SEXI: Mostly Fact, A Little Fiction, Not Vicious Attacks Message Board

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Microcap & Penny Stocks : SEXI: Mostly Fact, A Little Fiction, Not Vicious Attacks

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To: JBINWC who wrote (6854)	11/11/1996 2:40:00 PM
From: Skeeter Bug	of 13351

>>what exaclty does rescinded shares mean? if those shares have been sold, does it mean that the people who sold them are liable for the shares?<< jb, i don't have much experience in these situations, but here goes nuttin'... i would assume that any shares not sold would be declared null and void. a poster a while back said that all illegal shares sold would be counted as a short position. they would then have to buy back shares. even if huttoe is buying shares back at this very moment - much cheaper than he sold them for - i don't suspect that the sec will let him keep the difference. if the person can't pay to buy back the shares - duh, i lost the $9+ million last week, sorry - it seems that the brokerage may be able to be held liable. as i understand it, one major reason they exist is to make sure that the buyer and seller have legal shares to trade. good luck...

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