Gappa, I thank you for your analysis. I sure it is a big part of what is going on. You are also right...I do have misconceptions that I spent half a day Friday and part of the day today trying to clear up. The woman I talked to a the National Service Center was not a secretary. She was part of the customer service area that handles clients questions and complaints. She took all my concerns from Friday and sent it up the chain for answers. She used the term "fraudulent" before I did. I asked her if the fraudulent shares were from naked shorting, and she said probably not. She said naked shorting may be involved, but the SEC is saying that unregistered shares may have been sold (via the SEC complaint we have all seen). Let just suppose that the "officer" involved "created" these shares thinking the company was going under and wanted to get in on the action of getting money for nothing by trying to launder some unregistered shares though a third party or company. If the shares were unregistered in the first place and dumped into the market for us to scoop up at .0015 then they are (my term) vapor shares that have no one responsible for covering. IMO... See, I have not been able to get a simple reason for the chill...such as "a large MM failed to deliver a large number of shares".. Its all buried in canned double talk and such.
Scottrade said they cannot issue me certificates because they do not know if the shares are real in my account. If they issued me certificates, then they would now be liable for the shares.. This of course prompted me to ask "who is responsible for these share"...I didn't like the answer, which was "that can't be determined and is the reason for the chill (her opinion...). I asked "is it possible that I could lose some or all of these shares" and she said "it is possible, we don't know what is happening with this security". Of course the next question is "who does know". The answer was, we don't have any further information.
Call me crazy, but all this actually makes some sense about what has been going on with IPWG...you know...the head scratching, what the heck stuff. It answers the question of why someone with a bunch of shares would want the company to fail. It makes sense out of some of the confusing games that have been going on in the market. The infighting may have been about making a successful execution of the company, or taking the crooks route and profit by flooding the market with shares just prior to the companies demise. this is IMO or more like speculation, but after two days of trying to get actual facts...speculation is all I have plus a bunch of frozen shares.
You speak logically of "all of a sudden there is a need to balance" and I totally agree with your analysis. Why hasn't that started? There should have been a squeeze. The DTCC should have called in shares by now. How long can some MM take to pony up shares?
I have learned a lot these last couple of weeks.
