Replies to post #41972 on Zicix Corp (ZICX)

[BigBake1]

They were ILLEGAL SHARES, they were sold into the market, it is on the company to buy those illegal shares back. The DTCC is not going to lift the suspension until someone foots the bill in cleaning up the mess and removing the illegally issued shares. Once again it is in the SEC and the companies court to fix it. The market is littered with illegal shares, this is not hard to understand, this will no longer trade until then. The likely outcome is permanent loss here as nobody will ever fix this as more people are likely to be charged with misconduct and avoiding their fiduciary duties to protect the shares here.

[terry_mathews]

Nascow, explain in detail how you propose to remove these shares? Would you accept the DTCC simply stripping accounts of shares? Understand, if they strip shares they would remove them from your account. You can't unwind the trades because money has changed hands multiple times and it would be impossible to rectify.

For shares to be retired they need to be purchased and retired. You could do that by forcing the counterfeiter to buy up the shares and retire them as part of a civil penalty or the company can sue them to do so. Either way, it is not the DTCC's issue to orchestrate since they did nothing wrong and can not take action that is not directed by the SEC.

This is fraud that was in part created by Graham and the company and it is their responsibility to address it. The trading pattern was clear that shares were being diluted to the market and Graham did nothing for a long time, allowing it to happen from right next door despite the warnings.