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Thursday, October 20, 2011 1:14:03 PM
Your article concludes with:
“That means-margin account holders could lose their right to vote and it doesn't seem right to some issuers that investors should get penalized for buying shares on margin.”
My concern with margin accounts is not so much with who gets to vote on issues. The article touches upon the fact that in margin accounts, shares can get "loaned out" and MMs loose track of just where those end up. The fact is, those same shares, once loaned out, can be loaned out indefinitely in "wash trades" amongst MMs to avoid the 13 day rule, which would bar them from trading in a "short" security, if not settled in 13 days. Thus, the MMs always have enough inventory to cover trades, short term, and monthly reports by FINRA will not show the security short. It's rare that heavily shorted cash starved pink sheet companies can garner up enough cash funds on hand to even send out proxy materials and vote on something. Through it's actions just voted on, Scott has put SRSR on track to fund required drilling operations and give shareholders a reasonable, if not incredibly sizeable ROI for those who are patient, IMO.
Easy
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