Replies to post #6525 on My Vintage Baby Inc. (fka MVBY)

[Beachbum32]

There was a scandal called a "Pump and Dump" that another company was conducting on MVBY along with several other companies, they bought in on these companies at very low prices and started to promote the company through email and other advertisement schemes in order to raise the prices. All of these companies were worthless at the time and were hemorrhaging money, but they told investors that they were awesome deals and that the companies were going to sky rocket.
MVBY and the other companies hired the company for some purpose or other right before they started doing this (sorry, don't remember why they hired them in the first place), but it wasn't really MVBY's fault or the fault of other companies involved. If you look back through the posts from I think 3-5 months ago you should be able to find the actual information, I'm too lazy to check all of that to get you the info. I just remember that MVBY came under suspicion because of it so their trades got restricted.

[eyesrolledback]

Not sure anyone knows exactly why. DTCC supsending electronic clearing of the shares months ago and then brokerages start following suit.

Several factors could be:

1) Trading below some share price threshold for too long a period.
2) Brokerages don't want to invest time in paper certificate receivership since the electronic trades no longer clear.
3) MVBY being named in an SEC suit (granted, not as defendants, but named just the same)
4) Non-compliance with exchange listing requirements on Pinksheets resulting in downgraded status.

Any or all of these reasons could be contributing factors... I'm sure there are others, but MVBY to date has not been able to get some concrete response from the DTCC where I suspect most of the issues originated.