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Microcap & Penny Stocks : THNS - Technest Holdings (Prev. FNTN)
THNS 0.00Jun 7 5:00 PM EST
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To: TechnoWiz who wrote (2504)7/31/1998 12:15:00 PM
From: MskiHntr  Read Replies (1) of 15313
 
To everyone, reference my post#2461 and SHORTING BBs...

My Canadian contact provided the following information:

A. Canadians can short over-the-counter stocks and there doesn't have to be an uptick.

B. The client should request the broker to borrow the shares for delivery.

C. If the broker cannot borrow the shares, the client can still sell short, BUT, the client now has the risk of having the short position bought in for failure to deliver the shares against the sale.

D. If the stock in question is .50 cents or more in price the collateral required by the broker is: 200% of the market value.

E. If the stock in question is: less that .50 in price the collateral required by the broker is 100% of the market value PLUS and additional .50 cents per share.

If the Canadians want to short, let them. The amount of capital they have to tie up is huge in relation to the potential short term gains.

If you have any questions I will try to answer them.

Best,

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