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EliteYoda

07/04/11 1:42 AM

#44628 RE: Vegas Kid1 #44604

Vegas Kid - Thats what I was asking you about what you meant with that statement, it is not valid in my mind. Basically, since you cannot get an open order onto the 'market' (whatever liquidity is out there in the ether trading SFIO that day) the shares do not exist to the market so cannot change hands (ownership) however the shares that you 'own' (awaiting settlement OR if already settled but on ST) are still part of the float so those are legit shares (just that trading is blocked) SO the whatever the current price is on the open market, that price will be multiplied by your number of shares that you hold and that dollar amount will be the market value. However, I must mention that during this temporary phase while trades are sorted out, shares are accounted for etc, the only trading will be occuring between those with real money who wish to buy (only) and those who are eligible to sell (all settled shares in full allottment) AND who are not on ST. Therefore, the 'market' during this time will be very volatile and erratic on low volume because there usually is a large set of buyers and sellers probably all over the world trading this OTC stock every day but for Tuesday only a subset of sellers will have the only available shares for sale among a sea of bidders so even though you may see the current price * (multiplied) by your share count to give you X dollars in any given moment when you refresh real time, because you cannot place your shares on the 'market' for sale, your shares will not influence the bid/ask and so you cannot take advantage of whatever the current or last price was (until you can successfully place those shares onto the market). To make a long story short, you will see your SFIO investment value fluctuate with the last/current price however since you cannot submit an open sell order, those value fluctuations will mean nothing for you until you can trade (DTCC block is removed and/or ST opens up an alternate clearing route just for SFIO by Tuesday). Obviously, it is your decision what to do with your shares just know that attempting a transfer on Tuesday or converting them to certificates (not even sure if allowed for OTC stocks) may not even really work out IF they decide to get trading in SFIO going through ST again before you can somehow get your shares back on the market to trade; imagine you transferred Tuesday but takes four days or something to clear but by Wed or Thurs ST already is trading SFIO again (you never know). It is difficult. I would wait and watch and see what happens on Tuesday and then decide to either wait it out in ST or immediately transfer them, dont dilly dally in between decisions, do one or the other Tuesday after you call your broker and discuss the best option with them.
cheers

GLTY