spinoff. Entrepreneur Resorts has been experiencing extremely solid growth, with revenues up 65% for the first half of 2023 with healthy profit and positive EBITDA. We welcome all new shareholders to attend our upcoming call to hear of our current performance and future plans with our unique co-working, co-learning resort and beach café model.”
SINGAPORE, October 18, 2023 - Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a leading entrepreneur edtech and education group, today announced the addition of Salim Ismail and Eric Pulier to the Genius Group Board. These two business leaders bring extensive knowledge and experience in exponential technologies, including AI, VR, Web3 and the technologies central to the company’s Edtech growth plans.
Salim Ismail is the lead author of international bestseller “Exponential Organizations” and “Exponential Organisations 2.0, The New Playbook for 10x Growth & Impact”, recently published following the launch of ChatGPT and the new age of AI. Salim is also the Founder of ExO Works and OpenExO. His ExO model has been implemented in Fortune 500 companies, institutions and governments to build entrepreneurial, high growth teams utilising the latest disruptive technologies and practices.
Salim is on the Board of XPRIZE Foundation, which uses large-scale global incentive competitions to crowdsource solutions to the world’s grand challenges. These include multi-million dollar, high profile competitions from the $10 million Ansari XPRIZE for private spaceflight to the $15 million Global Learning XPRIZE to the $100 million Carbon Removal XPRIZE funded by Elon Musk.
Salim is also Founding Executive Director of Singularity University and co-founded of a number of tech companies (Confabb, PubSub Concepts and Angstro, acquired by Google in 2010) and was Head of Brickhouse, Yahoo!’s internal incubator for new products.
Salim brings his expertise in consulting with and building exponential organisations to Genius Group, which was itself founded using the 11 principles of the ExO model.
On being appointed to Genius Group’s Board, Salim Ismail said “Within our ExO model, we define an Exponential Organization as one whose impact or output is disproportionately large - at least 10x larger - compared to its peers because of the use of new organization techniques that leverage accelerating technologies. Since first meeting with Roger Hamilton a decade ago, I’ve seen him launch and grow Genius Group using the ExO model, and I’m now excited to be joining the Board as the company harnesses today’s exponential technologies to transform education.”
Eric Pulier is the CEO and Founder of Vatom Inc, the world’s leading enterprise grade human engagement platform. Pulier has raised over one billion dollars for ventures he has founded or co-founded, for pioneering initiatives in internet professional services, API management, open source, service architectures, cloud computing, and virtual spaces. In 2015, Mr. Pulier proposed and built the world’s first programmable non-fungible token (Vatom Smart Assets) and proposed a roadmap for blockchain-based digital objects to become the future of human engagement. Eric has also served as a member of the X Prize Innovation Board, Board of the Painted Turtle, and co-creator of Starbright World—an early metaverse for kids with serious illnesses.
The Vatom Platform leverages AI, gamification, virtual spaces, and a consumer-friendly digital asset wallet, to power Genius Group’s Genius Metaversity, with plans for AI NPCs (Non-Player-Characters) that can accompany and interact with explorers in mixed reality.
On joining the Genius Group Board, Eric Pulier said “Education is one of the best applications of the next generation of artificial intelligence, dynamic digital objects, virtual reality and augmented reality. With the rapid development in the speed with which Generative AI can create new environments, and conduct real-time personalized conversations, it’s only a matter of time before Edtech companies that fully embrace this new world will disrupt the current education system at scale. I’m excited to be joining the Genius Group board at this pivotal moment, and I share Roger’s and the Genius team’s commitment to revolutionizing the future of learning.”
Roger Hamilton, CEO of Genius Group said “I am extremely happy to be welcoming Salim and Eric to the Genius Group Board. They are two extraordinary leaders who share our mission of preparing students, leaders, entrepreneurs and organisations for the fast changing future ahead of us. Finding experts versed in the latest exponential technologies who have extensive experience as both entrepreneurs and investors, together with stellar reputations and a purpose-driven mindset is extremely difficult. To be welcoming two such experts to our Board at the same time is fantastic, and very timely based on our growth plans.”
Salim Ismail and Eric Pulier replace Nic Lim and Anna Gong, who are stepping down from the Genius Group Board. The Board approved the new members and resignations at its Board Meeting on 16 October 2023.
About Genius Group
Genius Group is a leading entrepreneur Edtech and education group, with a mission to disrupt the current education model with a student-centered, life-long learning curriculum that prepares students with the leadership, entrepreneurial and life skills to succeed. Through its learning platform, GeniusU, the Genius Group has a member base of 5.4 million users in 200 countries, ranging from early age to 100.
Thanks for the updates
Is This The End Of Naked Short Selling?
By James Stafford - Oct 16, 2023, 6:01 PM CDT
American investors have been taken for a trillion-dollar ride by naked short sellers, in what could turn out to be the biggest financial regulatory scandal in North American history.
While what is now an all-out war on naked short sellers intensifies, there is a new flashpoint on the front line–a potentially devastating ruling targeting those who are alleged to make illegal naked short selling possible: The Facilitators: bankers and brokers.
On September 29, Federal District Court Judge Lorna Schofield of the Southern District of New York issued a ruling that has the potential to significantly disrupt Wall Street compliance, and is a major first step towards protecting retail investors from fraud.
In Harrington Global Opportunity Fund Ltd. v. CIBC World Markets, Inc et.al, Judge Schofield found that broker-dealers may be primarily liable for manipulative trading initiated by their customers because they serve as “gate-keepers” of trading on securities exchanges.
These broker-dealers have a “continuing responsibility to ensure that their customer’s order flow ... is in compliance with all applicable rules, regulations and laws and detect and prevent manipulative or fraudulent trading … under the supervision and control of the firm,” the judge ruled.
