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Has anyone any update on shares? Just got email from AJ Bell that the delay could go on for quite a while
That’s probably because the dirty thieving bastards went all out to naked short them on 19th October. I guess they $h1t themselves when the sp started rocketing on that day.
They shorted the entire stick in issue 16 million, 100% short.
With 80% of shares locked in and many SMD conversions shares still not issued how the hell are they going to cover this???
They all need to go to prison!
(unless it was multiple trades but even so with a public float of 450k that must represent a massive amount of naked shorts)
https://fintel.io/ss/us/mdai
Please forgive my ignorance especially relating to Shorting although I have tried to read and understand about it without much success. However, with all that is happening with the shares are we likely to receive our holding in due course? There seems to be no time limit but I should be interested to hear how uk shareholders feel about this.
Here is another article I found, makes for very worrying reading. Lets hope in our case they will be forced to close one way or another and fairly soon. Its an old article but is after the SHO was brought in and it had no ability to stop it.
https://www.forbes.com/2006/08/25/naked-shorts-global-links-cx_lm_0825naked.html?sh=a7fd6e98400b
Thank you, Medjed, very interesting and disturbing reading. Could it be that we might lose our full investment?
I also got an update from AJ Bell after pressurising them. They are saying that they still haven't received shares from the American transfer agent. They go on to say about what will happen after that and do mention that this process is "lengthy and extensive and is greatly reliant on the internal processes of our third party partners". So I feel it will take an absolute age. That's after someone there telling me that the shares were in my account last week! Does anybody know who this American transfer agent is?
NIInvestor, is the transfer company Continental Stock Transfer and Trust Company?
Although when I spoke with IG they told me the broker (Citi) was the issue and causing delays, a famous evil naked shorter.
It could very well be Continental and Stock Transfer and Trust Company. I've seen that name mentioned a few times. They didn't tell me the name. However, today I also have written to investor relations at Spectral AI, praising them for the operational work they are doing, but mentioned that UK shareholders have not received their shares yet and that I believe this has left the market open to illegal activity resulting in the current stock price being shockingly undervalued. I mentioned AJ Bell's message and asked them who the American Transfer Agent is and if any pressure was being put on them to come up with an answer regarding the significant delay. Still awaiting a response.
@NIInvestor - appreciate your (and others on here) considered and insightful posts. This is not where we hoped to be at this point and I'm still baffled as to how it happened, but at least the posts are dealing with the issues and sharing insight and experience which is actually quite a welcome distraction from the thought of waving £25k goodbye!!
I have sent a similar message to Spectral even though I have my shares now, just to make sure they are aware that there are multiple shareholders who are compromised by the handling of this issue.
Short volume yesterday again was 52% of all trades. When will this let up?
https://fintel.io/ss/us/mdai
Totally agree. It's been a great community here. It has made things a lot easier with the sharing of information. It's definitely been a unique and unpleasant experience and it has been much easier to get through with the help of the board. It's a good company and I believe it will eventually realise it's true value. The senior leadership team are even in Saudi Arabia promoting the company as we speak. Saudi Arabia has a huge potential diabetic foot ulcer market.
Hopefully the shorting won't last much longer. When this stock reverses it should be explosive.
Thanks for getting in touch with Spectral. I reiterate what you said this journey would be so much harder with the people on this board. Thanks to everyone for sharing and let's hope we come out the other end soon
Update from AJ Bell. They have now received the DRS statements from the American transfer agent (Continental Stock Transfer & Trust Company) and are now in the process of depositing the statements with their overseas custodian. Once that is complete the shares will be transferred into the UK settlement system, CREST, to allow electronic trading.
Good that things are moving. Sensing that there is going to a big surge upward in the share price coming some time soon.
Have a good weekend all.
Thanks for the update. Have a message from AJ Bell too. Will check it🙂
Yes my message is the same from AJ Bell
Nice. Hopefully all brokers will have received or will shortly be receiving the shares.
Just noticed a filing on Friday night saying that a Laurence E Hirsch has acquired 900,000 shares. A search on him shows that he owns private equity firm Highlander Partners. Hopefully this is a sign that word is spreading about Spectral AI and we will build momentum with some big buyers coming in.
https://www.sec.gov/edgar/browse/?CIK=1833498&owner=exclude
Think you’re slightly underplaying this! He bought 5.7% of the company!!