HFBG TRADE FEE OF $200 - What!?!? - Is it just HFBG?
Below is a copy of the email I sent to HFBG company. I use ChoiceTrade as my broker and also noticed Zecco user had this issue on this board, if there are others, please respond to this post with the broker you are using and when you placed the trade.
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Good Morning,
I like your company, I believe in your product and have supported it by buying 550000 shares. Problem is that HFBG is not keeping current with DTCC filings, which does not allow traders to buy and sell this stock electronically, the only way to buy it is by doing it physically, which costs anywhere from $100 to $200. I purchased these shares in July of this year, and sold 500000 on 8/1/11, your files where not in compliance with DTCC on 8/3/11, which is the date that my transaction settled. So it went from a successful electronic transfer to a physical transfer on that date of settlement. My trading account was charged $200 for this trade. I do not wish to alert the public of this via InvestorsHub, which would be my natural response, I'm instead alerting you to this major problem for traders at this moment, which is the reason why the price has been stable for so long after that date, looks like inside trades are the only ones going in or out.
I would very much like to keep my remaining shares in the company. At the moment I can not even sell those shares, my trading account will not allow this due to non compliance with DTCC, they made me aware of the potential fees that would result if I traded them via the alternate physical route mentioned above.
I would also like to request a good faith payment of the fees that I incurred in this transaction of $200. Please let me know how this can be resolved in a private manner. If you require proof of this fee charged to my account for this transaction, I will request it from my trading company and provide it for you.
Sincerely,
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Below is the email I got back from HFBG
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Hello,
First let me say thank you for your time and your email. You are among only a few that are having this issue with Pension Brokers, and an issue that has been brought up on the board, ie., InvestorsHub since June, which has been addressed several times by other shareholders/ investors giving suggestions and advise, along with reasons.
The DTC issue was something that happened that I can not control, and is not necessarily the cause of HFBG - but am working on to try to resolve, it just will not happen over night. My suggestion would be to change brokers in order to trade with out incurring the charges Pension Brokers are charging.
HFBG is not the only stock that Pension Brokers are charging fee's too. HFBG is not out of compliance, it actually trades at normal trading fees with any other retail trader. The only brokers that are having any issues are Pension Brokers, but would like to try to put it back on companies such as HFBG stating that they are out of compliance. Clearly the stock is trading, not because it can't or because of the fee's Pension Brokers are charging putting it at a stand still - again, you are among only a few that haven't moved or changed Brokers. If we were out of compliance, I believe it would be more difficult to trade period, and there would be many other issues.
While I do understand that you had to pay for your trade, and had to incur additional Broker fee's... it is not HFBG that charged you those fee's to do your transaction. HFBG is not going to be held responsible for repaying or reimbursing fee's to you, or to anyone. I would in turn ask your Broker the real reason why HFBG is on their list and then move your stock to another Broker. You could ask anyone on iHub, they will all give you an answer, and suggest what you should do... even the ones that dealt with Pension Brokers within the last 45 - 60 days.
Thanks again. I hope you have a great day...
Kindest Regards,
Jessica Gutierrez
President, CEO
Hall of Fame Beverages, Inc
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