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Nope. From FINRAs site, they have ZERO control. The do not review or make any determinations. the company and TA are required to notify.
"FINRA’s processing function helps to keep investors and the market informed of company corporate actions. However, FINRA is not responsible for approving or disapproving the action the company is taking. And FINRA does not review such requests for a company’s compliance with any federal, state or other regulatory requirements. The public company is responsible for making sure their business decisions comply with all applicable laws and regulations."
That's idiotic. The TA and company are solely responsible here.
The pre-split price was 0.0007. That is in the filing of the split. The last closing price.
If this partial shut-down continues this might have a very positive result.
I trade with code so I don't ever look at anything unless it is a very strange anomaly.
Just pull the daily data from yahoo, the OTC and google finance. You will see the difference in shares.
They can be bought in the 40s. But, if you are going talk about Faberge you should at least know what the top of the line plane is. And, if you are flying a great distance you want three engines.
I don't know what you are talking about. Post R/S there is no distribution. There is only MM activity keeping the stock active so it's the low volume that matters.
Here are the actual trades. You are talking 30 shares a day in some cases. And they are wash trades. Just positional buys and sells back and forth. That's what MMs do.
These trades are all POST-SPLIT. The stock moved prior to the R/S from an adjusted .38 to .80. That is a pre-split move from .0007 (it actually hit 0.0005). This move in price happened before the split. Since then the price has stayed flat at about .80 until the 21st.
Any volume outside of what the OTC is reporting would be invalid.
https://www.otcmarkets.com/stock/RYSMF/overview
And you should notice the OTC did not record much trade activity at all during that time.
F7X.
Gs are for people who don't know planes. Or who only rent them on occasion.
You "walked" into the building man. Wealthy people don't walk into the building. They land on the roof.
Yep. The reason you know this is true is because of the trade volumes.
Money is a means of conveyance. Money has to have close to zero value otherwise it becomes an asset. Money has to devalue over time otherwise it's utility as a conveyance is restricted.
Money has to devalue over time so that future generations are not economic slaves to previous ones.
"Rigged" and "scam" are the exact same thing. They are connotationally synonyms. I was clear to state 1998.
In 1998, people like me started to write algorithms that put traders out of jobs.
We don't represent ourselves as products. Publicly listed companies since about 1998 are all share sellers. They represent a product but the stock price is only tied to shares being sold.
You can pull the data from Apple and if you plot shares outstanding and price it is a nearly perfect straight line.
Now if you walk around with a water bra on or a pickle in your pants then yes you are an equivalent scam.
Understanding the public companies are scams is the quickest way to not having to worry about money.
Except... there were new shares transferred by the TA between June and Dec. Everything else I agree with.
Well, Walmart is a scam. Technically it is a locust company but it is still a scam. The time frame of that one is just on the order of a 100 years where as most is less than 10.
I have no idea really how this will be "fixed" / "resolved." In general, share holders are not protected as this is a buyer beware market place only possible share holders so I would think this gets shut down.
If you purchased after June but before 12/21 my guess is you have a legal case against the TA but this is so convoluted I am not sure how you prove you actually made a valid trade. Technically, those shares don't exist and the account that sold the shares to you I doubt exists anymore as well. If you discovered a free 553x multiplier trade and profited off of it you probably closed the account immediately and did the trade offshore anonymously anyway so not sure how they'd reverse that trade. And I doubt there is any money to get really anyways. The company only had 4k in the bank when this happened. I doubt their TA is very profitable.
But, who knows really? During the flash crash ALL trades were canceled. similarly, if you bought on the 12/21 I believe all trades will be forfeited from that day or will be converted post facto to the correct share price.
All publicly traded companies are scams. Every one of them. It is just how big the company dreams. TSLA dreams very big, MMEX dreams very small.
The "debacle" occurred in June. Since June shares have been trading for two separate companies. A stock can't go down 2000%. That isn't how math works.
If you bought before June your shares should have been split 553:1 and the price moved from 0.0005 to .27 cents. And some shares where sold into the market for the new ID at that price.
Any shares bought after June are probably going to be ceased and or cancelled as they don't exist.
In practical terms, maybe let's say 50 people got bought shares during this event. But, there are a hundred million possible investors so the best course of action is to shut this company down to protect everyone else.
