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Microcap & Penny Stocks : ICVI (now MTEI) -- Ignore unavailable to you. Want to Upgrade?

To: Doc Horror who wrote (10447)	6/9/1998 12:34:00 PM
From: lightfoot	Read Replies (1) \| Respond to of 11850

Forthright or Janice might be able to answer questions about shorting! Let's say that we are being shorted to death right now... it is my understanding that the shorts have to cover when a name & symbol change goes into effect... so at what point would they have to cover?? Does ICVI put out a release and say "...the symbol change will go into effect on such and such a day" and then they would have to cover by that day, or do they just have to cover before the change happens without really knowing when it will be completed?? Never been in a stock that has changed symbols... can anyone enlighten me??

To: Doc Horror who wrote (10447)	6/9/1998 12:35:00 PM
From: Lee Walsh	Respond to of 11850

Answer to your question Doc. It is my understanding that shorts do not have to report and cover unless the Cusip # is changed. Someone needs to contact ME and find out whether or not they are going to do this. Lee. Here's an actual question... hard to believe, but true... Let's say that we are being shorted to death right now... it is my understanding that the shorts have to cover when a name & symbol change goes into effect... so at what point would they have to cover??

To: Doc Horror who wrote (10447)	6/9/1998 12:39:00 PM
From: justaninvestor	Read Replies (1) \| Respond to of 11850

Doc - I was just involved in a stock that went through a name change. There wasn't a big short situation so it really wasn't an issue, but there never was ANY talk about how whatever shorts there were out there would have to cover. I phoned 5 different brokerages last week and they all told me that the shorts DO NOT have to cover because of a symbol change. As to when the symbol will be changed, we are at the mercy of the NASDAQ bureaucracy. It took 3 weeks for the company that I'm in. It can take 3 days. It can take 6 weeks. It's got nothing to do with the company involved, just with the person who's handling the case. bbruin "Hold long, Be strong & Don't whine"