The defendants in the case had motioned to dismiss Harrington’s claims of market manipulation and spoofing (when traders place market orders and then cancel them before the order is ever fulfilled, manipulating prices in the meantime). Judge Schofield denied the motion after hearing arguments that broker-dealers are not responsible for “their customers’ trading”.
Instead, the ruling recognizes that not only are broker-dealers the gate-keepers who can enable illegal naked short selling, but they are responsible, and thus liable for their customers’ actions. Schofield described broker-dealers as “reckless in not knowing that the trades being executed at their customers’ direction were manipulative”.
Naked Short Selling: ‘Financial Weapons of Mass Destruction’
Naked shorting creates a dangerous minefield for retail investors. But it’s a minefield that dealer-brokers may now be held liable for thanks to the recent ruling.
Short-selling itself isn’t illegal. In order to legally sell a stock short, traders must first secure a borrow against the shares they intend to sell. Where the September 29 ruling comes into play is at the point of the broker-dealer. Any broker who enters into a stock short on behalf of a trader must have assurances that his client will make a settlement.
As opposed to a “long” sale (where the seller owns the stock), a “short” sale can be either “covered” or “naked”.
If it’s covered, then there is no issue: the short seller has already borrowed or arranged to borrow the shares when the short sale is made.
When things get naked, the regulatory environment becomes riddled with compliance holes. With a naked short, the short seller is selling shares it doesn’t own and has made no arrangements to buy. That means the seller cannot cover or “settle” in this instance. More profoundly, it means they are selling ghost shares that simply do not exist without their further action. The ability to sell an unlimited number of non-existent shares in a publicly-traded company gives a short seller the ultimate power: To destroy and manipulate a company’s share price at will.
This illicit practice artificially dilutes share prices and then companies find themselves in a position where they have to scramble for capital, Bryan Barkley points out in in-depth research published by the Medium.
That scramble then leads to shareholder dilution in more capital raises, in the best cases, and bankruptcy, in the worst cases. If things get to bankruptcy, Barkley writes, then short sellers win big because they no longer need to close out their short positions.
Following the 2008/2009 financial crisis, naked short selling was classified as illegal in the United States, though that labeling has done nothing to thwart this lucrative game.
What makes the September ruling so impactful is this: Without the big banks and financial institutions’ complicity, this highly destructive form of naked short selling could never happen. Instead, they actively facilitate the destruction of shareholder value.
The reason some big banks allow it, despite their sizable compliance departments, appears quite simple: These illegal transactions are highly lucrative. The short-term windfall profits associated with the creation of counterfeit shares are too tempting to resist.
“[...] brokers will place a marker or pledge to deliver the shares on the investors’ accounts, which are made by the seller’s clearing firm”, Barkley explains. “Abusive and unchecked naked shorting can lead to a loss of shareholder rights, including disenfranchisement by overvoting and the resulting throwing out of votes by brokers to conceal the breadth of the naked shorting problem, which could also lead to fraudulent vote results orchestrated by broker-dealers instead of shareholders.”
It often goes well beyond “ghost” shares, too. The most nefarious of short sellers target companies with negative reports–sometimes with legitimate information, and sometimes with falsehoods or half-truths–to drive down share prices with maximum impact, thus ensuring that the companies lose their ability to obtain financing. Once that process is completed, naked shorters then begin to offer those same companies alternative financing (predatory debt), which they have no option but to accept.
When broker-dealers are complicit in this, the system is broken. And complicity takes many forms, including willful booking of client shares as “long” when they are actually “short”.
Gaps in the regulatory environment have continued to fail to subdue these illegal activities.
Keeping the Brokers in Check: A Global Loophole
Even before the 2008/2009 financial crisis, there were measures in place intended to protect retail investors and regulate the activities of brokers with respect to short selling.
The SEC’s Regulation SHO took effect in January 2005 and specifically targeted “persistent failures to deliver and potentially abusive ‘naked’ short selling”. Amendments intended to further strengthen these regulations were added in 2008, and in 2010, the SEC adopted Rule 201, restricting the price at which short sales could be made when a stock was experiencing significant downside pressure.
Additionally, the SEC notes:
Rule 204 requires firms that clear and settle trades to deliver securities to a registered clearing agency for clearance and settlement on a long or short sale in any equity security by the settlement date or to take action to close out failures to deliver by borrowing or purchasing securities of like kind and quantity by no later than the beginning of regular trading hours on the settlement day following the settlement date for short sale fails, or no later than at the beginning of trading hours on the third settlement day following the settlement date for long sale fails, and fails attributable to bona fide market making (“close out date”). If a firm that clears and settles trades has a failure to deliver that is not closed out by the beginning of regular trading hours on the applicable close-out date, the firm has violated Rule 204 and the firm, and any broker-dealer from which it receives trades for clearance and settlement, is subject to the pre-borrow requirement for that security.
However, as Barkley points out, the SEC does not publish FTDs (failures-to-deliver) of U.S.-issued securities traded and settled abroad (including Canada). This means a significant number of FTDs are never accounted for, essentially creating a naked free-for-all.
Last year, UBS Securities LLC conceded to having failed to close out an astounding 5,300 FTDs in the previous decade, yet still kept executing new short sales in the tens of thousands.
“This is naked shorting and FTD abuse on a significant scale, likely involving many billions of dollars,” Barkley writes.
UBS was fined $2.5 million for violating Regulation SHO. Shareholders were left holding the empty bag, though. And likely lost billions of Dollars in the process.
Also last year, Gar Wood Securities LLC was fined for accepting 2,000 short sale orders without the third-party brokers having located the securities they were borrowing against. Gar Wood was fined $100,000 (which is pathetic).
