Here's something interesting a friend received from Etrade when he asked why his WGAS shares were still not able to trade on 12/24:
"Some other brokerages front customers the new shares before they receive them from the agent, which is why some other brokerages show the new shares. Those firms take the risk for the client during this process. Etrade and a lot of other firms do not take on this risk for clients. Etrade accounts are not updated until the agent delivers the new shares. At this time we do not have an expected delivery date from the agent."
His question to me was, with the huge AS compared to the small OS after this reverse, why in the world has WGAS not provided the shares to these brokerages yet? Also, what is the potential risk for the brokerages? I don't have an answer, does anyone here have one???
