Personally I have ONLY purchased through Private Placement, and currently all of my shares are in street name and part of the float.
As for the rest of my group, I walked them through it. Only 1 guy with just under a million shares hasn't gone through the process as of yet.
It certainly can be done - don't give up and fool yourself into believing that the certificate is useless - you just have to keep plugging away at it. Most brokerage firms - especially the ones with the very low commission rates - do not want to get involved with DWACing penny stocks (Deposit/Withdrawal At Custodian).
If you have a certificate, you will seee the "custodian" on the certificate (the "transfer agent"). First step is to give them a call and see if they can help you.
Since I first did it, the process has changed - in that the brokerage houses willing to accept DWACed shares could now all be very different (at the time Schwab and Fidelity were doing it, then later Alpine and USAA..........now..........you just have to be persistent and find out for yourself).
In about another month, I myself will most likely have another one of those pretty certificates as I have committed to help out with fuel expenses during the proving flights. If anyone wants to wait another 7 months or so (1 month from today plus 6 months for the restrictions to expire), I will have certainly once again ferretted out the process and will gladly post my discovery here.........step by step with all the necessary phone numbers (as I had done so about 2 years ago).
AI