More recently, in August this year, California-based Wedbush Securities Inc. was fined $6 million by the CTFC (Commodity Futures Trading Commission) for failing to “supervise” trades from third-party brokers, and for dubious private communications. Separately, Wedbush was fined another $10 million by the SEC. And thirdly, in relation to failure to close out FTDs, Wedbush was fined a mere $975,000, a sum that appears to be simply the cost of doing business in the naked short arena.
With regard to violations of Regulation 204, a NYSE American LLC waiver notes:
During the Relevant Periods, the Firm failed to timely close out approximately 2,056 FTD positions due to the Firm failing to timely borrow shares, recall shares that were out on loan or otherwise acquire shares and deliver them in accordance with the requirements of Rule 204(a).
During the period between January 1, 2016 through July 31, 2020, on approximately 390 occasions, the Firm further failed to place a security in the penalty box as required by Regulation SHO Rule 204(b) and to send the notice required by Regulation SHO Rule 204(c).
Additionally, in December 2020, Canadian Cormark Securities Inc and two others pinged the SEC’s radar, with the SEC instituting cease-and-desist orders against Cormark and settling charges against Cormark and two other Canada-based broker-deals for “providing incorrect order-making information that caused an executing broker’s repeated violations of Regulation SHO”. According to the SEC, Cormark and ITG Canada caused more than 200 sale orders from a single hedge fund to the tune of more than $660 million (between August 2016 and October 2017) to be mismarked as “long” when they were, in fact, “short”—a clear violation of Regulation SHO. Cormark agreed to pay a penalty of $800,000, while ITG Canada—one of the other broker-dealers charged—agreed to pay a penalty of $200,000.
The Heroes of the Day
The plaintiffs in In Harrington Global Opportunity Fund Ltd. v. CIBC World Markets, Inc et.al, represented by Warshaw Burstein, LLP, have every reason to celebrate.
The judge’s ruling categorically means that going forward, big banks and financial institutions won’t just be fined for not actively closing shorts, they could be held liable for what so far has been an estimated trillion dollars in losses to retail investors, companies and the U.S. government.
“Brokers can no longer claim that they are not liable for their customers’ trading activities because they are only following their directions. A broker can now be held primarily liable under the federal securities laws when they recklessly fail to monitor, detect and prevent the manipulative or fraudulent trading of their customers,” Warshaw Burstein said in a statement following the judge’s September 29 ruling.
“This decision is a clear and unambiguous warning to broker-dealers that unless they fulfill their gate-keeper responsibilities of monitoring their customers’ trading they can be held primarily liable for their client’s manipulative conduct,” the law firm added.
Canada is one venue where this warning should be heeded first and foremost and where naked short sellers have in our view been fleecing U.S. retail investors and companies for years, taking advantage of a loophole that only requires them to have a “reasonable expectation” of settling a trade, without actually borrowing the stock. The U.S. September ruling adds further fire to a slower-moving regulatory crackdown in Canada by the OSC and the other regulatory authorities.
The game of capital market destruction is now hopefully coming to an end, and this latest ruling hopefully marks the beginning of the end. There is still a long way to go and this really should be front page news, but the banks are brokers have big marketing budgets so i imagine there will be very little coverage on this important news for investors in North America.
Is This The End Of Naked Short Selling?
By James Stafford - Oct 16, 2023, 6:01 PM CDT
American investors have been taken for a trillion-dollar ride by naked short sellers, in what could turn out to be the biggest financial regulatory scandal in North American history.
While what is now an all-out war on naked short sellers intensifies, there is a new flashpoint on the front line–a potentially devastating ruling targeting those who are alleged to make illegal naked short selling possible: The Facilitators: bankers and brokers.
On September 29, Federal District Court Judge Lorna Schofield of the Southern District of New York issued a ruling that has the potential to significantly disrupt Wall Street compliance, and is a major first step towards protecting retail investors from fraud.
In Harrington Global Opportunity Fund Ltd. v. CIBC World Markets, Inc et.al, Judge Schofield found that broker-dealers may be primarily liable for manipulative trading initiated by their customers because they serve as “gate-keepers” of trading on securities exchanges.
These broker-dealers have a “continuing responsibility to ensure that their customer’s order flow ... is in compliance with all applicable rules, regulations and laws and detect and prevent manipulative or fraudulent trading … under the supervision and control of the firm,” the judge ruled.
The defendants in the case had motioned to dismiss Harrington’s claims of market manipulation and spoofing (when traders place market orders and then cancel them before the order is ever fulfilled, manipulating prices in the meantime). Judge Schofield denied the motion after hearing arguments that broker-dealers are not responsible for “their customers’ trading”.
Instead, the ruling recognizes that not only are broker-dealers the gate-keepers who can enable illegal naked short selling, but they are responsible, and thus liable for their customers’ actions. Schofield described broker-dealers as “reckless in not knowing that the trades being executed at their customers’ direction were manipulative”.
Naked Short Selling: ‘Financial Weapons of Mass Destruction’
Naked shorting creates a dangerous minefield for retail investors. But it’s a minefield that dealer-brokers may now be held liable for thanks to the recent ruling.
Short-selling itself isn’t illegal. In order to legally sell a stock short, traders must first secure a borrow against the shares they intend to sell. Where the September 29 ruling comes into play is at the point of the broker-dealer. Any broker who enters into a stock short on behalf of a trader must have assurances that his client will make a settlement.
As opposed to a “long” sale (where the seller owns the stock), a “short” sale can be either “covered” or “naked”.
If it’s covered, then there is no issue: the short seller has already borrowed or arranged to borrow the shares when the short sale is made.
When things get naked, the regulatory environment becomes riddled with compliance holes. With a naked short, the short seller is selling shares it doesn’t own and has made no arrangements to buy. That means the seller cannot cover or “settle” in this instance. More profoundly, it means they are selling ghost shares that simply do not exist without their further action. The ability to sell an unlimited number of non-existent shares in a publicly-traded company gives a short seller the ultimate power: To destroy and manipulate a company’s share price at will.
