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Microcap & Penny Stocks : Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS) -- Ignore unavailable to you. Want to Upgrade?


To: Kenny Low who wrote (55035)11/30/1999 3:07:00 AM
From: mtnres  Respond to of 55532
 
Never say never!! It could be bought up as a shell and become the next eBay!! I doubt it but what the heck. Especially since whomever bought the shell would have to cover all those short sold shares ") I have my certs posted by the computer as a constant reminder that when I get back into trading to do my DD and prepare for whatever the roll of the dice brings. It's posted right next to my "If you have a gambling problem call..." sign. This past year has been an attempt at my own side business which nearly tossed my marriage in the gutter and didn't make any money either. Guess it's back to the stocks in 2000. Happy Profitable New Year to all you former OVIS-RMILers still around. Hope to see you all more next year.



To: Kenny Low who wrote (55035)12/1/1999 11:34:00 AM
From: Mad_Mouse  Respond to of 55532
 
Ken, I e-mailed Ameritrade and they sent a reply today. This is what they said:

Dear,

There are three steps involved to have a position removed from your account as worthless.

1. It must first be determined if the stock is trading. The most practical way to determine this is to place a market order on the shares with a broker, at the standard broker commission. As a courtesy, if the proceeds from the sell are less than the standard broker commission for a market order, we will adjust it. Example: You sell 100 shares of ABC at 5/32, the proceeds will be $15.63, and the commission will be $15.63. If you sell 100 shares of ABC at 7/32, the proceeds will be $21.88 and the commission will be $18.00. Commissions will only be adjusted on market orders.
If the order executes, then the position is sold and no longer in your account.

If the trade does not execute:
2. Then we must determine if the stock is transferable. If it is transferable, then you can request to have a certificate issued, and the fee is $15.00.

If the stock is not trading, and not transferable:
3. Then we can request that an escrow receipt be issued for those shares. The position would be removed from your account, and the receipt issued to the shareholder. If the security becomes viable later, you may be able to reclaim those shares with the receipt and have them put back into your account. There is no fee for this service, but it is only available if the security does not trade, and is not transferable. (This is not available for IRA accounts)

To have an escrow receipt issued, Ameritrade does need a Letter of Authorization signed by all account holders. The letter only needs to request to have XX (number of shares) (of security symbol) YY be removed from the account, and an escrow receipt issued in their stead.

If you have further questions, please reply to this message or call Customer Service at (800) 669-3900 option 2. Please include the original email(s) if replying to this message.

Thank you,