This was posted on Reddit by user u/famishedburritocat entitled The FINAL missing puzzle piece – The MOASS already started we just didn’t realize it until now. Apes Army does not endorse any of the information contained within, nor is this financial advice. DO YOUR OWN RESEARCH ALWAYS.
The FINAL missing puzzle piece – The MOASS already started we just didn’t realize it until now.
Apologies for the clickbait-y title.
Before you read further down this post, please give this a read first https://www.reddit.com/r/Superstonk/comments/pmdr0c/how_nft_taking_a_step_back_to_look_at_where_we/, otherwise the rest of this post won’t make sense.
The one thing that bothered me a lot in my last post was “where the hell is GameStop going to get a list of shareholders when we all know there is fuckery going on in DTCC”, and in search for the answers for this question I discovered some NEXT LEVEL TIT JACKING INFORMATION.
Let’s look at the role of Transfer Agent listed on Sec’s official site here – https://www.sec.gov/rules/concept/2015/34-76743.pdf page 89-90
TA is the recorder keeper for the issuer
They keep transfer history too
So, at this point we know ComputerShare is the Transfer Agent for GameStop. Source 1 from SEC
2021 proxy here https://gamestop.gcs-web.com/node/18846/html?fbclid=IwAR3Dk8eBXhr68HkOdgqVt-OK6jbGjoRZ2c22s0SJiIgiv20qJgqL6nLzLis secion 9, page 11
THANK YOU u/TOXSIC99 YOU’RE A LEGENDARY WIZARD
This is a whitepaper I found on CS describing what they do as a TA https://www.computershare.com/us/Documents/TA_Overview_WhitePaper.pdf
Ok, so ComputerShare has the capability to do these things, that’s good to know, how does this relate to MOASS?Part 2: How did Overstock issue its digital dividend
This was my hand on forehead moment – Dr. T and Wes Christian has mentioned Overstock in reference to battling naked shorting before, I thought, why not look into how they actually did it and how GameStop could do this? Here’s the link to their website detailing this https://www.overstock.com/dividend, they have basically laid out the plan for GameStop to follow.
- Type of dividend – in the case of Overstock, they’re treating the dividend as a digital share with voting rights
A type of share, not just a token on the blockchain
2. Where is it stored?
overstock has its own trading platform that’s registered with SEC
In their case, they have a platform that’s registered with the SEC, which means they’re thinking it in terms of shares and not just a token on the block chain. Huh, they also use ComputerShare as the Transfer Agent of said security. But wait, as a shareholder I can only buy shares through a subscriber to their platform, that appears to be a problem for the brokers who don’t have the subscriber integration.
3. What are some of the problems with taking the “digital security record keeping” approach?
it’s just a ledger which allows no interactions, but hey remember in my last post i said they also need to package a wallet for us to receive them?
cash is the only option when it comes to fractional shares in tZERO’s approach, this is how they neutralized Overstock MOASS. this is the Achilles heel in this approachPart 3: How is GameStop going to solve these problems
Again, this post is required reading because this entire section is not going to make sense without it.
GameStop is going to get a list of shareholders from CompusterShare since CS is the transfer agent. Cool, they have a list now but the majority of them are going to be under Cede & Co’s name in CS’s books (see this discussion started by u/GMEJesus), but also let’s take this directly from Sec’s website (again) – https://www.sec.gov/reportspubs/investor-publications/investorpubsholdsechtm.html
when we hold shares in brokers they’re the record keepers aka “street name” registration
Didn’t GME say something about this in their prospectus?
also page 15
Cede & Co is going to have to figure out how to distribute those to shares held in their name, now, we know there is fuckery going on so how long will it take for those records to get reconciled? What happens when they can’t reconcile those records?
And, fractional shares, they’re traded over ATS, how do we make sure they won’t be issued like overstock’s cash replacement?
Enter CS’s DIRECT STOCK PURCHASE. There has been so much fud in this area wrt what is considered a book entry. Let’s look at the source material here https://cda.computershare.com/Content/7e2c2c4c-aeb6-4614-83a3-b67e32756a78
their DRP (think ATS) allows direct register with fractional shares, it’s book entry just like whole sharesTHIS IS WHY DRS MATTERS, because when you directly register your shares with CS, GameStop will be able to distribute them BYPASSING DTCC altogether and greatly reduce the turnaround time and ENSURE DATA ACCURACY (aka they have access to a vetted list of individual shareholders) regardless of whether you own whole or fractional shares.
same sec site https://www.sec.gov/reportspubs/investor-publications/investorpubsholdsechtm.html “BOOKS OF THE COMPANY”
It says pretty much the same thing on Overstock’s website https://www.overstock.com/dividend, they integrated tZERO system with CS already imo
GameStop is building the platform (think tZERO) that’s going to solve the problem with (cash) fractional shares by creating fractional tokens with ERC-20 and ERC-721 that don’t necessarily have to be considered as a form of tradable security (this point is debatable if you feel otherwise please leave a comment and let’s explore this). The platform can be used as infrastructure for game trading at a later date (think aws). tZERO does one thing but this new platform can do SOOOO MUCH MORE.TADR: The MOASS started the moment we began direct registering, WE ARE THE CATALYST.
Edit 11: From Sec’s page again https://www.sec.gov/reportspubs/investor-publications/investorpubsholdsechtm.html
so this is a limitation for DR, please also take this into consideration
Edit 12: apparently you can get a list of active brokers here https://www.sec.gov/help/foiadocsbdfoiahtm.html
I checked out the September data and DID NOT SEE COMPUTERSHARE REGISTERED AS AN ACTIVE BROKER-DEALER with the sec.This is also not financial advice.
Though isn’t it amazing that tonight there are multiple posts that all link MOASS and DRS together?
in the very slim chance you missed this https://www.reddit.com/r/Superstonk/comments/pps2yj/direct_registering_shares_drs_is_the_moass_key/
Edit 6: Easter egg from Overstock’s dividend page here? https://www.overstock.com/dividend
DIRECT REGISTER AND HODL, RECORD DAY IS COMING SOON MY DEAR FRIENDS.
Edit 8: Can’t hype without evidence.
Edit 9: Evidence was not conclusive, no hype. This –>https://www.reddit.com/r/Superstonk/comments/ppod1x/computershare_only_trades_through_the_nyse_look/ though does provide some interesting data
Edit 10.5 new flair idea: Buy, Transfer, Hodl
Edit 1: linked SEC docs to prove CS as the TA
Edit 2: Linked 2021’s prospectus
Edit 4: auto mod got me on the link to jungle
Edit 5: RIP inbox, please poke holes in this in comments, I need to get some work done and will check back in a few hours. cheers 🙂
Edit 10: International Apes question thread
Edit 13: “General Questions” thread
Edit 14: need dinner and step away from screen for a bit, will catch up tomorrow. also rip inbox, sorry if i missed you
Edit ???: As someone pointed out the edits are making this thread unprofessional, cleaned up. thank you u/hamzah604 you beautiful ape.