Posted On: 10/29/2014 7:43:42 PM
Post# of 2155
"Now, what I don't quite understand from that quote from the s-1A is the part about both "only shareholders beneficially holding shares of mCig on the record date shall recive shares of vitacig per this distribution. Following the spin-off, these share are held by a total of 68 shareholders of record. There are obviously more than 68 shareholders of record, so maybe someone else can explain that part? "
I think I can explain that part - the stock is held (in most cases) in the name of the brokerage which is referred to as the "street name": http://www.sec.gov/answers/street.htm
Street Name
"When you buy securities through a brokerage firm, most firms will automatically put your securities into "street name." This means your brokerage firm will hold your securities in its name or another nominee and not in your name, but your firm will keep records showing you as the real or "beneficial owner." You will not get a certificate, but will receive an account statement from your broker on at least a quarterly and annual basis showing your holdings."
I think I can explain that part - the stock is held (in most cases) in the name of the brokerage which is referred to as the "street name": http://www.sec.gov/answers/street.htm
Street Name
"When you buy securities through a brokerage firm, most firms will automatically put your securities into "street name." This means your brokerage firm will hold your securities in its name or another nominee and not in your name, but your firm will keep records showing you as the real or "beneficial owner." You will not get a certificate, but will receive an account statement from your broker on at least a quarterly and annual basis showing your holdings."
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