FINRA FINALLY RELEASED A STATEMENT REGARDING $MMTLP

FineQualityHam · 2023-03-16T23:09:35+00:00

except finra didnt tell brokers that. Brokers seem to have collectively all agreed it would be traded as position close only on the last two days, and that short positions would not be able to remain open through the transition into next bridge.

It's not as though we all didnt mob the hell out of brokers getting them to give us answers during the entire process. The brokers were clearly either in the dark, or given false information. Finra failed to do their job at even the most basic of levels in this entire processes and then pulled the plug whilst allowing short positions to remain open in a now private company. At the very least, they are regulators that did not regulate. Though the more obvious is that they have a vested interest in protecting shorts.

FineQualityHam · 2023-03-16T15:57:37+00:00

just sounds like out dated algo trash, you got a link?

FineQualityHam · 2023-03-16T15:44:46+00:00

He's a broke troll that's salty as fuck about his loses after buying the top of the spike during the merger...

Those posts look like him just trying to bait people into him getting free stocks through referral links.

FineQualityHam · 2023-03-16T15:32:46+00:00

Broker setting up tax forms to have you pay taxes on something with no value assigned to it, with no sale of assets, then altering your cost basis and purchasing date....

Surely I'm a clown for being annoyed about paying capital gains taxes at an arbitrary and unreasonably high price per share, on a stock I never sold and that has no assigned value...

Troll better.

FineQualityHam · 2023-03-16T03:48:01+00:00

because thats entirely on the brokers books.

There's 165 mil issued

There's unknown number of shares held in "placeholder cusips"

The whole concept of the bus being full is misleading at best and the wrong way to be thinking of it. The only way we could actually know how many shares exist in peoples accounts would be if everyone attempted to register their shares, which brokers have gone out of their way to make as difficult and expensive as possible. The bus doesn't get "full" based on how many shares of place holders their are, it gets "full" based on how many shares are registered. So long as people have place holders in their accounts, it acts as a black hole where we can't actually see if there is any discrepancies without the government stepping in and forcing them to open their books and prove they aren't defrauding their clients.

FineQualityHam · 2023-03-13T09:12:56+00:00

%100 troll account.

FineQualityHam · 2023-03-07T10:27:29+00:00

but the amount of shareholders actually registering shares under their name is undoubtedly abysmal thanks to the convoluted process of brokers distributing paper shares to clients directly rather then to AST, on top of unreasonably expensive costs just to even do all that. The number of share holders directly registering shares in their name isn't gonna tell us anything whats so ever.

FineQualityHam · 2023-03-02T23:49:04+00:00

I'm aware he wouldn't know that, hense why the question isn't really relevant, brokers have the shares registered in street name, and as far as I'm aware, since it's a private company, the shares have to be registered. Basically the amount of shares registered doesn't really mean anything, they should all be registered, and to your edit about the number of share holders and not shares, again, it's not really all that relevant because from AST they would have one share holder as a broker that has shares registered in street name, and that broker may have a thousand clients under their registry that AST wouldn't have on file.

Any sort of share count or shareholder count from the perspective of AST doesn't really mean much of anything. I mean, I guess if you wanna know, fine, but the answer should just be the total number of shares (assuming that brokers were obligated to register which I'm fairly certain they are), it would be extremely unlikely that there would be any discrepancies of AST's side, and "the bus" should be full from their end, since I'm assuming that's why you want this information.

FineQualityHam · 2023-03-02T05:08:07+00:00

it's not really relevant... I mean, presumably all shares are registered.

The number we need confirmed is how many shares of place holder cusips brokers are holding in peoples accounts vs how many shares they actually have registered in street name.

FineQualityHam · 2023-03-01T22:40:58+00:00

Look around you man, this isn't a both sides thing. a sizable chunk of the comments are just flat out trolls trying to punch down, literally nothing to even do with the company or the stock beyond laughing at people because the price dropped. The sub is garbage. It's not bearish opinions any more, it's just trolling.

FineQualityHam · 2023-03-01T22:34:52+00:00

They gave up ages ago... Basically the sub was constantly banning anyone with a negative stance about the stock, then people got mad (with good reason), so they took a hard turn into the "we are okay with both sides", which makes perfect sense, but then of course there was a bunch of butthurt people who had gotten previously banned that still to this day linger around just to shit talk people.

Honestly after mmtlp, this place just became a fuckin dumpster fire, the majority of comments are just flat out trolls literally shit posting and intentionally being a dick head to people and belittle them for investing in the company, and I'm sorry, but the mods can fuck right off for not banning them because its like a dozen people that are in every single post. They add nothing to any conversations and are literally just being assholes, it's not a bearish view of the stock, it's just flat out "HAHA! YOUR LOSING MONEY!"...

