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Microcap & Penny Stocks : Olympus Ventures (OVIS) - Shareholder Cartel
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To: Riley G who wrote ()10/3/1997 1:46:00 PM
From: Infosys   of 65
 
If I take posession of my certificates of stock I create the following problems
1. One reason to take possession of a stock certificate is to get dividends in the form of stock. I don't believe OVIS has declared a dividend and therefore that reason isn't valid.
2. I believe the reason one buys stocks is to invest in ventures which engage in the kinds of business which will return a profit and therefore increase the value of the stock (ie: my investment). I don't see any fundamental value in driving up the price of a stock by taking possession of the certificate(s) so the short seller must buy in at a higher price. I contend that creates an artificial price and only serves me if I want to sell the stock because it has reached a price I am willing to sell at.
3. If you have possession of the stock certificates when you wish to sell, it is like buying/selling stocks without having "real-time quotes". When the price reaches my sell point I call my broker and put in a sell order. Under the new regulations, the settlement date is 3 days (not 5). I now get to jump through hoops to unload the stock. If I miss the closing date (which is in fact out of my control with all the government regulations in place to protect me), my sell order will be executed at the price in effect when the transaction is complete. The reason the sell price has been reached is because I (all of us) forced the short seller to buy in at a higher price.
4. Lets let the next guy take possession of his certificates. I will leave mine on file with my broker so when I am ready to sell I can do so at the time and price which is best for my investments. (Not necessarily those of the officers and directors of OVIS).
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