Replies to post #54594 on Starfleet Innotech Inc (SFIO)

[newmedman]

That's why I am questioning these actions by the DTC.... How can it be allowed to happen in the first place. Is every sharecount mythical? The people that clear the shares should be the most accountable IMO. They are covering their own tracks by locking these securities...... and taking our money from us in the process.

I don't think it's wise to gamble on any pink any more, but I'm stuck with this one...... so I'll go down kicking and screaming... It's not like I can sell and move on.....

[gadawg22]

This reminds me of a scene in Casa Blanca where the corrupt police chief shuts down Rick's bar due to gambling as the police chief receives his cut of the gambling profits.

[pitadog]

I don't think you fully understand the terminology of "unregistered" shares. For a stock to become registered, if not issued as registered (and there are ways to to issue registered shares, i.e. S-1 shares to employees is probably an example, but don't hold to it)the shares are supposed to be fully aged per the SEC rules, then an attorney letter from the issuing company must be sent to the T/A and they remove the restriction.

I don't know all the rules and my memory is not as good as it used to be, but the above example certainly applies for getting dividend shares registered...

Naked shorting, by anyone other than MM's is illegal. MM's are only supposed to naked short for 3 day max. period, then have to cover for clearing. They get this advantage in order to help maintain a liquid trading market. I have some issues about it, but without that rule, all trades would be handled like a grey sheet stock....virtually no liquidity of the stock. A very terrible situation for stock holders.