Calissio Resources Group Inc (CRGP)

[coinsguy]

Those shares, according to COR, where not dividend eligible. So how could CRGP have "the apparent intention of profiting by repurchasing them and pocketing the dividend" if they were not dividend eligible? CRGP had no way of knowing who sold them the shares they bought or that the owner was dumping hundreds of millions of them on the market. They could just as easily been naked short sales. Only the broker who facilitated the sale knew who they came from and if COR didn't inform that broker that they were not dividend eligible then that broker could only assume they were and reported them as such to the DTCC. COR was negligent in not informing CRGP's broker they were not eligible and created this mess themselves. The only reason CRGP raised the A/S was because they needed the shares for the conversion of that note to the tune of almost 400 million shares.