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Anyone out there? I would have expected posts galore today...
I feel an Energy Source PR comin' today....
SEC Set To Offer Permanent Short-Sale Restrictions
August 21, 2008
The Securities and Exchange Commission’s temporary restrictions on naked short-sales expired just over a week ago, but something much more long-term is in the works.
SEC Chairman Christopher Cox said the regulator will propose new rules covering short-selling within the “next few weeks,” and the new restrictions may go much further than the ones that expired on Aug. 12.
“Our proposals will be designed to ensure the smooth functioning of markets and to support equally the important role of bets on the upside and the downside,” Cox said.
The temporary restrictions on naked shorts put into place on July 15 covered only U.S. mortgage giants Fannie Mae and Freddie Mac, as well as 17 brokerages, in an effort to shore up those companies and protect them from market manipulation. The new rules may cover all short-selling, and not just financial names, Cox said.
I sense a PR at end of day...(again) :)
What did they say at the SH meeting?
My spidey senses a looming PR before end of day....
09/20/2005 - 0.0100 - 0.0100 - 0.0100 25,000 $250 - Tue
...is mine.
F1fans, you use RBC?
I just voted verbally through my RBC broker...I had tell them for or against for each of the 4 proxy questions and I am supposed to trust that they voted correctly "into their system".
I did get a confirmation number so I must have legit shares......right?
By the way, they confirmed a mandatory corporate action for the 200-1 R/S of the stock...even though we haven't voted yet!
Anyone here use RBC?
From my broker:
Dear Mr. XXXXXXXXX,
Our Reorganization Department has advised that if you received the proxy in the mail, you can use this to vote. Otherwise, please call our office and speak to an investment services representative at 1-800-xxx-xxxx who will submit your instructions. You cannot send the instructions via this email channel.
Sincerely,
xxxxxxxxxxxxx
I use RBC Direct Investing...I haven't received squat from them. Should they be the ones sending me a proxy package???
What is the procedure to vote on this proxy? The broker should vote as per my instructions...right?
Does my broker provide me with forms?
What is the exact procedure on how to vote for this proxy thing?
I call my broker and give them instructions to vote on my behalf?
Anyone have an email template that I could use?
My broker tells me that I have valid shares and should be able to vote in this proxy.
So does anyone know how I go about doing this? Is there a form to fill out?
Response from broker about being eligible to vote on the proxy...
Dear Mr. xxxxx:
Our reorganization has replied that as far as they can see,you should be able to vote their shares.
Sincerely,
xxxxxxxxx
(1) purchase sufficient number of shares of the common stock so that you would hold at least that number of shares of the common stock in your account prior to the implementation of the reverse stock split that would entitle you to receive at least one share of the Company’s common stock a post-split basis. However, because no public market currently exists for our common stock, we believe that you will not be able to purchase additional shares except through privately negotiated transactions;
Anyone want to buy 20000 shares? Send me your offers to karbin12@hotmail.com
I also emailed my broker the same question.
In other words....
'could not possibly comment on this interesting and [just scratching the surface] piece of research'
Does anyone know if Molson get his money?
Tom Megas injured again....
http://www.harolds.ch/blogs/index.html
I set a sell limit order for 5000 shares for .15 with RBC.
Fair enough...I'll cancel it now.
I want my broker to bite at some crumbs to confirm that they will trade bcit...
so then when I decide when I want to sell my cake..they will have no excuses...
I have an open sell order to Sell 5,000 Limit 0.009 using RBC Direct Investing.
RBC Direct Investing
Does anyone here use RBC Direct Investing as their broker?
I just placed an order to sell 20000 Limit 0.05...any takers?
Why do you want to transfer out of RBC Direct Investing?
Yup, I see my post halt purchase:
09/20/2005 - 0.0100 - 0.0100 - 0.0100 25,000 $250 - Tue
I bought 25k shares on 9/20/05... :)
You forgot the 100:1 forward split for preferred shareholders.
When was the last Megas mail?
Hmmm...
5. Resale Status of Securities Received in a Transaction Exempt From Securities Act Registration Pursuant to Section 3(a)(10)
In the Division's view, holders must resell securities received in Section 3(a)(10)-exempt exchanges in the manner permitted by Securities Act Rule 145(c) and (d).31 These Rule 145(c) and (d) resale limitations apply only to holders that were affiliates of any party to the exchange at the time of the Section 3(a)(10)-exempt sale.
Generally, Rule 145(d) provides three appropriate methods for unregistered resales by these holders:
resales that meet all of the Rule 144 requirements, except for the holding period and notice filing requirements (Rule 145(d)(1));
resales by persons who are not affiliates of the issuer and have held the securities for at least one year from the date of the Section 3(a)(10)-exempt transaction without regard to Rule 144, except for the current public information requirement (Rule 145(d)(2)); and
resales by persons who are not, and for the last three months have not been, affiliates of the issuer and have held the securities for at least two years from the date of the Section 3(a)(10)-exempt transaction without regard to Rule 144 (Rule 145(d)(3)).
It is the Division's view that securities received in a Section 3(a)(10)-exempt transaction may be resold in the following manner:
1. Persons may resell their Section 3(a)(10) securities without regard to Rules 144 or 145(c) and (d) if they:
a) are not affiliates of any party to the transaction before the transaction;
and
b) are not affiliates of the issuer of the Section 3(a)(10) securities after the transaction.
2. Persons may resell their Section 3(a)(10) securities in the manner permitted by Rule 145(d)(1), (d)(2), or (d)(3) if they:
a) are affiliates of any party to the transaction before the transaction;
but
b) are not affiliates of the issuer of the Section 3(a)(10) securities after the transaction.32
3. Persons may resell their Section 3(a)(10) securities in the manner permitted by Rule 145(d)(1) if they:
a) are affiliates of any party to the transaction;
and
b) are affiliates of the issuer of the Section 3(a)(10) securities after the transaction.
The resale provisions of Rule 145(d)(2) or (d)(3) would not be available to this third group because Rule 145(d)(2) and Rule 145(d)(3) are not available to affiliates of the issuer of the Section 3(a)(10) securities.
I keep an eye on this...just in case they try to pull a fast one on all of us.
http://www.dtc.org/impNtc/ope/ope_2328-07.pdf