Wednesday, December 27, 2006 5:25:28 PM
"The 83444T106 CUSIP is for actual free trading Soma Petroleum shares (when they actually trade). The units that you received are restricted and will not bear the tradable CUSIP. Quite often a unit will be received without a CUSIP attached. From the information we have received from our depository, it appears that these are, in fact, units. I reviewed press releases and other sources of information and I can not find the company making a reference to "units". We have received no information from the company about how to exercise the warrants contained within the units or if the units must be broken down first. It also looks as though the warrants will be subject to a 4 month hold (determined by the company's board of directors). Have you contacted the company or the transfer agent? The number for the transfer agent is 416-363-1240.
Patrick W.
Reorganization and Safekeeping
TD AMERITRADE, Division of TD AMERITRADE, Inc."
So as I noted earlier this morning, someone who has spoken with Ron Haller needs to get back on the phone with him and ask how this divy was packaged, because now apparently we need to know how to unpackage them. And as I read this reply, all who request certs are going to get 999 certs that will have to be redeem for 146 certs with the share restriction is lifted. And from everything I have read, those 146 certs are going to be SOMPF shares not SA1.F, and will need to be tradeable on a market to be worth anything.
So here is my summary of questions:
1. Is the dividend issued in a single unit with CUSIP #83444T999?
1a. If the divy CUSIP is kept separate from the free trading CUSIP, what is the value of the restricted divy?
2. Are the warrants packaged in this CUSIP?
2a. How do we unwind the warrants from the shares?
3. Will 999 divy convert to free trading 146 shares when the restriction is lifted?
3a. Will those free trading 146 shares be SOMPF shares or SA1.F shares?
4. Why should naked shorts cover EQBM?
5. The million dollar question: Larry issued 2+-mil real shares of SOMPF as the divy. 4+-mil shares are needed. Can the DTCC simple create a 2+-mil naked short position (assigned to EQBM naked short holders) to rectify the imbalance?
Hate to pee in the coffee, but it seems nothing here is slick or going to force a cover, just really screwed up.
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