This illicit practice artificially dilutes share prices and then companies find themselves in a position where they have to scramble for capital, Bryan Barkley points out in in-depth research published by the Medium.
That scramble then leads to shareholder dilution in more capital raises, in the best cases, and bankruptcy, in the worst cases. If things get to bankruptcy, Barkley writes, then short sellers win big because they no longer need to close out their short positions.
Following the 2008/2009 financial crisis, naked short selling was classified as illegal in the United States, though that labeling has done nothing to thwart this lucrative game.
What makes the September ruling so impactful is this: Without the big banks and financial institutions’ complicity, this highly destructive form of naked short selling could never happen. Instead, they actively facilitate the destruction of shareholder value.
The reason some big banks allow it, despite their sizable compliance departments, appears quite simple: These illegal transactions are highly lucrative. The short-term windfall profits associated with the creation of counterfeit shares are too tempting to resist.
“[...] brokers will place a marker or pledge to deliver the shares on the investors’ accounts, which are made by the seller’s clearing firm”, Barkley explains. “Abusive and unchecked naked shorting can lead to a loss of shareholder rights, including disenfranchisement by overvoting and the resulting throwing out of votes by brokers to conceal the breadth of the naked shorting problem, which could also lead to fraudulent vote results orchestrated by broker-dealers instead of shareholders.”
It often goes well beyond “ghost” shares, too. The most nefarious of short sellers target companies with negative reports–sometimes with legitimate information, and sometimes with falsehoods or half-truths–to drive down share prices with maximum impact, thus ensuring that the companies lose their ability to obtain financing. Once that process is completed, naked shorters then begin to offer those same companies alternative financing (predatory debt), which they have no option but to accept.
When broker-dealers are complicit in this, the system is broken. And complicity takes many forms, including willful booking of client shares as “long” when they are actually “short”.
Gaps in the regulatory environment have continued to fail to subdue these illegal activities.
Keeping the Brokers in Check: A Global Loophole
Even before the 2008/2009 financial crisis, there were measures in place intended to protect retail investors and regulate the activities of brokers with respect to short selling.
The SEC’s Regulation SHO took effect in January 2005 and specifically targeted “persistent failures to deliver and potentially abusive ‘naked’ short selling”. Amendments intended to further strengthen these regulations were added in 2008, and in 2010, the SEC adopted Rule 201, restricting the price at which short sales could be made when a stock was experiencing significant downside pressure.
Additionally, the SEC notes:
Rule 204 requires firms that clear and settle trades to deliver securities to a registered clearing agency for clearance and settlement on a long or short sale in any equity security by the settlement date or to take action to close out failures to deliver by borrowing or purchasing securities of like kind and quantity by no later than the beginning of regular trading hours on the settlement day following the settlement date for short sale fails, or no later than at the beginning of trading hours on the third settlement day following the settlement date for long sale fails, and fails attributable to bona fide market making (“close out date”). If a firm that clears and settles trades has a failure to deliver that is not closed out by the beginning of regular trading hours on the applicable close-out date, the firm has violated Rule 204 and the firm, and any broker-dealer from which it receives trades for clearance and settlement, is subject to the pre-borrow requirement for that security.
However, as Barkley points out, the SEC does not publish FTDs (failures-to-deliver) of U.S.-issued securities traded and settled abroad (including Canada). This means a significant number of FTDs are never accounted for, essentially creating a naked free-for-all.
Last year, UBS Securities LLC conceded to having failed to close out an astounding 5,300 FTDs in the previous decade, yet still kept executing new short sales in the tens of thousands.
“This is naked shorting and FTD abuse on a significant scale, likely involving many billions of dollars,” Barkley writes.
UBS was fined $2.5 million for violating Regulation SHO. Shareholders were left holding the empty bag, though. And likely lost billions of Dollars in the process.
Also last year, Gar Wood Securities LLC was fined for accepting 2,000 short sale orders without the third-party brokers having located the securities they were borrowing against. Gar Wood was fined $100,000 (which is pathetic).
More recently, in August this year, California-based Wedbush Securities Inc. was fined $6 million by the CTFC (Commodity Futures Trading Commission) for failing to “supervise” trades from third-party brokers, and for dubious private communications. Separately, Wedbush was fined another $10 million by the SEC. And thirdly, in relation to failure to close out FTDs, Wedbush was fined a mere $975,000, a sum that appears to be simply the cost of doing business in the naked short arena.
With regard to violations of Regulation 204, a NYSE American LLC waiver notes:
During the Relevant Periods, the Firm failed to timely close out approximately 2,056 FTD positions due to the Firm failing to timely borrow shares, recall shares that were out on loan or otherwise acquire shares and deliver them in accordance with the requirements of Rule 204(a).
During the period between January 1, 2016 through July 31, 2020, on approximately 390 occasions, the Firm further failed to place a security in the penalty box as required by Regulation SHO Rule 204(b) and to send the notice required by Regulation SHO Rule 204(c).
Additionally, in December 2020, Canadian Cormark Securities Inc and two others pinged the SEC’s radar, with the SEC instituting cease-and-desist orders against Cormark and settling charges against Cormark and two other Canada-based broker-deals for “providing incorrect order-making information that caused an executing broker’s repeated violations of Regulation SHO”. According to the SEC, Cormark and ITG Canada caused more than 200 sale orders from a single hedge fund to the tune of more than $660 million (between August 2016 and October 2017) to be mismarked as “long” when they were, in fact, “short”—a clear violation of Regulation SHO. Cormark agreed to pay a penalty of $800,000, while ITG Canada—one of the other broker-dealers charged—agreed to pay a penalty of $200,000.
