This is what I was told by Schwab. This OTC transfer agent process is very loose; it's probably not regulated. Remember, the Reps do not want regulations and this is how it goes.
Schwab sold my stock on Friday post split and used a sell short as a place holder. They tell me I am out of the stock but the shorted and long shares (orginal pre-split) still show in my portfolio. The mutliple agents I have spoken with stated that this long transfer process is not unusual for OTC's. They all insist I am out of the stock - but I will feel relieved when it does level. I thought one of the participants on this Message Board indicated that Fidelity is showing his/her stock now as split shares. Then someone said Fidelity wouldn't let him sell? Schwab told me the shares must be delivered or "they" go to jail. I am not sure if the big brokers are involved in short selling, doesn't make sense.
A few brokers asked me why I got into this stock. Greed? Wanting to believe the newsleters? Now I know they are crooks. I was scammed. IF it's too good to be true, it isn't true.
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