Janice,
Any idea how long the S.E.C takes to render a decision on how to audit their " Intell. Properties". I think a 10K and 2 10Q's would be nice right now. I think waiting for the numbers has gone on long enough.
Ah, Marchese...Not Marcasse.( ooops that songs gonna bite Icky right in the buttocks) Hmmmmm, now that the spelling is corrected, maybe now their could be focus on how he claims to have covered Andy Mann's position at 5/8 with out a print and how he could have done that with DTC frozen in the U.S. and Canada. I do not see a way on how that could have been done, legally. OH UNLESS they have the same BROKERAGE FIRM, oh I get it now.......But, why would the firm allow it? What kind of arrangement did they have with the brokerage firm that allowed this swap to happen and why did this brokerage firm open themselves up to so much liability? What did Marcasse use as collaterial. Cash? At this price
1,200,000 X 1.5 (current)=$1,800,000.
So, if Marcasse covered Mann at 5/8, $0.625 X 1,200,000= $750,000
That means marcasse is currently underwater by $1,050,000. What are the Canadian margin requirements and what is his current situation with his brokerage firm. Something doesn't make sense here. That would require at least $3,600,000 in margin coverage. From what I hear that is only a drop in the bucket for Mr. Marcasse. |