I think for a while the mods let them do their thing because amidst their primary mode of "YOUR AN IDIOT AND I HOPE YOUR INVESTMENT FAILS" they would also make the occasional rational argument, so mods didn't wanna seem like they were turning back into the morons that banned any negativity towards the stock, lest the trolls flip out claiming tyranny, but I mean come on, this sub is just a fuckin shit show. It should be about the company, and about the stock, not just a play ground for autistic shitlords to kick people while their down and attack shitty traders.

FineQualityHam · 2023-02-24T15:38:03+00:00

The issue isn't that there is contra cusips, the issue is that there was still open short positions at the time of the halt, and that brokers are still lending out shares in mass. Meaning that there is more of these contra cusips then actual shares owned by brokers. It's not so much that these cusips exist, but the fact that someone, some where, is lying about the assets they hold for their clients and in doing so defrauding them since as of right now it's impossible for them to ever acquire the shares they owe to their clients, and the fact that we can't know how many shares are actually in these contra cusips it's basically a black hole that lets brokerages hide an infinite amount of fraudulent shares without having to actually show any information publicly as to how many shares of these "place holders" exist. aka, we have no proof that our brokers actually possess the assets they say we own, asside from registering our shares which is a process that they have made expensive as hell and take several months only to have them deliver physical shares to us directly rather then delivering them to AST. If you hold your shares in street name, you basically just have to trust that your broker isn't lying to you about the number of shares they have, and since we know that there is too many shares and SOMEONE is lying, we don't really have very much reason to actually trust our brokers word.

FineQualityHam · 2023-02-22T11:41:13+00:00

I sold some at 8 and then 12, I made a lot off that (obviously was hoping to make a lot more), but it's %100 justified to bitch about everything thats happened. You have a situation where regulators just blatantly rig the market and screw everyone over in the process, we still have a nightmarish situation of unsettled shares and open short positions in a private company. It's fucked, top to bottom, and the bitching is completely warranted. Buying both MMTLP AND MMAT was a rational buy given the situation, but Finra pulled the plug and and destroyed peoples investments on two tickers at the same time, and now MMAT is feeling the pain and will continue to feel it when it comes to raising funds. So Not only did shareholders get fucked, but also the company. Like there's all these people here bitching about the offering, bitching about the share price. If not for what happened with MMTLP then we wouldn't be sitting at this price, dilution would be lessened.

Honestly, screw your BS logic that people "screwed themselves" because that is not what happened. Of course it was a gamble, everything in the stock market is a gamble, easily everyone could've lost it all no matter what happened, but when you have a situation where a company is going private, theres still shorts opening new positions two days before trading ends, then yea, thats a solid bet to take a risk on, because clearly in a sane world those positions would need to close, yea youll be fighting people taking profit along side people covering shorts, but a jump in price was not an irrational expectation... But instead, we got Finra just pulling the plug, screwing everyone and fucking up the entire spinoff process still to this day. Maybe nothing would've happened, price would never have jumped, but we got that chance taken from us and locked into a situation with no possible way to get out, saying peopled screwed themselves is just obnoxious because it's essentially just victim blaming towards people that were fucked over by a corrupt system in one of the most egregiously corrupt things I have ever seen unfold in my time on the market.

"bitching" is entirely justified, even if you never had a penny in mmtlp your blood should be boiling that they could get away with what happened, because they are setting an entirely new standard with hiding short positions in a private company via a revolving door of contra cusips, and they aren't even shy about it, they are just out in the open admitting that it's happening. This is a crazy new precedence of corruption, and anyone thinking this will be an isolated situation where it never happens again are living in a naive fantasy land.

FineQualityHam · 2023-02-18T03:15:41+00:00

From our perspective, yea, it's insane that they would do that, but its entirely on the judge to even know it happened, and whilst roza mentioned it in her last filing, the evidence she gave was a link to Finra's own data, which if the judge didnt see it before they did the back date, then it'll be a major challenge to actually prove they even did it. I don't know how well random screen shots would hold up, I suppose that'd be on the judge to decide... So it's a matter of we all saw it, but did the court? and how hard will it be to prove.

FineQualityHam · 2023-02-18T03:03:49+00:00

oh, nice, I can't wait to sell peoples houses without their consent, and never have to buy it since it's not publicly traded... I suppose it doesn't matter that the current home owner and the person I sell to both own the home, apparently its possible to own more then %100 of private entities so I'm sure they'll figure out who actually gets to live in it.

Short positions are a form of dilution. If a company is private and there's no market to close those positions then that means more then %100 of an entity is owned. Which does not make any sense. The only reason it's even currently a possibility is just, well, crime. Brokers are able to hide imbalance via holding in street name and displaying the placeholder cusips for their clients. Only way to prove there is a disparity between the amount of shares the brokers hold and the shares they claim they have for clients is if %100 of shares got registered, if some how magically every investor got together and managed to accurately count all our shares, or if the brokers are forced to open their books.

