Tried to get my certs from TDA....can't get them, here is the reason why.
Am sending you this email regarding your certificate request for ***,*** shares of SPNG: SPONGETECH DELIVERY SYSTEMS. Unfortunately, we are unable to process your request. The reason we are unable to process your request is because the shares are chilled per The Depository Trust Clearing Corporation (DTCC). Because they are non-transferable/chilled we cannot get certificates for the shares. This leaves you with 3 options.
Your first option is that you can try and place a trade on the security. You may place the trade online or you may call *-***-***-**** and ask to speak with one of our brokers.
Your second option is if the position is worthless you can ask the broker to request a removal of non-marketable security on your behalf. This option allows you to sell a worthless position to TD Ameritrade for $1. Currently, a $9.99 commission is charged for this process. Please be aware that this option is not available if there is a market for the security.
Your final option is that you can wait for the chill to be removed by DTCC. There is no typical timeframe for the chill to be lifted. Also there is no guarantee the chill will ever be lifted by DTCC. Chills may be put on a security for many reasons. DTCC does not share these reasons with us, as the information is proprietary in nature.