The Heroes of the Day
The plaintiffs in In Harrington Global Opportunity Fund Ltd. v. CIBC World Markets, Inc et.al, represented by Warshaw Burstein, LLP, have every reason to celebrate.
The judge’s ruling categorically means that going forward, big banks and financial institutions won’t just be fined for not actively closing shorts, they could be held liable for what so far has been an estimated trillion dollars in losses to retail investors, companies and the U.S. government.
“Brokers can no longer claim that they are not liable for their customers’ trading activities because they are only following their directions. A broker can now be held primarily liable under the federal securities laws when they recklessly fail to monitor, detect and prevent the manipulative or fraudulent trading of their customers,” Warshaw Burstein said in a statement following the judge’s September 29 ruling.
“This decision is a clear and unambiguous warning to broker-dealers that unless they fulfill their gate-keeper responsibilities of monitoring their customers’ trading they can be held primarily liable for their client’s manipulative conduct,” the law firm added.
Canada is one venue where this warning should be heeded first and foremost and where naked short sellers have in our view been fleecing U.S. retail investors and companies for years, taking advantage of a loophole that only requires them to have a “reasonable expectation” of settling a trade, without actually borrowing the stock. The U.S. September ruling adds further fire to a slower-moving regulatory crackdown in Canada by the OSC and the other regulatory authorities.
The game of capital market destruction is now hopefully coming to an end, and this latest ruling hopefully marks the beginning of the end. There is still a long way to go and this really should be front page news, but the banks are brokers have big marketing budgets so i imagine there will be very little coverage on this important news for investors in North America.
Is This The End Of Naked Short Selling?
By James Stafford - Oct 16, 2023, 6:01 PM CDT
American investors have been taken for a trillion-dollar ride by naked short sellers, in what could turn out to be the biggest financial regulatory scandal in North American history.
While what is now an all-out war on naked short sellers intensifies, there is a new flashpoint on the front line–a potentially devastating ruling targeting those who are alleged to make illegal naked short selling possible: The Facilitators: bankers and brokers.
On September 29, Federal District Court Judge Lorna Schofield of the Southern District of New York issued a ruling that has the potential to significantly disrupt Wall Street compliance, and is a major first step towards protecting retail investors from fraud.
In Harrington Global Opportunity Fund Ltd. v. CIBC World Markets, Inc et.al, Judge Schofield found that broker-dealers may be primarily liable for manipulative trading initiated by their customers because they serve as “gate-keepers” of trading on securities exchanges.
These broker-dealers have a “continuing responsibility to ensure that their customer’s order flow ... is in compliance with all applicable rules, regulations and laws and detect and prevent manipulative or fraudulent trading … under the supervision and control of the firm,” the judge ruled.
The defendants in the case had motioned to dismiss Harrington’s claims of market manipulation and spoofing (when traders place market orders and then cancel them before the order is ever fulfilled, manipulating prices in the meantime). Judge Schofield denied the motion after hearing arguments that broker-dealers are not responsible for “their customers’ trading”.
Instead, the ruling recognizes that not only are broker-dealers the gate-keepers who can enable illegal naked short selling, but they are responsible, and thus liable for their customers’ actions. Schofield described broker-dealers as “reckless in not knowing that the trades being executed at their customers’ direction were manipulative”.
Naked Short Selling: ‘Financial Weapons of Mass Destruction’
Naked shorting creates a dangerous minefield for retail investors. But it’s a minefield that dealer-brokers may now be held liable for thanks to the recent ruling.
Short-selling itself isn’t illegal. In order to legally sell a stock short, traders must first secure a borrow against the shares they intend to sell. Where the September 29 ruling comes into play is at the point of the broker-dealer. Any broker who enters into a stock short on behalf of a trader must have assurances that his client will make a settlement.
As opposed to a “long” sale (where the seller owns the stock), a “short” sale can be either “covered” or “naked”.
If it’s covered, then there is no issue: the short seller has already borrowed or arranged to borrow the shares when the short sale is made.
When things get naked, the regulatory environment becomes riddled with compliance holes. With a naked short, the short seller is selling shares it doesn’t own and has made no arrangements to buy. That means the seller cannot cover or “settle” in this instance. More profoundly, it means they are selling ghost shares that simply do not exist without their further action. The ability to sell an unlimited number of non-existent shares in a publicly-traded company gives a short seller the ultimate power: To destroy and manipulate a company’s share price at will.
This illicit practice artificially dilutes share prices and then companies find themselves in a position where they have to scramble for capital, Bryan Barkley points out in in-depth research published by the Medium.
That scramble then leads to shareholder dilution in more capital raises, in the best cases, and bankruptcy, in the worst cases. If things get to bankruptcy, Barkley writes, then short sellers win big because they no longer need to close out their short positions.
Following the 2008/2009 financial crisis, naked short selling was classified as illegal in the United States, though that labeling has done nothing to thwart this lucrative game.
What makes the September ruling so impactful is this: Without the big banks and financial institutions’ complicity, this highly destructive form of naked short selling could never happen. Instead, they actively facilitate the destruction of shareholder value.
The reason some big banks allow it, despite their sizable compliance departments, appears quite simple: These illegal transactions are highly lucrative. The short-term windfall profits associated with the creation of counterfeit shares are too tempting to resist.
“[...] brokers will place a marker or pledge to deliver the shares on the investors’ accounts, which are made by the seller’s clearing firm”, Barkley explains. “Abusive and unchecked naked shorting can lead to a loss of shareholder rights, including disenfranchisement by overvoting and the resulting throwing out of votes by brokers to conceal the breadth of the naked shorting problem, which could also lead to fraudulent vote results orchestrated by broker-dealers instead of shareholders.”
