From anothe Board
PCola
After hearing that Ameritrade peole were able to sell their stock I called Scottrade and they said I could sell, but I would be responsible if any changes were made to the transaction, like if the rate changed from .462 or whatever. I said fine, and sold my 10Mil JPHC shares (4.6mil PAIV) at an average of .0011. After reading all the stuff about having to buy back, I got a bit worried and called Scottrade again, asking if there was a chance that I had basically acidentally shorted the shares, and could i be liable for having to buy them back at market price. He said yes, that was possible, but until he had confirmation that they were restricted, he didn't want to tell me to buy then back (at this time it was trading at about .0014-.0015, so I'd be out like 30%+). Eventually it dropped back to .0009-.0010, and so I bought my 4.6million back at .0010. So now I'm back to where I started, but made $400 on the "short sale" and "cover". Almost makes up for the $6K tha I lost on it in the first place... [Smile]
After reading through this whole thread, and all the PRs, I still have NO FREAKING CLUE what I am/was supposed to do. Hopefully this all gets sorted out quickly on Monday, because I'm too busy at work to be reading the internet all day.
Good luck to anyone who's involved here, and if you're not, for the sake of your own sanity, stay out! [Smile]
AI
