July 5, 2022 
 Tuesday 
 
 

Forum
Topic:
OSTO and OTC Stock Issues

       

 By fredmcain

05/05/2022  7:21AM

Group,

I guess, I’m gonna go ahead and put one final post on here before our beloved forum "goes away" as I'm assuming it will.

I'm sure that Quartzite will pull the plug on both Mike's forum and the website in general.

My complaint has to do with brokers nowadays. There are now very few brokers left that will agree to trade so-called "grey shares" or what they call OTC shares. My broker cut me off and would no longer accept orders for OSTO. I believe I've mentioned this on our forum in the past.

But what's a darn shame is that I would've been glad to add to my investment in this mine by offering $2.00 or share or more. That would've helped some people out who had decided to liquidate their shares and it would've helped me add to my investment.

But my broker would no longer allow me to do this. WHY? Their “official” response was that OTC shares are considered to be “too risky”. Shouldn’t the decision to take on risk be left to the individual investor?

After my broker cut me off, I tried to reach out to other brokers but they didn’t want to touch OTC shares either. I did find one broker who might do it but opening a new account with that broker was so darn complicated that I gave up.

It all seems so darn unfair. But that’s the way it is.
First they pretty well did away with stock certificates and now OTC shares.

I fear this is just another example of how we are slowing losing our rights in America. One small cut at a time.

I wish the very best for Mike and all the others who have participated on the forum and who have had an interest in our mine over the years. Good luck to you all ! ! ! ! !

Best Regards,
Fred M. Cain
Topeka, IN
 

  
 
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