Investor Help (NO Ihub questions)

[cintrix]

Years ago you could transfer penny stocks from one brokerage to another without a problem. Now most brokerages don't allow acceptance of stocks from somewhere else. You need to have purchased them from that broker in order to sell them. This question about who might accept shares has come up a few times over the years on this board. I do remember back then that Interactive Brokers was one mentioned that accepted lower priced penny stocks. Don't know if they still do. Here is what I would do if I were you. Make a list of all the main brokerage houses and get on the phone and call each and everyone and ask them. If you find one that will accept them I would make sure you get that in writing before you write off your business to someone else. There may be ways of negotiating with a broker - say you have a lot of money and plan on doing a lot of trading with them you can offer to open an account with them providing they accept those shares. I did that awhile back with Etrade. Another thing to consider is how long are those shares locked up? When does the restriction come off of them? Will they be even worth .05 by the time you are able to sell them? Of course it can work both ways - the shares may go over .25 and you will be able to unload them without a problem but with OTC stocks the chances of that happening vs the shares going to under .01 are not good. I would never take that chance - going through with the deal and hoping the price goes over .25 by the time the restriction is lifted.