I feel more secure when my stocks are tradable. I look at BCIT which has not traded in two years(I know a different set of problems). However, I will not be comfortable until all brokers are trading this stock. I look at our current situation and wonder why one or two brokers can update their customers accounts with the stock split while most of the brokers can't. Maybe it is that 141 just did too many changes in a short period of time. Or maybe some of the numbers don't add up between what the company records say and what the MM's sold. I think that Fidelity uses Hudson as their MM and their numbers must have matched the company's records since they have completed the split.
Then I ask myself why is this taking so long to resolve. Errol says it is out of the hands of the company and in DTC's hands. IMO, DTC has no interest in dragging this out. The Brokers are all saying that they have not received the shares or instructions; so where is the problem. I keep coming back to the MM's and a mismatch of the number of shares that the company is delivering to them and the number that they sold.
I also think that this issue is further complicated by the sequence of events that 141 has taken regarding their O/S. If you start with the A/S and carve out the escrow shares, Spooz shares, and the shares converted to preferred, you get a relatively small float. If the company is delivering a much smaller number of shares into this float than what the Brokers are reporting in their customer accounts, we have a very interesting situation since the all the mismatch in share count is forced into the current float IMO.
I am not saying that this is the case. However, it does seem like a real possibility. There may be other possibilities that explain the current situation. If so I would like to hear them.
Also, if we are in a mismatch of shares between the company and the MM's, I am not sure when or how it will be resolved. Any thoughts anyone?
All just thoughts and opinions. Please do your own DD.
