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Microcap & Penny Stocks : VLVT (was CSMA) -- Ignore unavailable to you. Want to Upgrade?

To: TraderGreg who wrote (489)	11/15/1997 12:12:00 PM
From: KZAP	Read Replies (3) \| Respond to of 11708

I asked my broker for certificates and he said he could do that for me but would be a hassle if and when I would want to sell. What would the process be? I do plan to hang onto this one, but I also want the full story. Thanks!

To: TraderGreg who wrote (489)	11/15/1997 4:19:00 PM
From: Kurt N	Read Replies (1) \| Respond to of 11708

I don't know all the details or any for that matter, but this is my vision of what the new system will do to Shorty and for us. I think the new system whenever it is actually implemented (year 200x), will continue to have the concept of 'certificates' it's just that they are electronic. You won't get the satisfaction of having a piece of paper in your hands. The advantage of digital certificates is that if implemented properly (with enough safeguards) the transfer of shares and receiving your e-certificates could be done in a manner of minutes instead of days/weeks. I see the transfer as follows: Broker <==> TA <==> DTC (where your shares are kept in your name, if in e-certificate form). This doesn't stop shorty from playing his games (he can still naked short via his broker). The game will be much harder for him and he could get squeezed tightly in 1 day with no hope of getting out. (ie. let shorty naked short a stock, and people keep on buying it up over a couple of weeks/months.) Shorty is thinking to himself life is good, but wakes up the next morning to find that 10000 shareholders on the internet have called for their e-certs the same day. He is screwed. Right now with the current system and delays in getting certificates, shorty has some breathing room to do his scare tactics. After getting burnt a couple of times severly with the new system, I think they will give up. Besides, I think the number of shares in name form would be 90+% eventually with the new system which would also ruin Shorty's game. Kurt