1 of the reasons dtc keeps custody of the physical
Post# of 8059
Posted On: 12/28/2013 2:59:19 AM
1 of the reasons dtc keeps custody of the physical certificates of the stocks for which it acts as a super clearinghouse for brokers is to enhance its near monopoly- to prevent almost all trading when they shout "freeze"
but any physical certificate not in dtc (their nominee cede and co's) possession can be traded by delivering the stock certificate to a broker for manual matching of buy and sell orders- for the simple reason dtc has no ownership claim on such
why anybody would be in possession of physical stock certificates for some of the relatively small amounts that have traded since the ice age is another question,unless they are just getting partial fills on their orders.
who would be in possession of hard stock certificates? (other than the Cottons,who sold to Brad-did all family members sell to Brad?, neither Cottons nor Brad would be selling
did any family members other than Bob /Sharon have hard certs after 150 million? shares given to Geo - at least 50 million shares of hard cert given to Geo in 2010-see exhibit in CWRN's complaint)
previous principals of Casino Airlinks Inc.? who could have turned in cert to transfer agent and had reissued in CWRN name? promoters usually immediately sell their shares at height of promotion and hasnt been a promo for a long time, so not likely any promoter
the only separate issues were $30000 worth of stock from the ca 12-26 -08 offering and ca $50000 stock from feb 2010 offering/filing,which I'm sure was sold a long time ago, as evidence indicates it was the only convertible stock CWRN issued-and i dont know the protocol for whether any of these would be hard certs
CWRN presumably didnt issue to vendors etc as most startups do, due to the JVA, and no filed forms for such, unlike the small issues above,thus adding weight to the proposition
but any physical certificate not in dtc (their nominee cede and co's) possession can be traded by delivering the stock certificate to a broker for manual matching of buy and sell orders- for the simple reason dtc has no ownership claim on such
why anybody would be in possession of physical stock certificates for some of the relatively small amounts that have traded since the ice age is another question,unless they are just getting partial fills on their orders.
who would be in possession of hard stock certificates? (other than the Cottons,who sold to Brad-did all family members sell to Brad?, neither Cottons nor Brad would be selling
did any family members other than Bob /Sharon have hard certs after 150 million? shares given to Geo - at least 50 million shares of hard cert given to Geo in 2010-see exhibit in CWRN's complaint)
previous principals of Casino Airlinks Inc.? who could have turned in cert to transfer agent and had reissued in CWRN name? promoters usually immediately sell their shares at height of promotion and hasnt been a promo for a long time, so not likely any promoter
the only separate issues were $30000 worth of stock from the ca 12-26 -08 offering and ca $50000 stock from feb 2010 offering/filing,which I'm sure was sold a long time ago, as evidence indicates it was the only convertible stock CWRN issued-and i dont know the protocol for whether any of these would be hard certs
CWRN presumably didnt issue to vendors etc as most startups do, due to the JVA, and no filed forms for such, unlike the small issues above,thus adding weight to the proposition
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