It often goes well beyond “ghost” shares, too. The most nefarious of short sellers target companies with negative reports–sometimes with legitimate information, and sometimes with falsehoods or half-truths–to drive down share prices with maximum impact, thus ensuring that the companies lose their ability to obtain financing. Once that process is completed, naked shorters then begin to offer those same companies alternative financing (predatory debt), which they have no option but to accept.
When broker-dealers are complicit in this, the system is broken. And complicity takes many forms, including willful booking of client shares as “long” when they are actually “short”.
Gaps in the regulatory environment have continued to fail to subdue these illegal activities.
Keeping the Brokers in Check: A Global Loophole
Even before the 2008/2009 financial crisis, there were measures in place intended to protect retail investors and regulate the activities of brokers with respect to short selling.
The SEC’s Regulation SHO took effect in January 2005 and specifically targeted “persistent failures to deliver and potentially abusive ‘naked’ short selling”. Amendments intended to further strengthen these regulations were added in 2008, and in 2010, the SEC adopted Rule 201, restricting the price at which short sales could be made when a stock was experiencing significant downside pressure.
Additionally, the SEC notes:
Rule 204 requires firms that clear and settle trades to deliver securities to a registered clearing agency for clearance and settlement on a long or short sale in any equity security by the settlement date or to take action to close out failures to deliver by borrowing or purchasing securities of like kind and quantity by no later than the beginning of regular trading hours on the settlement day following the settlement date for short sale fails, or no later than at the beginning of trading hours on the third settlement day following the settlement date for long sale fails, and fails attributable to bona fide market making (“close out date”). If a firm that clears and settles trades has a failure to deliver that is not closed out by the beginning of regular trading hours on the applicable close-out date, the firm has violated Rule 204 and the firm, and any broker-dealer from which it receives trades for clearance and settlement, is subject to the pre-borrow requirement for that security.
However, as Barkley points out, the SEC does not publish FTDs (failures-to-deliver) of U.S.-issued securities traded and settled abroad (including Canada). This means a significant number of FTDs are never accounted for, essentially creating a naked free-for-all.
Last year, UBS Securities LLC conceded to having failed to close out an astounding 5,300 FTDs in the previous decade, yet still kept executing new short sales in the tens of thousands.
“This is naked shorting and FTD abuse on a significant scale, likely involving many billions of dollars,” Barkley writes.
UBS was fined $2.5 million for violating Regulation SHO. Shareholders were left holding the empty bag, though. And likely lost billions of Dollars in the process.
Also last year, Gar Wood Securities LLC was fined for accepting 2,000 short sale orders without the third-party brokers having located the securities they were borrowing against. Gar Wood was fined $100,000 (which is pathetic).
More recently, in August this year, California-based Wedbush Securities Inc. was fined $6 million by the CTFC (Commodity Futures Trading Commission) for failing to “supervise” trades from third-party brokers, and for dubious private communications. Separately, Wedbush was fined another $10 million by the SEC. And thirdly, in relation to failure to close out FTDs, Wedbush was fined a mere $975,000, a sum that appears to be simply the cost of doing business in the naked short arena.
With regard to violations of Regulation 204, a NYSE American LLC waiver notes:
During the Relevant Periods, the Firm failed to timely close out approximately 2,056 FTD positions due to the Firm failing to timely borrow shares, recall shares that were out on loan or otherwise acquire shares and deliver them in accordance with the requirements of Rule 204(a).
During the period between January 1, 2016 through July 31, 2020, on approximately 390 occasions, the Firm further failed to place a security in the penalty box as required by Regulation SHO Rule 204(b) and to send the notice required by Regulation SHO Rule 204(c).
Additionally, in December 2020, Canadian Cormark Securities Inc and two others pinged the SEC’s radar, with the SEC instituting cease-and-desist orders against Cormark and settling charges against Cormark and two other Canada-based broker-deals for “providing incorrect order-making information that caused an executing broker’s repeated violations of Regulation SHO”. According to the SEC, Cormark and ITG Canada caused more than 200 sale orders from a single hedge fund to the tune of more than $660 million (between August 2016 and October 2017) to be mismarked as “long” when they were, in fact, “short”—a clear violation of Regulation SHO. Cormark agreed to pay a penalty of $800,000, while ITG Canada—one of the other broker-dealers charged—agreed to pay a penalty of $200,000.
The Heroes of the Day
The plaintiffs in In Harrington Global Opportunity Fund Ltd. v. CIBC World Markets, Inc et.al, represented by Warshaw Burstein, LLP, have every reason to celebrate.
The judge’s ruling categorically means that going forward, big banks and financial institutions won’t just be fined for not actively closing shorts, they could be held liable for what so far has been an estimated trillion dollars in losses to retail investors, companies and the U.S. government.
“Brokers can no longer claim that they are not liable for their customers’ trading activities because they are only following their directions. A broker can now be held primarily liable under the federal securities laws when they recklessly fail to monitor, detect and prevent the manipulative or fraudulent trading of their customers,” Warshaw Burstein said in a statement following the judge’s September 29 ruling.
“This decision is a clear and unambiguous warning to broker-dealers that unless they fulfill their gate-keeper responsibilities of monitoring their customers’ trading they can be held primarily liable for their client’s manipulative conduct,” the law firm added.
Canada is one venue where this warning should be heeded first and foremost and where naked short sellers have in our view been fleecing U.S. retail investors and companies for years, taking advantage of a loophole that only requires them to have a “reasonable expectation” of settling a trade, without actually borrowing the stock. The U.S. September ruling adds further fire to a slower-moving regulatory crackdown in Canada by the OSC and the other regulatory authorities.
