You're talking different things here. In your last message you said no broker would "touch" penny stocks. Now you're saying no one will transfer 'em.
I've found that most brokers will allow trading them, although many won't touch chilled ones. Fidelity, Scottrade and Schwab all allowed me to buy shares of a chilled company. The company recently got that chill removed (nearly unheard of in the pinks!) and are now making good progress.
As I stated before, it's nearly impossible to transfer penny stocks - there's just too much risk and no reward for doing so. A brokerage would be doing all the work for nothing and assuming all the risk. You've already paid your commission to buy the shares through the current broker, so the broker accepting them gets nothing. Why would a new broker want to risk taking a stock that carries a lot of risk for no reward?
I have 36,000,000 shares of a single stock in Fidelity, and still couldn't find a broker to transfer them. I even called the transfer agent about it.
I thought the assets would look good on a company's balance sheet, but no brokers were interested.
Since I couldn't move 36 million, I'm sure not surprised about your 144!
The under $5.00 market will never be "toast!" How do you think a lot of companies get started?
I've been in the red for over 2 years with my shares, all the while bashers and even several investors were screaming SCAM (this company is the one with the fraudster previous-CEO I mentioned).
The company has been preparing to bring products to market for nearly 3 years, now it's finally about to start paying off.
I highly doubt your lawsuit (if it ever gets filed) goes anywhere, unless there's a lot more to it than you've stated here. Brokers have a right to accept or deny stock transfers, there's no law ordering them to do it. Same goes for Fidelity: They have the right to refuse customers who complain too much. Might not be good business practice, but they obviously don't care and they're not hurting for business.
AI
