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Realityhurts

01/12/13 10:07 AM

#120046 RE: Renee #120043

It won't happen dead on 9:30 though, if SRGE somehow printed .0001 or .0002 early it would be nasty. I would call the brokerage but, generally you should have the course of the trading day at least to raise the cash, at the very least, a few hours. If one's position was entirely SRGE with no cash, they had better be proactive in raising the needed capital rather quickly on Monday, a market sell here would be catastrophic.

After writing this, I suddenly wondered about one thing. If there is no bid or ask, the brokerage risk department may view it as a worthless security and not account for it, thus, triggering a liquidation of all assets to meet the cash call immediately. I've had cash and margin calls before, just never on a penny stock and, always had time to meet them.

People may not like what anyone negative is saying about SRGE but, in this case, I would go with Renee, unless you want to have a possible forced liquidation of SRGE Monday morning, believe me, they can and easily would do it, easy to feel like your brokerage account is yours until an unknown hand reaches in and liquidates positions, had that happen in the past too.

Try to get cash into your account before Monday to meet the call. Granted, that may be rather difficult to do over the weekend. If you want a chance to meet the call via SRGE sales at respectable versus market sell prices, it is most advisable to do whatever you can to meet it by Monday.
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MrDemas

01/12/13 3:56 PM

#120242 RE: Renee #120043

I believe that to be incorrect. I had a DTC chill charge on another stock. They just let it ride until I sold a stk to cover that minus. And then some more gains.