Since I'm not an American I do not know the intricate workings of the pinksheet market, but I would think that if a company wants to print new shares they would have to do so through the Transfer Agent before they can sell them on the market. Why else is there a need for a transfer agent. So they would be the first to know if shares were being converted or new shares were being printed.
Please help me understand the workings of this crapshoot you call stockexchange lol