i'll use exph (a stock of a co. i've been invested in since late summer 2008 as an example)
like many co.s' expo came public via a r/m into a shell (i've since learned that most shells are littered with ftds .. most ceo's know their business like the back of their hand .. but are not experts in securities .. the callous response is they should be the reality is that expertise costs big bucks that few can afford on the micro cap level)
anyhow .. exph started trading on the pks/otc in june 2007 and for 2 years and 1 month FTDs showed .. link to input info
scroll to the bottom and notice that the last time ftd info was reported was on july 30th 2009
why does this matter ..
a few reasons .. first like many legit co.s whose stock has been used by X entity/s as an ATM .. exph's stock was both run twice in 2009 (summer and sept) and *shorted* daily on 4 to 8 ticks down avg volume 40M per day .. avg *short* done 10M per day .. most folks were very happy .. i was perplexed based on the *volume blowing out* and the *regularity* of the *shorts/sell* and *posts* made re: ownership
moving forward .. the *turn* came at 11 am on 9/15/2009 .. meaning those who'd *created* the runs .. and benefited from the *short* had a new goal .. to cellar box the stock .. they did this over the next 15 months .. all the while FTDS were MIA (missing in action) meaning they weren't showing via the feds .. which made no sense since in those 15 months exph did record setting volume (8 BILLION)
that started a long chain of telephone tag calls with both finra and the SEC
approx one month back .. i finally had a return call from an sec employee .. who imo was as honest with me as possible
she flat out explained why the OTC had been originally set up (think under the radar manipulation) .. it was a wide ranging conversation .. including such diverse topics as sec employees having access to rt level 2 (they don't so when talking to *retail* they can't even pull up the screen to observe re: a specific stock)
but the most important aspect of that call for me was the answer re: exph's MIA FTDS .. turns out .. as an unregistered OTC co. (electively reporting) the SROs' don't have to *report* FTDS on exph
so when you read the 1000s of posts that because they don't show they (ftds) don't exist .. you now know otherwise
btw .. in july 2009 the last 2 days *reported* set of ftds' on exph ..
20090728 30216E106 EXPH 19321 Expo Holding, Inc. Common Stoc 0.02 20090730 30216E106 EXPH 4272340 Expo Holding, Inc. Common Stoc 0.01
== 4kids all jmo
10/5/07 -- there are no coincidences here ... oh and like many other longs .. not selling at this level --