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E) From the various SFIO message boards including this one, evidence that MANY buyers had bought tons of shares on the move up on that Friday via ETrade, TDAmeritrade and ScottTrade. Each of these brokerages use DTCC for settlement/clearing. Therefore, it is apparent that most of the phony air shares sold (roughly half the float) were through these three brokerages and so DTCC that Friday night placed a lock on the stock to protect themselves from FURTHER exposing their automated CNS system to faux shares sold by these 'participants' to investors/traders.
If you can't see that then you aren't looking deep enough. Thats the very problem. It comes down to them needing to cover and I mean actualy have to buy shares in the open market to clear these trades. Scottrade says I have physical shares in my account, I say BS, its vapor, an IOU they are allowed to do beyond the 3 day rule. Boy they created a mess in this one.
I wish Roth would allow the T/A to issue us our paper certificates and a 'one time discounted rate' due to this train wreck. Talk about screwing with sasquash? Thats where a long list of legal actions would muddy the waters. Like buying a house and after closing you find out the seller already sold that house to 10 other people. My neighbor tried that and wound up front Page of the buisness section Birmingham news. He was given a date to turn himself in to serve his Federal time. Yea sell a $700K home a few times and see where that gets an individual. But let the DTCC allw such ninsense, and they get to change the rules.
And what if the lock were lifted and we ran the stock up from these low prices, I would dump a handfull of other stocks to buy SFIO. The pps would sky rocket and the 80MM vapor would cost $Millionsd of dollars. The DTCC would not allow their Buddies tak a bath on a stink pink. This would make head lines, cause legal actions galore, a class action for sure. If the lock were just lifted with Millions being vapor and who really has real shares to sell, the buying will explode as the pps going up will have no resistance. I'd place a $15 price on mine that I'vce been sitting on for years, The free ones I've worked so hard to be free would sell North of $10 and the DTCC knows it. This is not rocket science.
What I see is this lock lasting till they actualy buy enough shares cheap enough to clear all these trades and cover their Broker/MM buddies. Or SFIO goes ch13 and they cover at the basement and actual make bank.
This , in my opinion, is an insult to personal property rights. The DTCC changed the rules so as to protect their buddies from taking a major bath.
I limit all my investments in all my pink plays so I'm not stuck that bad, a few grand, but those posting they own 30+MM shares.....Damn! I'd have a security Attorney in this big time. My dollar amount is not worth the fight. I've had two security Attys turn their nose up at me. My elected officials turned their nose up at me. I never got a response from mine as others at least got a reply e-mail, LOL Thats the down side of being a GOPer in the South. They don't need to put out the effort to stay in power arouind here.
Dont get me wrong, I wish I had those funds I used to buy SFIO on that infamous day. I'd run two other pink plays big time time this week. I got twop that just need a spart with a little ASK slapping.