Replies to post #11673 on Wall $t Banker$$ (BANKZ)

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Posted by: skinluvr
In reply to: None Date:10/17/2006 1:44:51 PM
Post #of 778826

Ameritrade Halts Purchases of Silver Screen Studios
Traders are piling on shares of Silver Screen Studios Inc. (OTC: SSSU) after it was confirmed today that online brokerage firm Ameritrade is no longer allowing its customers to purchase shares of the penny stock company. While no explanation was given, one reason for the move could be that Ameritrade has identified a share imbalance, where more shares have been bought than legally exist, and it does not want to contribute to this problem further. This action has raised suspicion among the investment community, especially in light of the announcement by Silver Screen to request a NOBO list, a non-objecting beneficial ownership list to help identify a potential naked short position in its company's shares. The current share structure is as follows; 254 million shares outstanding and in the float, with currently 2 billion authorized, but management has said it is in the process of reducing the number of authorized shares to 1 billion. In early afternoon trading, shares of the company are beginning to light up the trading screen, higher by $.0045, or 13.85%, to $.037 on volume of 34 million shares.