Bob,
Hopefully someone better qualified than I will enlighten us both.
I either get different answers or hear different things, but my best
interpretation is "3-5 working days". You have to deliver certificate to your
broker; from there, they fill out appropriate forms and re-submit certificate.
I've been told that physically receiving certificate might take 3 weeks +/-.
First you fill out forms w/broker. Forms & certificate are mailed to
registrar (whoever/whatever that is). From past experience of broker
who had previously handled such a transaction, he said the registrar
took his/her sweet little time in getting the certificate to shareholder.
Downside: "Instant" liquidity is lost. For investors (which this thread
seems to be comprised of), this shouldn't be too much of a deterent.
Obviously, traders would never consider this as an option.
On one hand, if IMMM from $.14 to $8.00 the day the mailman brings my
certificate . . . well, not good.
On the other hand, if we don't take some kind of action, MM's make keep
IMMM at penny-stock status 'til helium freezes over.
If there's a market guru out there, may you find us before the weekend is over.
Take care,
David |