But, in real terms the SEC probably isn't staffed enough nor being paid currently to care... very curious what is going to transpire here as it appears this is partially shell hijacked. Could get interesting.
Is the price reflect 2 bucks? If so that is already adjusted.
I don't track issuants from South Africa. Got a symbol or company name? I can look into it and see what the reason was.
A D reflects only if there are new shares being sold. In this case there were no new shares being sold so there was no need for a D. Ever.
FINRA has nothing to do with the pricing. That is the TA.
The TA caused this.
You still don't understand what the D really means. But, yes it was back dated. The PR was dated July 3rd and the notice to FINRA was dated 6/28.
Back dated R/S. As soon as the government is not partially shut-down this stock will have to be IMO.
"CUSIP only change as the result of a 1-553 reverse split which went effective on 6/28/18."
"Toronto, Ontario--(Newsfile Corp. - July 4, 2018) - Royal Standard Minerals Inc. (OTC Pink: RYSMF) (the "Company") announces that effective July 3, 2018, the Company filed articles of amendment to effect the consolidation (the "Consolidation") of all of the issued and outstanding common shares (the "Common Shares") of the Company on the basis of one (1) new post-Consolidation Common Share for every five hundred and fifty-three (553) existing pre-Consolidation Common Shares, as approved by shareholders of the Company at its annual and special meeting held on May 24, 2018.
The Consolidation reduces the number of outstanding Common Shares from 920,835,502 to approximately 1,665,163 and proportionate adjustments will be made to any of the Company's outstanding convertible securities. No fractional Common Shares will be issued pursuant to the Consolidation and any fractional Common Shares that would have otherwise been issued will be rounded down to the nearest whole number and cancelled.
Letters of transmittal with respect to the Consolidation are being mailed to the Company's registered shareholders. All registered shareholders will be required to send their share certificates representing pre-Consolidation Common Shares, along with a properly executed letter of transmittal, to the Company's registrar and transfer agent, TSX Trust Company, in accordance with the instructions provided in the letter of transmittal. Shareholders who hold their Common Shares through a broker, investment dealer, bank or trust company should contact that nominee or intermediary for assistance in depositing their Common Shares in connection with the Consolidation. A copy of the letter of transmittal will be posted on the Company's issuer profile on SEDAR at"
They pretty much have to be a broker-dealer to be a market maker. Not a broker but a broker-dealer. In fact, I am not sure you can be a MM without being a dealer.
Then you understand why believing a D will be added is incorrect.
It was trading pre and post-split adjusted for the past 50 days. Not all trades are exchange traded for foreign issuers.
Cannacord Genuity is a market maker.
Very bottom of the page.
https://www.canaccordgenuity.com/capital-markets/what-we-do/sales-and-trading/fixed-income-services/
Here is a overview, you might want to read this.
https://www.investopedia.com/ask/answers/06/nasdaqfifthletter.asp
It's not foggy.
" CUSIP only change as the result of a 1-553 reverse split which went effective on 6/28/18."
Unless you had a database recording the stock price back from May you'd have missed it anyways.
This was caused by a transfer agent.
You fundamentally have a misunderstanding of how markets work. Broker/Dealers do not sell you anything. All they do is process orders to a central exchange.
You request shares and they attempt to find them. That is it. Broker/Dealers do not have anything to do with setting prices. And the market is a a buyer beware system there is no fiduciary responsibility.
No the split occurred in June. From FINRA:
"CUSIP only change as the result of a 1-553 reverse split which went effective on 6/28/18."
Going to ignore everything you wrote after that as it is based on false information.
The pre-split price was .0005
Your broker is protected by law as well. Much like your bank is. If you go to an ATM and the machine gives you more money than in your account that money is not yours. Similarly, if money is transferred into your account in error and you spend it, you have to pay it back.
You don't own shares of a company until the transfer is settled which in this case any shares purchased between June and 12/21 couldn't be settled until 12/22.
Most of the time you are talking a few days this went on for 6 months, this seems purposeful and malicious.
I can't search specifically for this, I mean really no one would care but, I wrote something quickly and in the last 5 years there have been 6400 symbol changes. Parsing those for companies that did CUSPID changes without cycling through a D state I found... but I am sure there are more.
EMMCF
VCOGF
Ask on the DD board. Ask specifically if they remember any companies that had an unacknowledged reverse split. I am sure someone remembers another ticker.
Actually, it is 100% accurate.