Spotlight Capital Holdings Inc (SLCH)

[Lesson Learned]

I'm throwing this out just to be transparent about my intentions. I have been trying to transfer my present brokerage account to another broker without much success, in fact I've discussed this with two different brokerages, Just2Trade and Etrade. My present broker ING Direct charges extremely high low-cost surcharges on anything under $1.00. An example, if I sold AAVG at .01, the surcharge would be $7,650!!, and thats just on the sell, you also get hit when you bought. I've been told that due to these being sub-penny and with the chill, if the transfer did go through it could take 10-12 weeks. This could tie up my account for 3 months, I don't think so!!

I am left with the option of selling and rebuying at the new brokerage, this is still a huge savings if I can still get shares in the mid-30's. I certainly wouldn't dump 5 mil shares out at once and when I did, it would be at the ask in smaller blocks. Also if I do, I will sell some, transfer the funds and rebuy before selling further shares. My luck, news would come and be left with no shares..lol

I've made no decisions, just contemplating at this point. ING Direct/Sharebuilder has been bought out by Capital One and I see nothing good coming out of that takeover...

Just wanted to throw this out out there.