Note on the subject and so that shareholders understand the situation. Everyone who owns shares in GNGR or other stocks, the stocks are not in your name even though you paid for them and see them in your account. They are held in a street name usually in the name of the various brokers.
When you see the data on a companies OTC data saying “shareholders of record” in this case GNGR shows 16 shareholders of record. That does not mean GNGR only has 16 people who own stock, it means that there are 16 holders in street names such as Scottrade or TD and so on. One of the 16 holders of record may be Scottrade who has 100’s maybe 1000’s of people who bought GNGR through Scottrade. Each of those buyers would see shares in their name and account but are in fact not in your name but the broker’s street name.
Most also do not know that when you buy stocks, the small print you approve in the agreement when opening an account, allows brokers to lend your shares to short sellers as long as they are covered at some point. Because the DTC will not post data that is so secret to the public, even congress cannot crate a law to have it exposed, the DTC will actually let brokers borrow far more than what is available so while the broker lends your shares to others, the DTC will multiply them 10-20 times or more.
Brokers who know this will target a company with the intention of: 1) knowing or believing the company will fail and cancel the shares which covers the multiple borrowing, or 2) They will deliberately work to artificially dilute or hold the price down so investors they oversold to won’t be able to or even want to sell eventually hoping their efforts to dilute artificially will cause the target company to compensate by releasing more shares to the market thus confusing the already oversold securities.
That is the reason our group is obtaining the certificates in a non-street name. These will be the only certificates that will be actually owned by one or a group of individuals rather than a broker’s street name.
Scottrade may have a true figure such at 20,000,000 GNGR shares in their street name account, however when they were lent out and sold by other brokers to other buyers, when the borrowed shares were returned to Scottrade, the other buyers still see the GNGR shares in their stock account because the DTC allowed them to be multiplied by brokers possibly to 200,000,000 or more.
Once we get the true float certificates into our name and invest into GNGR, the whole game will change. Everyone above the 108,553,765 shares held in street name brokers accounts will be non-existent and take no part in any possible cash or stock dividend.
AI
