Replies to post #23124 on Organic Plant Health Inc (fka OPHI)

[skillcraft72]

the company should at least post a msg to us letting us know when we can get into trading again...i hate this lock/lull we are in...i wanna spend some hard earned tax money!!! haha

[ancientacid]

Well, to meet DTC eligibility this form below need to be submitted to the DTCC (parent company of DTC) as far as I know:
http://www.dtcc.com/downloads/legal/rules_proc/eligibility/Eligibility_Questionnaire.pdf

Here's a short description of this eligibility I found. Notice the bold:

DTC stands for Depository Trust & Clearing Corporation. Stocks held by DTC are kept in the name of its partnership nominee (Cede & Co.). Not all securities are eligible to be settled through DTC ("DTC-eligible"). First a little history: DTC eligibility used to be almost automatic after a company cleared its registration statement and its 15c2-11. One of the company shareholders would deposit their shares with their broker, who would apply for DTC-eligibility through a clearing firm affiliated with DTC. Once done, the stock could then be bought and sold electronically through brokers or online. Recently, this automatic DTC eligibility approval by DTC is no longer occurring for many smaller companies going public. Some are having trouble even finding a broker or clearing firm even willing to submit the DTC-eligibility application. The cause of the change is easy to pinpoint, but as usual, the reaction by DTC, clearing firms, and brokerages is not so easy to understand.

Seems like there's a delay with this form I think... And I'm not aware of the reason. I spoke with the Transfer Agent yesterday, and they said it's a subject for the brokers right now... Strange.

I still think it could be that so many things happened at once here (name-change, symbol-change, CUSIP-change and reorganization) so that things are delayed for that reason. I can't see why DTCC wouldn't accept the shares to be traded electronically, and in fact; Some brokers are allowed to trade (mine for instance) and today we saw volume.