No not necessarily. Shares in retirement accts can't be certed but they are REAL.
By certing shares, you take them out of the POOL used by the brokers to sell real shares and shares that aren't authorized, NSS, FTD, COUNTERFEIT and putting them in your name
As far as FHAL shares are concerned, certification had to be completed by 9/29/06. Rufus as CEO locked them down and locked out the pool. So those shares are real
Now we have the NOBO and OBO list of shareholders. These list are saying the DTCC recognizes you as a real shareholder even though you don't have your certs. So I would think that shareholders on this list AT THE TIME have REAL shares
In early spring of 07, Rufus asked shareholders to get there certs. I know Many did get theM but soMe didn't. Why did he do that???? I got My guesses but that would be it
So yes I think if you have your certs and on the NOBO and OBO list then you have REAL shares HUNTER WOULDN'T KNOW ABOUT THAT, he never read the Merger
Another twist is the increase of the share count froM 106 Million to 200 Million. If that increase is recognized as a real increase then all the above is OFF.
For whatever the reason certs are still being issued. I feel it is just a sMart, safe Move to have certs for no other reason is that they are in your naMe and not in a pool
In addition, in the Merger it is strongly advised that all shareholders get there