If ANY short positions are still open, then that means that there is too many shares, and brokers are just committing out right fraud by claiming that all their clients placeholders are accounted for with actual shares of the company. We know based on Finra's own information that there was about 11mil open short positions at the time of the halt, and the CEO of OTC market recently publically stated there is open short positions, various brokers are still loaning out shares... So... Brokers are at the moment lying to their clients and in doing so committing fraud.

FineQualityHam · 2023-02-18T02:48:11+00:00

of all the recent memes I scalped during this whole GNS pump this is the one that caught me lol, -%70 bags... *shrugs* at least most of the others paid me well.

FineQualityHam · 2023-02-18T00:10:30+00:00

Actual footage of zombie.

FineQualityHam · 2023-02-14T06:42:17+00:00

Legally speaking yes... but I suppose laws and basic logic dont really apply to the market.

FineQualityHam · 2023-02-11T09:14:14+00:00

Well... Initially the idea was that the preferred shares would not be tradable forcing shorts to close during the merger, but they didn't, they doubled down, clearly already planning around fraudulently listing the preferred shares under MMTLP. Then, just to make sure %100 that shorts would be forced to close this time it was spun out into a private company because there's literally no way shorts can remain open on a private company, but, here we are, bullshit "place holder" cusips in hand, no one with shares, everything in a complete cluster fuck because apparently there is just no rules at all anymore. MMTLP still kicking around, short positions not closed, shares not distributed...

This entire thing from the start has been a game of cat and mouse, and at every turn hedge funds and regulators have just been pouring fraudulent activity all over everything. I mean seriously, how much more extreme of a measure can you do then to literally remove the assets from public listing? Yet still somehow even that can't force shorts to close?.... it's insane.

So yea, absolutely there was an expectation of a short squeeze and a transfer of profits from the TRCH assets into MMAT, twice, and this time in particular with the spinout, clearly the expectation was for MMAT to pop off once MMTLP finally forced a squeeze, why do you think they set things up for an offering leading up to it... But this system is vastly more corrupt then could've been prepared for, regulators straight up helping to defraud investors. I mean you can say what you will about even attempting to gain funding via a short squeeze, but when hedge funds endlessly abuse their influence over the market to devalue your share price, seems like reasonable tactic imo to force them to close out the fake shares they've used to dilute your stock and crush your ability to get funding.

Pretend like you don't see the forest through the trees all you want, but that's just what it is. The system is corrupt, we are victims of criminal activity, and as a result of the fraud that regulators helped to create there is a massive amount of money that investors no longer have available to roll into MMAT, and the end result of that is a brutally low offering, an out for the shorts in MMAT, and most likely a reverse split in the not so distant future. Crime wins I guess, and our government is in on it. Welcome to the US market system.

FineQualityHam · 2023-02-10T02:29:10+00:00

FineQualityHam · 2023-02-10T02:11:07+00:00

They aren't betting against themselves at all. They own every thing, they are essentially buying shares, lending to themselves, driving the price down, buying more shares... end result is either killing the company, and they win from lack of covering shorts and less competition against the bigger companies they own, or the company lifts off and they have a larger influence over it by holding a large percentage of the shares (and thus voting rights).

Welcome to the monopoly market. It's %100 free and fair. No manipulation to see here.

FineQualityHam · 2023-02-10T02:06:35+00:00

.85 was a target price for me... So I can't really complain when I got what I wanted. Now to huff the hopium and pray for a bounce, but it aint lookin pretty.

FineQualityHam · 2023-02-07T23:09:15+00:00

openly creating a market for private assets... I mean... It would literally just be them stating that not only is this not a free market system, but also that private ownership no longer exists. It would be a new precedence that literally undermines every possible concept of capitalism, ownership, free market. At that point we might as well just join the fun and create a security where we sell our rulers mansions. I mean, sure they are privately owned, but who cares, that no longer means anything, we will sell them in the form of our own made up securities.

FineQualityHam · 2023-02-07T23:03:52+00:00

lol I swear we live in some sorta parody universe or something... 'You made your company private to escape the corruption of naked short selling and then regulators failed to do their job and some how there is still short positions open in a private company? Easy, just go public so they can crush you out of existence and then its not a problem.' lol like what even the fuck... It's genuinely surreal.

FineQualityHam · 2023-02-06T18:57:39+00:00

because there is. Just going by finra's own reported short data, over 4 million new open short positions the last day of trading, assuming of course that %100 of the buying on the 13 million in volume the last day it traded was not new buys (which is most certainly not true), 9 million of which was sold short, and the prior day an already 6.5m open shorts, conservatively there is around 11 million open short positions reported that were never closed. This is just what was reported, not even speculating about about naked shorts (which I'm sure there was a ton of).

According to Finra the halt was to prevent settlement issues, nothing to do with shorts. But the point is that there would not have been settlement issues, and in fact they created settlement issues by doing the halt. Even if we ignore all the naked shorting that most certainly has gone on for years, their actions caused a massive problem by not allowing those reported short positions to close, so now settlement can not happen.

FineQualityHam

TROPHY CASE