gd4nthing When we got out NGIO dividend shares,
Post# of 36537
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Posted On: 04/01/2021 3:31:35 PM
gd4nthing
When we got out NGIO dividend shares, the broker account where we held our GNBT shares was credited with X amount of NuGenerex shares with no ticker symbol. From my investigation, I cannot find any evidence that the NGIO shares were deposited in the Depository Trust Company (DTC) https://www.investopedia.com/terms/d/dtc.asp#...0the%20DTC.
Then two weeks ago, someone legally created the NUGX ticker to start trading on the OTC Gray Sheet platform. So Trader A sold to Trader B X number of shares of NuGenerex. The question is, how did Trader B get his shares if the DTC was not involved? If say Trader A was on E*Trade and Trader B was on TDA then perhaps the two brokerages worked out all the paperwork. But did they get everything right, crossed all the Ts, dotted all the Is? There is a reason why almost every transaction is run thru the DTC.
Maybe when the NGIO shares were issued they were deposited in the DTC and so there is no problem. Don’t know. But since NuGenerex has never been officially (company sponsored) listed on any exchange, I am just wondering how all the buying, selling and electronic transfers of NUGX shares is being handled behind the scenes. And if it is being done correctly so that when the IPO happens, NUGX buyers will be correctly awarded the full complement of NGIO shares.
Maybe checking with your broker about your NUGX buy will give you information on how trades actually happen and you can then share that info with us to eliminate any and all misconceptions.
When we got out NGIO dividend shares, the broker account where we held our GNBT shares was credited with X amount of NuGenerex shares with no ticker symbol. From my investigation, I cannot find any evidence that the NGIO shares were deposited in the Depository Trust Company (DTC) https://www.investopedia.com/terms/d/dtc.asp#...0the%20DTC.
Then two weeks ago, someone legally created the NUGX ticker to start trading on the OTC Gray Sheet platform. So Trader A sold to Trader B X number of shares of NuGenerex. The question is, how did Trader B get his shares if the DTC was not involved? If say Trader A was on E*Trade and Trader B was on TDA then perhaps the two brokerages worked out all the paperwork. But did they get everything right, crossed all the Ts, dotted all the Is? There is a reason why almost every transaction is run thru the DTC.
Maybe when the NGIO shares were issued they were deposited in the DTC and so there is no problem. Don’t know. But since NuGenerex has never been officially (company sponsored) listed on any exchange, I am just wondering how all the buying, selling and electronic transfers of NUGX shares is being handled behind the scenes. And if it is being done correctly so that when the IPO happens, NUGX buyers will be correctly awarded the full complement of NGIO shares.
Maybe checking with your broker about your NUGX buy will give you information on how trades actually happen and you can then share that info with us to eliminate any and all misconceptions.
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