Replies to post #129600 on Blackout Media Corp (BKMP)

[dragon52]

well... guess no one gets preferred then huh? eom

[jrod]

Here is a fake scenario with fake names...-

As I am trying to grasp this as well.

Lets say Scootertrader or STTR or whomever... has sold 2 Billion shares to their customers.

At the same time they have only purchased 1 Billion shares themselves.

The other 1 Billion are NSS shares.

Since our brokers report this information for us....

They must deliver a "Shareholders of Record" list.....

If they report the full 2 billion, undoubtedly there would be issues on why there is only 13.8 billion shares issued and outstanding, but there was a "Delivered" number of 14.8 Billion shares getting dividends....(Only one Broker boosts it 1 billion - 5 Brokers boost it 5 billion etc - 18.8 Billion...)

Therefore the desired affect (by the company) is to account for all shares and more importantly force a reckoning for the NSS sellers.

If they only report 1 Billion then obviously shareholders would not get there dividends and this would last about two seconds...lol


To boil it down:

If they tell the truth then they should/could be responsible for providing the dividend or equivalent to the "Shareholders of Record" because the company will certainly not pay out for 18.8 Billion shares...but they are "Shareholders of Record".

If they Lie then 1 Billion Shares worth of "ShareHolders of Record" will be Screaming "WHERE IS MY DIVI!!!" (per NSS seller/Broker/MM or whomever.)

And now they have 9 trading days to accommodate for this.


Is this right or wrong?....anyone?


PS. I keep hearing 138 Trillion number by posters who would sound knowledgable... Understand that this statement assumes the whole O/S is owned.

The number is very high but not that high.

[Nettles]

naked short selling is the when no shares were located to be borrowed at the time of the short sell so long shares weren't borrowed so they will get the preferred....If you had a 100 times as many shares naked shorted as shares held long all those accounts with long positions would get the preferred divvy.