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Interesting thread (at least to me anyway)15for2 - Post 110733 "the hold up is the DTCC, Newton has no control over how long it takes them crooks to give clearance back to RCCH, which is all that really matters, no clearance then no trading, simple. That is who is holding this up from trading, period." jimtash - Post 110735 "You have it backwards. RCCH needs to file to have the lock removed. DTCC isn't going to just remove the global lock for the hell of it." 15for2 - Post 110739 "no I don't have it backwards, as long as he filed as soon as he could, then its up to the DTCC, they are the hold up, so unless you have proof he has not filed then I'm right. I heard it was filed. It was his fiduciary duty to file to lift the chill as soon as he was legally allowed to, and that came after the Gendarme decision. Now we wait for the DTCC, and they are clearly in the brokers pocket,(just look at who owns them) so it may be awhile." jimtash - Post 110740 "Rumors of filings are just that, RUMORS." Anvil - Post 110744 "There is no form to file with DTCC to request removal of the global lock, it would be a letter to the DTC and would not be a public doc. As I previously posted, the earliest the global lock can come off is one year from the date of the end of the Gendarme case. And that again, is only if RCCH is not deemed a shell per the definition by the SEC." Anvil - Post 110748 "NAT, i have no agenda here, yeah, I think Newton is a scammer, but in reality, the process is for the Company's legal counsel to send a letter to the DTC requesting review and removal of the global lock. The DTC is and has been overwhelmed and they outsource their work to one firm, Praksaur. Praksauer will get the request from the DTC send out a letter to RCCH requesting info and review. They will then make a recommendation to the DTC on whether to lift the chill or not. The DTC has the final say so, but I am hearing they go with Praksauer's recommendation 99% of the time." 15for2 - Post 110751 "remember that fast track program for clearance that was put into existence awhile back? I brought it up here some time ago, Newton could obviously use that program as RCCH did nothing wrong, but it is up to the DTCC to give them clearance back.I should have said it wasn't a filing, it is a letter he has to send, and I heard it was done, sorry for the confusion. It is not a rumor according to my source, who has been spot on with such matters." kazorchian - Post 110757 "Things are about to get real interesting here......" My comment - Thank you to all the posters for an interesting conversation |
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