Elio Stock Drs Issues

[MARK MONTGOMERY]

Just got off the phone with Options house.com. They will transfer Elio stock. FYI for anyone looking for a broker.

Hi. Is that for sure. I opened an account with Ameritrade after they said they would and just got informed they will NOT take ELIO.

 

[Travelbuzz1]

Hi. Is that for sure. I opened an account with Ameritrade after they said they would and just got informed they will NOT take ELIO.

Hi. Is that for sure. I opened an account with Ameritrade after they said they would and just got informed they will NOT take ELIO.

There are currently nine brokers now accepting Elio Motors stock transfers; Charles Schwab, Smith Barney,
Morgan Stanley, Merrill Lynch, Scottrade (reportedly not accepting ELIO transfers), Alpine Securities, Interactive Brokers, First Clearing, ETrade, Bank of America.

 

[MARK MONTGOMERY]

There are currently nine brokers now accepting Elio Motors stock transfers; Charles Schwab, Smith Barney,
Morgan Stanley, Merrill Lynch, Scottrade (reportedly not accepting ELIO transfers), Alpine Securities, Interactive Brokers, First Clearing, ETrade, Bank of America.

You have been a big help ! Thank you

 

[HonestTex]

Hi. Is that for sure. I opened an account with Ameritrade after they said they would and just got informed they will NOT take ELIO.

Yes. Spoke with them at length about Elio stock and the octqx market.

 

[TMOSteel]

I sent this to Scottrade, but there are another 8 that presumably will...see threads.
I just received this information from another stockholder with your company....Scratch Scottrade off your list, they will not accept stock not registered under the 1933 Securities act nor stock purchased "inside" that has to be held for 1 year.

Dear Jerry:

That is correct. We will not accept restricted stock for deposit into our accounts.
Restricted stock is stock that has not been registered with the Securities and Exchange Commission (SEC). Restricted stock may not be sold in the open market, unless it is registered with the SEC and the restriction is removed. Scottrade® does not facilitate the removal of restrictive legends on certificates or on shares held in book-entry form.

Generally, to deposit such stock into an account you would need to deal with a full-service brokerage firm.

Sincerely,
Kevin K.

Thanks Jerry, thats what Vstock was asking me to get from Scottrade that my local rep said he couldn't send. Kind of losing my confidence in Scottrade if only for the way this was handled. Could be just the person I dealt with, dunno. May not write them off completely as I have other stock with them.

Just found this about Reg A:

Regulation A
Regulation A of the Securities Act of 1933 (aka Reg A) exempts small offerings of securities from the regular SEC registration if these conditions are met:

• The public offering is not for more than $5,000,000 within a 12-month period.
• The offering statement, which is a simplified disclosure document, must be filed with a Regional Office of the SEC at least 10 days before the issue is offered for sale.
• The offering circular, which is similar to the prospectus in providing full disclosure, must be sent to each buyer of the issue at least 48 hours before the confirmation of the sale.
• The offering circular must be revised if the issue is still being offered 9 months after the initial issue, and the issuer must file a sales report of the issue with the Securities and Exchange Commission (SEC) every 6 months until the offer is terminated.

So now I am confused and wonder if Scottrade is confused, I need to reach them and ask them out right do they accept Regulation A stock.

 

[MARK MONTGOMERY]

Yes. Spoke with them at length about Elio stock and the octqx market.

Spoke with Whom ?

 

[HonestTex]

Spoke with Whom ?

Mike Mandich.
312-488-4368
mike.mandich@options house.com

 

[MARK MONTGOMERY]

There are currently nine brokers now accepting Elio Motors stock transfers; Charles Schwab, Smith Barney,
Morgan Stanley, Merrill Lynch, Scottrade (reportedly not accepting ELIO transfers), Alpine Securities, Interactive Brokers, First Clearing, ETrade, Bank of America.

Just checked. ETrade will not take ELIO

 

[MARK MONTGOMERY]

Mike Mandich.
312-488-4368
mike.mandich@options house.com

Thank you !

 

[Travelbuzz1]

You have been a big help ! Thank you

This information came from John Painter, and I have just sent my information with Charles Schwab. In which I had to mail a form to Phoenix, Arizona and I included all the information I can to assist them with.