Unfortunately it has become a favorite of touts to counter the fact that a chill cannot be easily lifted or Global Lock for that matter. But when you show them the notices that it was never in a Global Lock but certainly is in a Trade for Trade status the argument is the notice was taken down obviously. It has now become a game of transparency as many view the DTCC system as not clear enough to understand what is really happening. Now throw in Mastertraders.com which claims to have a search feature that tells you which securities are chilled or not and things really get screwed up, the database is wrong. So now you have another entity putting out bad information.
The DTCC may have to engage making a report for shareholders since the participant notification system is too difficult for the average OTC investor. It is a sad state of affairs that you may have to use crayon to get the point acrossed that something is chilled or on a global lock. Not to mention the now sleazy CEOs playing off the ignorance of how the DTCC notification system works and getting touts to spread the bad information.
The most puzzling ticker to date is CBAI, it claims to be under a chill in its 10 K and of course it claims a previous chill that was supposedly lifted. What is certain is that anyone using Penson Clearing cannot trade that stock, it is unknown if Ameritrade is allowing trades. Interestingly enough in their 10K they got shook down by their financiers to cough up the additional 10% that it now costs for the NSCC haircut to bring new shares to the market. That started October 1st and is now at 20% for such new deposits.
So it appears in the OTC you can loan money in exchange for shares at par value, take 20% for the cost of bringing shares to the market and get your additional 10-40% for interest on top for a solid 30-60% interest rate for the "loan". All at the cost of shareholder equity.
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