Replies to post #58612 on Starfleet Innotech Inc (SFIO)

[EliteYoda]

DTCSUX - thanks for your insight. It seems clear that the DTC will suspend clearing/settlement services for a security which has trades that are not and cannot be settled. This works both ways, either the firm experiences difficulty in receiving the money into a client account to settle a sale of shares, OR the firm experiences difficulty in finding real shares to deliver to a client account which has already put up real money to purchase shares.

I think the quote below from Schwab basically says it all.

Per the DTC, a global lock is added to positions with large fluctuations. This is what has occurred with the shares of Smokefree Innotec (SFIO). Schwab has halted trading on this security as we are unable to settle trades.

Basically, putting it in a more blunt fashion, the three questionable brokerages that fateful Friday sold half the float worth of SFIO shares to a horde of buyers without actually properly locating those shares and so millions of dollars worth in trading settlement failures would have occurred if it had not been for the DTCC to step in after-hours and put a 'global lock' on the trading, which then, I guess allowed the IOUs (electronic markers), which would have otherwise quickly turned into massive FTDs on the books, to just sit in client accounts while all the criminals looked at each other in astonishment shrugging their shoulders exclaiming, 'I dunno.... oh well'. How else does one explain the historic level of buying pressure that day yet a pps which quickly (in under the first hour of trading) rose from sub penny to 2 cents but then for the rest of all the buying volume remained at 2 cents for the rest of the day? Unnatural. Manipulation. Crony BS. Tsk

GLTA!

$SFIO!