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Re: frankie_fillet post# 73185

Thursday, 06/30/2011 11:36:19 AM

Thursday, June 30, 2011 11:36:19 AM

Post# of 167466
Hey Frankie, here is the reply i recieved from tda about not being able to buy vmgi.

"VMGI has made the decision to only allow its stock to be traded via physical certificate instead of the modern electronic book-entry system. When companies convert to physical certificates only, it becomes extremely difficult and, in some cases, impossible for brokerage firms like Ameritrade to obtain shares for their clients. Converting to physical delivery also increases the costs associated with transferring ownership of common stock between buyers and sellers. To reduce the risks that transactions cannot be settled timely and the added expenses associated with physical delivery of shares, Ameritrade has made a business decision to no longer accept orders for stocks that only trade via physical certificate. However, you may still sell the shares that you currently own. I appreciate your understanding in this matter.