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It should be complete when the ticker goes back to TLNUF.
Those restricted shares are protected from RS. Do not convert them to common shares until the RS is complete and it is trading normal.
You need to have the restriction lifted first, then you can convert them into common shares.
I talked with E*TRADE. There is a $150 fee to make your preferred shares unrestricted. Once that is done you can then convert them into common shares. It is a 2-3 week process to get them unrestricted. You do not need to contact the company.
Once the split officially goes through, the stock price should be at .50 according to a 1 and 5000 split, correct?
Yes, I would think so. It takes 2 weeks for the conversion of the preferred shares from what E*TRADE told me.
I thought they did a R/S. Why does it show trading 0001x0002?
At this point it looks like his only choice is a R/S. No one buys on any news he puts out. This will not move without a R/S.
R/S looming
It looks like a R/S is coming, so we need to be ready to convert those preferred shares when it does.
I have not done it yet. I am waiting to see what happens here. Once they are converted to common shares, are they no longer protected from a RS?
Thanks for the info.
I called Etrade and they said they can convert my preferred shares through rule 144. Not sure what that rule is, but it sounds like they can covert them for me without TLNUF involved.
Once we get them converted, we can sell them anytime we want too, or hold them as long as we want?
Did you get your preferred shares converted to common shares?
How do you convert them? Can you call and convert at any time?
I would consider this as well.
I agree. They need to release the restriction on the divvy shares and do the RS. That will make all the long term shareholders very happy. After all we have been through, we deserve it.
You literally know nothing. I can tell by your comments.
Just do a R/S and get it over with. Then lift the restriction on the preferred shares so people can get their money back and then some.
When they do release the restriction, will the preferred shares automatically be converted in our account, or do we have to call our broker and get them converted to the common shares?
Can they release the preferred shares restriction whenever they want?
Once they release the restriction on the preferred shares, we can convert them?
I'd rather take that chance then sit at
.0001.
I am hoping for a R/S so I can convert my preferred shares
Ok, thanks
What does a 1 share trade mean? Why are the MM's doing that?
What does a 1 share trade mean?
Is the converting of our shares a long process? If we request them, do they not convert them right away?
True. They will probably not release them to us until we are at .0001 again.
At these levels, they do not have much of a choice but to do anther R/S, and then we can cash in.
Thanks. If we wait until another R/S, we will actually be in line to get all of our investment back and then some.
Fahrenheit, can we hold our deferred shares until another possible R/S and then sell? They are protected, correct?
Wow, finally some excitement and a lot of new faces.
Some actual buying the past 2 days.
No I do not have it.
Thanks for the explanation. I did not know that.
When our preferred shares turn into common shares in April, and they later do a R/S, those common shares will be split, or are they protected?
I agree. We need something substantial from them.