So we have no naked shorting on CMKX or their Dividends?:
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By: mike777
31 Jan 2005, 03:24 PM EST
Msg. 149401 of 149403
(This msg. is a reply to 149329 by korby5.)
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Korby5 and all CMKX'ers & Gemm holders:
I was transferring from HarrisDirect to E-Trade all my CMKX, and my 3 restricted sets of dividends. They did transfer the CMKX but they backed out my transfer from Harris to E-trade of just the Dividends. Funny how
everything was accurately added into my account last
week after a 2 week transfer period, then I looked today
and just the divvys transferred were gone.
I called up HarrisDirect and they claimed they had to get hard certs for CIM and USCA and mail them to E-trade for deposit. But they can't transfer restricted shares electronically.. duh? Then why did they do it before?
But the GEMM divvys they said they can't be transferred at this time at all. Either a re-structuring was going on in the company.. or something else. I asked could a forthcoming dividend stop that too or even a merger? They said yes.
So after the dividend comes.. I can then transfer it..
and I must re-initiate the transfer protocol all over again.
They said it's not automatic despite my earlier request.
Somehow either GEMM has frozen transfer of assets during this period..or the brokerages can't transfer now because of the dividend... or they are both lying and they just can't find any real shares IMO.
They said it could take typically a 1 or 2 weeks to get the certs and deposit them... So I said DUH>> it's been over 2 weeks already.. couldn't you have seen they were clearly restricted? I can.. and you can't see that but now you see it and guys are the professionals? You mean you just now recognized they were restricted and you can't transfer them normally? So why aren't they done now.. it's over 2 weeks?
No answer... Then the usual - "well sir the transfer is
in progress."
As usual.. this has got to be the biggest mess trying to
transfer these stocks.. you'd think they'd at least notify
me. But nothing from either brokerage??? TWO MAJOR BROKERS and they fail to say they backed out a transfer, must less
that the certs needed would take OVER 2 weeks?
Any thoughts?
AI
