Rob - a lawyer won't help HRNF get brokerages to accept certificates or allow buys of HRNF
I found this. Looks like brokers avoid stocks like HRNF like a plague.
This is the reply from Scottrade regarding CXAC:
Reply Date: 8/31/2009 9:20:09 PM
Subject: Re: Other <<#232342-959671#>>
Dear Client:
Thank you for your e-mail.
CXAC is not available for purchase through Scottrade; however, if you own the stock, you may sell it through your account. CXAC is an illiquid stock that incurs additional NSCC (National Securities Clearing Corp) clearing requirements.
NSCC requires participants to put up capital for security positions based upon the price of those securities. As an example, Scottrade holds a position of 38,000,000 shares of a stock that trades at .002. We are required to put up over $1,000,000 even though the market value of that position is only $76,000.
Please let us know if we may be of further assistance.
Sincerely,
Andrew Carlie
National Service Center
Scottrade Inc.
