DGMAC,
I'm not Bob, but, I'm a EUTO shareholder and we are doing the very same thing over there- CALLING FOR YOUR CERTS!!. Our problem at present is that 50 million or a fraction thereof, was illegally sold back into the market by four companies that were to use the stock as collateral for a loan. Long story short, legal action has been started and the 4 companies have 30 days (from Dec 1st) to come up with those shares so they can be retired. There is one poster (sort of the leader of the share count if you will), that everyone has emailed their share count to. Before the leak of the other shares, it was highly accepted that the SI shareholders alone owned the float. We were so close to the "squeeze". What's a squeeze?
Most of you know, but, for the benefit of those in the dark, I'll go over it. Simple explantion is that the MM's (market makers) have X number of shares to sell. If no one (shareholder) takes physical possesion of their shares when they buy, then the MM's can keep selling the same shares over and over again to others, ie., naked shorting. How? Because there is no way to keep track of who owns shares when they are in street name. In order to keep things under control (for the MMs), they have to manipulate the share price to keep it in a range that they can manage hence the unrising share price! Others on this thread can elaborate more on the specifics of the manipulation.
What does this mean for NETZ shareholders? Simple. Call for your certs!! By getting the shares out of streetname, you effectively reduce the number of shares MMs have to short with. A point is reached when someone calls for their certs and the T.A. calls the MM who sold the shares and says cough 'em up. The MM at this point has two choices. Go to the company and work out a deal for more shares (most companies of integrity would not go along with this), or.........you guessed it! They gotta come into the market to buy...US!!. And what happens? Price rises bigtime!!
The above is only an explanation with an example. I have NO IDEA if this is going on with NETZ. Strictly MHO.
But, you do see the value of calling for your certificates no matter what penny stock you own.
Theo |
