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Re: puppydotcom post# 200284

Wednesday, 05/16/2012 1:03:32 PM

Wednesday, May 16, 2012 1:03:32 PM

Post# of 221854
Sorry, once again 100% wrong

2) he pays me a negotiated price to close out my position(s) he sold me.

the broker has ZERO responsibility to pay share holders anything on revoked stocks ...
- puppydotcom

The SEC may revoke the registration of stocks. In some circumstances, the SEC may revoke the registration of a defunct company's stock pursuant to Section 12(j) of the Exchange Act. Under Section 12(j), the SEC is authorized to revoke the registration of a security if it fails to comply with the federal securities laws. No broker-dealer may execute any trades in stocks whose registration has been revoked pursuant to Section 12(j).




http://www.sec.gov/answers/dfnctco.htm

Sorry, but a court ruling in California recently disagrees with that statement.

Nothing like having the brokers over the barrel for FFGO and for many other OTC securities.

Good Luck!

Please research all stocks before investing. My posts are my opinions and are not buy or sell recommendations. Always force abusive short sellers to cover above what you paid. Build wealth for fellow iHub'ers!

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