This is the thing that baffles me. What we know is the DRS number on the
quarterly reports was suddenly changed from the Computershare number to the Cede
number. What we believe is that this was done due to pressure from the SEC. What
would happen if a shareholder vote went through to publish both numbers side by
side? I find I cannot predict the result. Does the SEC actually have the right
to withhold auditing information from the shareholders? I doubt it.
So, a while back Gamestop stated that they would pull their shares from the DTC/Cede if they determined that it was mishandling the company stock (or words to that effect). They may have changed the wording regarding DRS numbers if the DRS+Cede numbers don’t line up and Gamestop doesn’t want (or isn’t ready) to take that action.
To get the actual numbers, wouldn’t tallying the entries on the register at the next meeting be the most straightforward path?
If you were able to view the GameStop stock ledger, or the stock list, in either case the sum total of all entries will be equal to the amount of issued shares.
Assuming the short thesis is correct, it is happening on other levels. Either DTC is complicit, and knows that DTC members together own more shares than Cede is supposed to own through their record holdings with Computershare OR individual DTC members owe out more obligations to their clients than they are reporting to DTC.
I agree that the entries on the ledger would not be cumulatively more than the amount of issued shares, but I was under the impression that it would be possible to get an accurate tally of the DRS count from the ledger, which is what we seem to be lacking.
Personally I believe the numbers GameStop is reporting are accurate. I am not sure why they changed the language - and I can not claim to know exactly why we’ve been fairly stagnant for a year. I don’t want to make any assumptions that there is ill intent in one of the few primary source filings that retail has access to, and in one of the most key metrics of this saga.
(rough numbers) ~300mil issued shares and ~75mil DRS holders + ~225 shares held with Cede is the same regardless of which number you put first in the sentence. Either way, A+B=C or C-A=B, you know?
So, a while back Gamestop stated that they would pull their shares from the DTC/Cede if they determined that it was mishandling the company stock (or words to that effect). They may have changed the wording regarding DRS numbers if the DRS+Cede numbers don’t line up and Gamestop doesn’t want (or isn’t ready) to take that action.
To get the actual numbers, wouldn’t tallying the entries on the register at the next meeting be the most straightforward path?
I would not expect that would help.
If you were able to view the GameStop stock ledger, or the stock list, in either case the sum total of all entries will be equal to the amount of issued shares.
Assuming the short thesis is correct, it is happening on other levels. Either DTC is complicit, and knows that DTC members together own more shares than Cede is supposed to own through their record holdings with Computershare OR individual DTC members owe out more obligations to their clients than they are reporting to DTC.
I agree that the entries on the ledger would not be cumulatively more than the amount of issued shares, but I was under the impression that it would be possible to get an accurate tally of the DRS count from the ledger, which is what we seem to be lacking.
I understand better what you had meant now.
Personally I believe the numbers GameStop is reporting are accurate. I am not sure why they changed the language - and I can not claim to know exactly why we’ve been fairly stagnant for a year. I don’t want to make any assumptions that there is ill intent in one of the few primary source filings that retail has access to, and in one of the most key metrics of this saga.
(rough numbers) ~300mil issued shares and ~75mil DRS holders + ~225 shares held with Cede is the same regardless of which number you put first in the sentence. Either way, A+B=C or C-A=B, you know?