The game of capital market destruction is now hopefully coming to an end, and this latest ruling hopefully marks the beginning of the end. There is still a long way to go and this really should be front page news, but the banks are brokers have big marketing budgets so i imagine there will be very little coverage on this important news for investors in North America.
Genius Group enters Joint Venture with RetreatVR to build VR Life
Campus with VR AI Genie on Meta Store and Apple Vision Pro
SINGAPORE, October 16, 2023 - Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a leading entrepreneur edtech and education group, announces today that it has entered into a joint venture agreement to develop the Genius Metaversity ‘Life Campus’ with RetreatVR, the founding team of GeniusX and developers of Retreat App, a virtual reality education application on the Meta VR Store that hosts classes featuring top experts in the Metaverse.
Life Campus will be the newest addition of learning content to the four current virtual campuses on Genius Group’s Edtech platform, GeniusU, serving its 5.4 million students from around the world. The current campuses (Entrepreneur Campus, Investor Campus, University Campus and School Campus) each deliver freemium and premium courses to their particular audience of students both digitally and via microschools at locations with GeniusU’s 14,000 partners globally. Life Campus will complement these campuses by delivering courses on health, mental health, relationships, communication and life skills delivered by leading experts.
The goal of the joint venture is to combine the strength of GeniusU’s current platform, students and partners together with RetreatVR’s courses and partners, including those already developed in virtual reality on the Meta VR store with Retreat App, featuring experts in creativity, careers, wellness, mindset, relationships, financial well-being and entrepreneurship.
The joint venture will build Life Campus initially on Genius Metaversity, accessible via PC and laptop via GeniusU, and then to build it to also be accessible with the next generation of VR headsets in a combination of 2D and 3D as an app on the Meta Store and Apple Vision Pro platform.
The Company and RetreatVR will also be developing Genius Group’s Genie AI into an interactive AI teaching assistant in VR personalized to each student, combining the 3D avatars that RetreatVR has developed with GeniusU’s Genie AI that advises each student based on their personal talents, passions, purpose and learning goals.
The Company anticipates Life Campus will be market ready and open to its students on GeniusU in Q1 2024.
CEO of Genius Group, Roger Hamilton, said “We have been working with the RetreatVR team in the development of our Genius Metaversity 2.0, and we believe that their VR development team is world class. We are excited to bring their courses and mentors within RetreatVR to GeniusU, and the topics we will be covering in Life Campus have been requested by our students of all ages.”
CEO of GeniusX and the RetreatVR team, Nick Janicki said “Retreat App was one of the first learning apps on the Meta VR Store, and we have been grateful to have the support of Meta, including receiving a Meta grant for the development of our app. Metaverse tools and interest in the Metaverse has accelerated tremendously. This joint venture with Genius Group enables us to use the VR assets and development team we have built to reach a wider audience and to integrate our mentors and experts with GeniusU’s courses and community. We’re extremely excited to be pioneering this new world of learning with GeniusU and Genius Metaversity.”
October 13, 2023 "Hedge Funds Would Have to Tell SEC Which Companies They Sell Short Under New Rules
Agency would publish aggregate information, giving investors a window into short selling activity"
https://www.wsj.com/finance/regulation/hedge-funds-would-have-to-tell-sec-which-companies-they-sell-short-under-new-rules-65447480
I think your posting on the wrong board LOL
Looks like his battle plan has begun, looking for more positive 8k’s moving forward
Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a leading entrepreneur edtech and education group, announces today that it has entered into a loan agreement with its CEO, Roger James Hamilton, to provide the company with up to $4 million as an interest free loan, to be converted into equity in Genius Group as ordinary shares and upon the same terms at the next Qualified Financing Round.
CEO of Genius Group, Roger Hamilton, said “I founded this company and am fully committed to our mission and future success. As the company continues on its growth path, and as we continue to sign new partnerships and joint ventures that harness cutting-edge technologies to serve our students, users and partners in unique way, I want to ensure our company continues to grow without liquidity constrains while we take the time to ensure we attract the right investors who are aligned with our long-term success.”
Very nice bounce
AH this is going to 20 plus, we are witnessing an amazing short squeeze!!!! Loving that they having to pay up
🟢🔄A new version of the XCB HODLER app is available in your Google and iOS stores.
↘️Notable updates entail:
Changing the RPC URL to .net URLs
Fixing the logo on the Google Pixel phone
Fixing the error on the “max” button when sending maximum assets
SECURITIES AND EXCHANGE COMMISSION (Release No. 34-98213; File No. SR-NSCC-2023-007)
August 24, 2023
Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Filing of Proposed Rule Change to Modify the Amended and Restated Stock Options and Futures Settlement Agreement and Make Certain Revisions to the NSCC Rules
MUST READ!!!
https://www.sec.gov/files/rules/sro/nscc/2023/34-98213.pdf
SECURITIES AND EXCHANGE COMMISSION (Release No. 34-98213; File No. SR-NSCC-2023-007)
August 24, 2023
Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Filing of Proposed Rule Change to Modify the Amended and Restated Stock Options and Futures Settlement Agreement and Make Certain Revisions to the NSCC Rules
MUST READ!!!
https://www.sec.gov/files/rules/sro/nscc/2023/34-98213.pdf
SECURITIES AND EXCHANGE COMMISSION (Release No. 34-98213; File No. SR-NSCC-2023-007)
August 24, 2023
Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Filing of Proposed Rule Change to Modify the Amended and Restated Stock Options and Futures Settlement Agreement and Make Certain Revisions to the NSCC Rules
MUST READ!!!
https://www.sec.gov/files/rules/sro/nscc/2023/34-98213.pdf
Thanks! there is 100’s of millions of dollars on the table here
BASHERS POSTING STATS FOR DBMM IHUB BOARD
17 years of posting against DBMM bashing every day
Total post for 20 bashers is 44,912
ALMOST 45,000 NEGATIVE POSTS!!!!
