As an example of a company and a delisted stock caused by brokerages massively naked short selling and never bothering to ever deliver real shares into their clients' accounts, look at the BCIT story. Several PRs have come out recently which seem to suggest that the company has taken steps to rectify their predicament. It remains to be seen if the BCIT stock will ever trade again but it is looking like slowly over time, shareholders are winning and brokerages have painted themselves into a corner. Now FINRA is involved and has provided arbitration on the matter and now forcing brokers to buy stock certificates directly for the company, in order to deliver real shares to those retail investors who bought shares over seven years ago.
http://www.prweb.com/releases/2013/1/prweb10311529.htm
http://www.prweb.com/releases/2013/1/prweb10298248.htm
So it is possible for an issuer (the company) to work with the DTCC and account for all of the outstanding shares. Look at BCIT and what they have accomplished and continue to do for their shareholders. Brokers naked short selling many more times the number of shares even available in the float seven years ago caused the stock to get shut down by the powers that be but shareholders and the company fought back and now it looks like things are moving in that story, positively for shareholders.
Mr Roth , what have you done for shareholders lately? Anything? Why is SFIO stock still in a DTC global lock?! Surely there must be some way to resolve whatever is the reason for the lock. Why did you pay the corporate entity a measly $1,000 for 1M preferred series A shares which (because of the by-laws) effectively gave you total voting power over all the common shares???!! Shareholders do not appreciate having ALL of their voting power stripped away from them and then have the DTC globally lock the stock followed by the new un-elected CEO to unilaterally decide to give away the Belgium subsidiary business for $1.1M which has to this day never been delivered to the company (aka shareholders) and does not look like will ever happen anyway. Shareholders deserve better, they deserve some word, even a single new sentence typed onto the corporate websites HTML page about the DTC lock to assuage concerns. At this point, what are shareholders to think? It has been well over a year since we have seen any signs of life for this company at all. Are we free to imagine the worst case scenarios? Perhaps Mr Roth effectively hijacked SFIO and then sold off SFIO Bvba to his friends for $1.1M and pocketed the money, leaving SFIO for dead?! All we can do is speculate at this point, unfortunately. Without any word, what are we to believe? Set us straight, give us word, tell us that nothing has happened in a year and a half, fine, but tell us something, we deserve that much. Class action lawsuit??!!! Hmmmm
$SFIO
