Spoke with the Transfer Agent about 15 minutes ago. I was informed that they expect to have everything worked out within 3-4 weeks. She said they are engaging the brokers and the DTCC to sort out the share structure, and determine who is entitled to how many shares. I also questioned about who would take physical possession of the certs. She informed me they would in fact be mailed back to the broker. I reminded her of the corporate PR put out by PAIVIS stating the physical certs would be mailed to the individual owners at their personal residence. She stated the company was WRONG in making that statement....the certs go back to the originating broker, and they have two options. Either mail each of us our certs, or hold the certs and reinstate our shares in our accounts. I mentioned my concern with the broker holding my certs because of shorting possibilities. She assured me the broker can NOT short a physical cert as they are not included in their bulk cert for that security. She said the broker must have our written permission in order to utilise our physical cert in any form or fashion. I have not been able to contact the company for several weeks now, so I have no idea what their opinion is. I would suggest ensuring you have a plentiful supply of K-Y on hand....FYI...PAIVIS phone number that I have is 404-601-2885...have left numorous voice messages to retun my call...no luck. Also, my understanding is CANADIAN brokers no longer handle certs for otcbb level securities...don't know how true it is...but canadian friends have told me this is the case...seems some may have problems with this cert thing now. GLTA
AI
