Replies to post #26979 on Mesa Offshore Trust (fka MOSH)

[Balls of Iron]

Apparently . . . the Market Makers can buy the units to pocket the "dividend" without the Transfer Book.

They're like God . . . they do whatever they want.

[GO MOSH]

you ask "why are shares trading as if there were no record date?"

Note that the ex date in the link provided by Balls' post #26975 is 3/25

http://www.otcbb.com/asp/dividend.asp?sym_id=mosh

open this link for explanations of "record date" and "ex dividend date:
http://www.investopedia.com/articles/02/110802.asp

The second paragraph below the table says:

*Note: Different rules apply if the dividend is 25% or greater of the value of the security. In this case, the Financial Industry Regulatory Authority (FINRA) indicates that the ex-date is the first business day following the payable date. For further details on dividend issues, search FINRA's website.

So this dividend is subject to a different rule because the amount is greater than 25%. Otherwise the ex date would be the standard 2 business days prior to the record date instead of 1 day after the payable date. All the Trustee did here was establish the record date, and then its up to the exchanges (in this case the OTC Bulletin Board) to set the ex date. THIS IS AN OLD FASHIONED "FREE-FOR-ALL" and there's going to be some fat lips and black eyes!!! IMO Other opinions?