Everything must be traded by physical cert as per the comment below from the Senior Director of Compliance at Etrade. So there should not be any fails or shorts in eigh.pk.
So yes somebody call the cops. 1 share, 17,100 shares, 30,034 shares or 43 million shares; is there an acceptable level of stealing or naked shorting?
And a share imbalance is not the difference between fails to deliver and fails to receive. lololissimo!!!
It is the difference between what shareholders hold in their accounts and what the broker dealer holds in their vault in street name on behalf of shareholders.
And we are about to see how big that imbalance is for Etrade.
If Etrade is short in a stock that must be matched up by physical certificate, that would suggest a very big problem for Etrade.
From: Arndt, Paul F
Sent: Monday, April 25, 2011 8:23 AM
To: 'Eberhart, Courtney'; Dror, Eli; '@tbgfund.com'
Cc: Fioribello, Paul; Bishop, Robert L; Baker, Anthony
Subject: RE: 8000 Inc (EIGH.pk) Shareholder complaints and discrepancies
Currently we hold the following
Fail to Receive 95,167 shares
Fail to Deliver 78,067 shares
Firm name (Physical) 43,196,703 shares
Physical Box 97,766 shares
---------------------------
"Because EIGH is a non-DTCC eligible security, Firm and/or client holdings (inventory) are held in bulk physical certificate form. Trades and transfers in EIGH are settled via physical delivery of certificates. "
Very truly yours,
XXXXXXXX XXXXXX
Senior Director, Compliance
E*TRADE Clearing LLC
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