As I understand it, YOU wouldn't be given the physical certificate. This is what would happen (assuming 1 share of ATRL for every 1 Share of ACMG owned)....
1. ACMG would give the Transfer Agent 45 Million Certificates of ATRL.
2. The brokers would show the Certificates for ACMG to the transfer agent and the transfer agent would give the corresponding # of ATRL shares to the broker.
3. The broker would then give YOU the shares of ATRL electronically. You won't get the physical certs unless you request them. The broker will keep them and just pop them inthe computer under your account.
Now lets say your broker sees you have 50,000 shares of ACMG. He doesn't have the Certificates, he just has IOUs. He goes to the clown that sold the IOUs to him and says give me those certificates NOW. The clown then has 2 options....Option 1. Go buy the shares on the open market immediately to give the certificates to the broker asking for them or Option 2 say you don't have them and go to jail for fraud. That's why if they do this right they will be buying at whatever price they can get..they might loose a few hundred million but that is better than going to jail. If they don't do it right (electronically) then when the broker asks for your 50,000 shares of ATRL the clown just sends over 50,000 electronic IOUs and your broker is fat, dumb and happy cause he just put the 50,000 "shares" of ATRL in your account and you are fat, dumb and happy (no insult intended =)) cause you see 50,000 shares of ATRL in your account. Although you are no longer happy cause the naked shorting continues cause they know ACMG doesn't know how to stop them so the PPS just keeps going down.
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