World Surveillance Group Inc (fka WSGI)

[WilliamFL]

I called E*Trade on Tuesday to find out where my stocks had been placed. Even though I bought with Cash, they placed it into a Type 2 Account (margin). They just sent me these messages saying they transfered all the shares back to a Type 1 Account (Cash)


Account: Brokerage - XXXX
Date posted: 08/01/2007
Description: GLOBETEL COMMUNICATIONS CORP Transfer FROM TYPE 2

Account: Brokerage - XXXX
Date posted: 08/01/2007
Description: GLOBETEL COMMUNICATIONS CORP Transfer TO TYPE 1

Just a heads up, when I first called E*Trade, the rep was quick to assume that since I bought the stock with Cash that they would not be held in a Margin account. It took him a few minutes to realize they where in a margin account. My advice for anyone who wants to check there E*Trade account. Ask them if the shares you have are being held in a Type 1 (Cash) or type 2 (Margin) account.