Pretty crappy deal IMO Where will I be able to
Post# of 1288
Posted On: 02/07/2016 1:42:55 AM
Re: shadywizzo #29
Pretty crappy deal IMO
Where will I be able to trade shares of CEN common stock?
There is no current market for shares of CEN common stock. A market maker has agreed to file an application with FINRA on CEN’s behalf so as to be able to quote the shares of CEN’s common stock on the OTCQB maintained by the OTC Markets Group. There can be no assurance that the market maker’s application will be accepted by FINRA nor can CEN estimate as to the time period that the application will require or that any buying of our shares will ever take place.
If CEN becomes able to have its shares of common stock quoted on the OTCQB, CEN will then try, through a broker-dealer and its clearing firm, to become eligible with the Depository Trust Company ( "DTC" ) to permit its shares to trade electronically. If an issuer is not “DTC-eligible,” then its shares cannot be electronically transferred between brokerage accounts, which, based on the realities of the marketplace as it exists today (especially the OTCQB), means that shares of a company will not be traded (technically the shares can be traded manually between accounts, but this takes days and is not a realistic option for companies relying on broker dealers for stock transactions - like all companies on the OTCQB. There are no assurances that CEN’s shares will ever become DTC-eligible or, if they do, how long it will take.
Upon getting a trading symbol, CEN will attempt to become listed on the NYSE MKT, although no assurances can be given as to the likelihood or timing of obtaining such listing.
Where will I be able to trade shares of CEN common stock?
There is no current market for shares of CEN common stock. A market maker has agreed to file an application with FINRA on CEN’s behalf so as to be able to quote the shares of CEN’s common stock on the OTCQB maintained by the OTC Markets Group. There can be no assurance that the market maker’s application will be accepted by FINRA nor can CEN estimate as to the time period that the application will require or that any buying of our shares will ever take place.
If CEN becomes able to have its shares of common stock quoted on the OTCQB, CEN will then try, through a broker-dealer and its clearing firm, to become eligible with the Depository Trust Company ( "DTC" ) to permit its shares to trade electronically. If an issuer is not “DTC-eligible,” then its shares cannot be electronically transferred between brokerage accounts, which, based on the realities of the marketplace as it exists today (especially the OTCQB), means that shares of a company will not be traded (technically the shares can be traded manually between accounts, but this takes days and is not a realistic option for companies relying on broker dealers for stock transactions - like all companies on the OTCQB. There are no assurances that CEN’s shares will ever become DTC-eligible or, if they do, how long it will take.
Upon getting a trading symbol, CEN will attempt to become listed on the NYSE MKT, although no assurances can be given as to the likelihood or timing of obtaining such listing.
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