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Re: janice shell post# 6623

Wednesday, 11/04/2009 7:24:19 PM

Wednesday, November 04, 2009 7:24:19 PM

Post# of 13368
The way my broker explained it to me, if you have restricted shares in a pink sheets stock, you can just wait two years and call them and they will remove the restriction, no legal opinion required.

If you want it lifted sooner, you are going to need a legal opinion. And that means you have to pay an attorney, and then pay the broker to do that. The broker wants $50 to process such a legal opinion. There is currently no fee if you can stand to wait two years.

Of course, my broker hires a lot of children to answer the phone and email, so this information could be totally wrong. And it would not surprise me if it is wrong. Not the first time, won't be the last time...

I only know this because I received a restricted dividend on some POS pink stock -- and it mocks me every day I log into my account. It's worse than a bad penny.

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