- Stock_Barber First post 8/14/2011, posting for 12 years,
total post 18,092
https://investorshub.advfn.com/boards/memberpoststoboard.aspx?user=164220&boardid=5130
- Jetmek_03052 First post 5/28/2009, posting for 14 years,
Total posts 7,773
https://investorshub.advfn.com/boards/memberpoststoboard.aspx?user=31528&boardid=5130
- loanshark007 First post 2/10/2023, posting for 5 months,
Total posts 247
https://investorshub.advfn.com/boards/memberpoststoboard.aspx?user=718445&boardid=5130
- otterman First post 3/12/2006, posting for 17 years,
Total posts 6,935
https://investorshub.advfn.com/boards/memberpoststoboard.aspx?user=33314&boardid=5130
- janice shell First post 11/15/2019, posting for 3.5 years,
Total posts 404
https://investorshub.advfn.com/boards/memberpoststoboard.aspx?user=5708&boardid=5130
- rozzy First post 6/30/2017, posting for 6 years,
Total posts 108
https://investorshub.advfn.com/boards/memberpoststoboard.aspx?user=25587&boardid=5130
- crowin First post 12/2/2015, Posting for 7.7 years,
Total posts 319
https://investorshub.advfn.com/boards/memberpoststoboard.aspx?user=53217&boardid=5130
- Idiot Mayor First post 10/24/2022, posting for almost one year,
Total posts 817
https://investorshub.advfn.com/boards/memberpoststoboard.aspx?user=801702&boardid=5130
- Renee First post 6/14/208, posting for 15 years,
Total posts 110
https://investorshub.advfn.com/boards/memberpoststoboard.aspx?user=42879&boardid=5130
- I-Glow First post 5/20/2017, posting for 6 years,
Total posts 47
https://investorshub.advfn.com/boards/memberpoststoboard.aspx?user=315468&boardid=5130
- toncatmad First post 12/7/2019, posting for 3.5 years,
Total posts 1,398
https://investorshub.advfn.com/boards/memberpoststoboard.aspx?user=451220&boardid=5130
- THall First post 4/1/2017, posting for 6 years,
Total posts 3,835
https://investorshub.advfn.com/boards/memberpoststoboard.aspx?user=581199&boardid=5130
- Gotham Bay Group First post 5/7/2015, posting for 8 years,
Total posts 751
https://investorshub.advfn.com/boards/memberpoststoboard.aspx?user=602969&boardid=5130
- Beef Wellington not available
- space1230 First post 2/3/2016, posting for 7 years,
Total posts 536
https://investorshub.advfn.com/boards/memberpoststoboard.aspx?user=204396&boardid=5130
luvthemtrainz first post 9/30/2009, posting for almost 14 years,
Total posts 3,038
https://investorshub.advfn.com/boards/profileb.aspx?user=269
Hugie First post 12/23/2022, posting for less than a year
Total posts 134
https://investorshub.advfn.com/boards/profileb.aspx?user=418729
fourcloze First post 12/02/2019, posting for less than 4 years,
Total posts 326
https://investorshub.advfn.com/boards/memberpoststoboard.aspx?user=600605&boardid=5130
k9narc First post 7/21/2023, posting for less than a month
Total posts 19
https://investorshub.advfn.com/boards/profileb.aspx?user=61680
Huggy_Bear First post 10/04/2017 posting almost 6 years,
Total posts 23
https://investorshub.advfn.com/boards/memberpoststoboard.aspx?user=172007&boardid=5130
17 years of basher posting is 44,912 total posts. This number is going up EVERY MINUTE!!
Can you imagine spending 14 to 17 years of your life talking trash about a company you are not invested in!!! PLEASE ASK YOURSELF WHY???
ITS BEYOND COMPREHENSION!!!!!!
HERE IS THE LIST OF THE PAID BASHERS
1. Stock_Barber
2. Jetmek_03052
3. loanshark007
4. otterman
5. janice shell
6. rozzy
7. crowin
8. Idiot Mayor
9. Renee (famous DBMM advocacy post)
10. I-Glow
11. toncatmad
12. THall
13. Gotham Bay Group
14. Beef Wellington
15. space1230
16. luvthemtrainz
17. Hugie
18. fourcloze
19. k9narc
20, Huggy_Bear
I put the link to each basher to make it easy for anyone to click and read all there negative posts
Bullish
BULLISH
Bullish
BULLISH
Bullish
BULLISH
Bullish
BULLISH
Bullish
BULLISH
Bullish
BULLISH
Bullish
BULLISH
Bullish
BULLISH
DBMM OVER 19 BILLION TRADED 8 YEAR DATA TRADED
$DBMM EACH YEAR TRADE HISTORY
$DBMM 2014 11,773,000,000 11 PLUS BILLION PLEASE READ THAT AGAIN!!!
2014 11,773,000,000. OVER 11 BILLION!!!
2015 1,327,000,000
2016 2,938,000,000
2017 1,980,000,000
2018 205,000,000
2019 429,000,000
2020 202,000,000
2021 194,000,000
$DBMM 8 YEAR GRAND TOTAL 19,048,000,000 yes OVER 19 BILLION TRADED SHARES TRADED
Here is the link simply change the year and add away
https://ih.advfn.com/stock-market/USOTC/digital-brand-media-and-pk-DBMM/historical/more-historical-data?current=3&Date1=01/01/14&Date2=12/30/14
Bullish
BULLISH
GNS getting ready to move again 1.12
Looking to touch 1.25
I will buy them, let me know how much
Can you post a link please, would love to read about this cock roach
Iggy
https://stocktwits.com/sunkissed1/message/547101947
This pic shows OSTK timeline compared to GNS. We are two weeks away from the cover of all covers!