TEKMODO INDUSTRIES INC RTS V.TEK.RT

RE:RE:RE:RE:RE:RE:Have I made a HUGE error?

[quicksilver545]

Rights will NOT automatically transfer to tekmodo shares. They become worthless unless exercised before expiry. 

The issue is settlement. Usually, securities settle in T+3, meaning they settle 3 trading days after purchse. For you, that would be June 26th. However, there are unique rules for rights settlement close to expiry. The problem for you, I believe, is that discount brokers usually require notice to fill out the paperwork for the rights, usually at least 3 days before expiry. And they will only do this once the trades have "settled", which in your case, may be a bit too late. You will need to call your broker and find out.

All else fails, just sell them tomorrow. With the volume each day, you should be able to sell them at the cost you bought them (unless you bought at .01).