Scottrade puts the most restrictions on pink sheet stocks and rumor is that they have chosen to use picksheets/OTCmarkets.com as a decision maker or excuse perhaps?
I have not been able to verify that one way or another. Scottrade has been fined 5 or 6 hundred K by the SEC in the last six months for consistent failure to locate shares in the pinksheets and it's my understanding Scottrade is contemplating exiting the "pinksheet" brokerage completely.
As a former account holder @ Scottrade I've been given as many excuses as there are days in a year for their restrictions and not once have they said it was because of an Image on Picksheets/OTCmarkets.com but it wouldn't surprise me if that was the truth. Generally, they claim there is a problem with the availability of those shares but you can sell them if you have any. That only benefits the market maker and anyone short on the issue and is in a direct conflict of interest with their own accountholders that hold the issue because you can't even average down if you want to. A part of the reasoning behind the fines I'm sure.
I thought that there were some trading platforms that did not allow the trading of a CE stock. Is this incorrect? If it is then I really don't care where they are published as long as they are published.
If restricted trading is the case, then we need the info published on pinksheets to allow for more exposure and more volume. AIMHO
If restricted trading is the case as a result of picksheet/OTCmarkets.com publications then I believe there absolutely is cause for a class action suit either against the restrictors (Scottrade?), picksheet/OTCmarkets.com, or both.
An inconveiniant Truth.
That's what RT is trying to get accross IMO without getting into it to deep.
otcmarkets.com, formerly pinksheets.com just publishes sec filings of entities such as Magnegas to appear official and merely broadcasts rating images to generate fees from other entities it picks to broadcast in order to change the broadcast!
The question is what gives them the right to do that and who has time to deal with a non authority that just butts into your business ??? That's inteference but I'm sure a lot of companies with nothing better to do give in and pay the ransom. That really makes zero differnce as to the fundementals of the company in the end.
In summary there is a restriction on buying this issue through Scottrade but no restriction on selling this issue through Scottrade and that does hold this back so the sooner Scottrade exits stage left the better for the whole market and IMO the SEC agrees.
Let me add that RT has stated none of this affects the day to day operations of Envirotek, ENTK.
IMHO we stand on solid ground while we endure the stranglehold on the markets sentiment by a few dominant entities.
RTs 1st priority has to be the day to day operations of the company and not the day to day whims of inadequate brokers and private agencies charading as authorities.
We are in good standing with the SEC and TA is not gagged.
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