Replies to post #92777 on RCC Holdings Corp fka RCCH

[op9171787]

Jimmy, if any of these brokers that are freezing out trading of rcch get a lot of requests to transfer valid certed shares, they will be in trouble most likely, and will have to resume trading just to keep shuffling things around. the corrupt dtcc generally holds or banks the certs for the brokers (thru one of their subsidiaries or something), but it is possible that some brokers have their own certs, too. the TA is supposed to have the only valid record of every single company-issued certificate, so ultimately the TA is the entity that SHOULD know the exact number of issued shares available.

i dont know that the dtcc is doing an investigation, is it? they tend to say whatever just to keep their brokers out of 'trouble' - i dont trust the dtcc at all.

but pressure needs to be put on the dtcc somehow to resume clearing services, or they will just extend it ad nauseum, as they dont give a cr*p about pinks and other otcs generally.

[ThSeeker]

The bi-monthly short numbers do not indicate there is a huge short issue. These brokers are US so would not their numbers be in the bi-monthly report? I know some want to believe that TDA and Scott and others not trading due to DTC are doing for devious reasons such as they are short but no one see any evidence of that in short reports. Very suspect that this claim is real. Lots of deception in the market but the claims/assumptions that these brokers are freezing to protect their butts vs what they telling doesn't add up when the bi-monthly report is included in the mix. Who knows where the deception lies.

[EarnestDD]

If shares are issued they are either in cert form with the investor or are in electronic form with CEDE.
Brokers and Transfer Agents do NOT hold shares.
jmo

[Anvil]

Research Cede & Co. and you understand who has the certs.

[mknuds]

Just a little info for the (hopefully) new people

Public companies typically use transfer agents to keep track of the individuals and entities that own their stocks and bonds. Most transfer agents are banks or trust companies, but sometimes a company acts as its own transfer agent.

This could explain why whalecatcher got a letter from his bank.

Transfer agents perform three main functions:
(I only included one)
Issue and cancel certificates to reflect changes in ownership. For example, when a company declares a stock dividend or stock split, the transfer agent issues new shares. Transfer agents keep records of who owns a company's stocks and bonds and how those stocks and bonds are held—whether by the owner in certificate form, by the company in book-entry form, or by the investor's brokerage firm in street name. They also keep records of how many shares or bonds each investor owns.

http://en.wikipedia.org/wiki/Transfer_agent