Replies to post #188859 on Plastic2Oil Inc (PTOI)

[ffdan]

"I would hazard a guess that any failed to deliver Reg SHO issues are people selling stock that is past its restriction period but still has a legend. Call it abusive long legend removal :)"



Consider that many brokerages are not accepting the certificates because of the OTC listing.
If an investor was selling the shares short, would it be possible to force a brokerage to accept the certificates to cover the short sales?

[jimmenknee]

Apologize but I thought you followed the posting string that provided that information since I was deconstructing your original assertion...

hmmm >> ok >> just exactly how is that achieved (process)

specifically

Pretty straight forward process:

1. Share certificates (certs) with restricted legends are deposited with a broker.
2. Client fills out appropriate forms to get the legends removed.
3. Broker contacts corporate counsel and/or TA.
4. Broker gives client the ok to sell.
5. Client sells shares. At the time of sale, certs are still at/or between the TA and the broker (some cases broker sends certs to TA before a sale, sometimes after a sale).
6. At this point the sale is reported as a FTD.

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