Yes Who, I received your email and sent you a reply. What I meant relative to the DTC site is couldn't we try to get Bay City Transfer to get all the restricted shares unrestricted through the DTC service at once? Wonder if we should ask Bay City Transfer if they participate in the DTC program? If so sounds like it could handle the "group" opinion letter, but from their response previously I'm guessing they're not a participant.
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How the service works
"Once a firm begins participating in the Restricted Deposit Service, it sends the restricted shares to DTC's Restricted Deposit Service personnel, along with the accompanying documentation and detail required to remove the restriction. DTC reviews the documentation and negotiability of the securities, images the certificates, and delivers them overnight to the transfer agent. Restricted certificates held in DTC Custody can be moved quickly from DTC's vault to the Restricted Deposits Service. DTC then follows up with the transfer agent to ensure the certificates have been received. Once the restrictions are removed by the transfer agent, either a new unrestricted certificate is issued, or if the agent is a FAST agent, the amount is automatically credited to the firm's DTC free account. If pickup and delivery of an unrestricted certificate is required, DTC does that and completes the "out-transfer" process. At the firm's option, any residual restricted securities are credited to the firm's Custody Service account or delivered to a specified destination by overnight courier. DTC can accommodate the restricted transfers of all DTC-eligible securities, as well as all transferable Custody-only issues."
AI
