THE only thing that can be said on this is that the whole system is in for a rude shake up over procedures and checks and balance system...
this also going to help validate the s.e.c point of file or be pushed to grey sheet boards too... lack of filings being updated and lack of trading system in place with no transfer agent are not pros working for megas's cause right now...
but next time you place an order and it takes 5 minutes for the broker to get your order in,than you can thank mr. megas for providing a quick and accurate market ... people are so blind to get money here that they dont even realise in the long run what they are really asking for.. let's hope you never buy a stock that is going south and the broker tells you that the market maker has a call in to the transfer agent to see if those shares are valid.. EXCELLENT POINT SIR..
Not true. The current system in place was not set up to make this next to impossible. If you read up on the procedures, you should see the built-in holes. The only way to do what you believe is in place right now is to not allow the holder to trade until the cert clears thru the TA. That won't give 100% guarantee, but it'll be as close as you can get to it.