TEKMODO INDUSTRIES INC RTS V.TEK.RT

Have I made a HUGE error?

[Kate1594]

Please forgive my ignorance but I NEED ADVICE now!  I am new to the stockmarket and working with limited funds.  Today I purchased some TEK.RT for what is a lot of money for me.  I did some more reading after my purchase and discovered that the TEK.RT stocks are going to be delisted on June 26.  I don't know what this means.  Am I going to see my investment disappear?  Please give me some advice guys.  I need your help!  Thanks!!

[Kate1594]

Seriously Guys - I see that you have read my post.  Can't anyone give me some advice.  I'm just a girl from Ontario who is trying to find her way through the stock market gibberish.  I need help.  I have palpatations.  Did I really screw up?  I don't understand "delisted".  Should I get my money out tomorrow?  Help me out please.

[Colbalt99]

Kate you have nothing to worry about your shares will transfer to TEK.V and your warrent papers will be mailed to you check out last NR on this news page and you will see details no need for heart attacks.

[Kate1594]

Colbalt99 -  THANK YOU !  I understand what you say about the shares being transfered to TEK.V but not sure what warrent papers are.  I will read the post you suggested.  Getting into this stock market stuff is kinda hard on the nerves.  You are a life saver my friend.  Thanks again!

[reddy11]

If you have purchased more rights you will still need to exersise them through you broker. Which means if you purchased more rights at .005 you will still need to pay the 1.5 cents to get the common stocks. Example:  Bought 10,000 TEK RT.    Have to pay 1.5 cents for every right exersised to get the common shares. Meaning you need to have $150 cash to exersise the rights. Please

[Kate1594]

OOOKKKK?   So I am confused again.  Do I have to come up with more cash when the shares are transfered to TEK-V?  or are my shares reduced to make up the financial discrepency? 

[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

[BigMoneySniper]

If you bought TEK.RT you only bought the rights to subscribe to the offering that is expiring June 26. If you do not exercise your rights before then, the rights expire and become worthless. If you have not already, you need to subscribe to the offering, I had to call my broker to do this, and pay $0.015 per right you'd like to exercise. Sounds like each broker has a different cut off date so

[Kate1594]

I don't have a broker.  I boughtmy shares on BMO Investor line.  Am I screwed?  I sincerely appreciate your tolerance with all of my stupid questions.  I know you guys are old pros and I am truly an idiot with this situation.  If you needed to know about raising kids I could help you out hahahah.  A degree in Early Childhood Education doesn't prepare you well

[quicksilver545]

So it sounds like your broker is BMO investorline. I'm not really familiar with them, but you should call them and find out about exercising your rights before expiry. My gut feeling is that they will tell you if you exercise, it will be at your own risk that they fill out the paperwork in time.. The safest thing for you to do is throw those rights up for sale tomorrow. As I said, with the

[Kate1594]

quicksilver545 Thank you for the advice.  Maybe a hard lesson learned for me but I won't forget it in the future!  I will call BMO tomorrow and see what they have to say.  If it's weird - I will sell and suck it up.  Much appreciation to everyone on this forum.  I will try harder not to make stupid mistakes in the future.  I also won't bug you all with

[quicksilver545]

No problem, we've all made mistakes before.  You did pick a good company, just not the right stock ticker ;)

[KingBill]

Hi Kate, I would recommend u exercise your RT, or sell 50% and exercise the rest

[KingBill]

You need to call your broker first thing tomorrow and instruct them to exercise TEK.RT.  Then on around July 10th, when they completed the exercise, they will put into your account some new TEK  shares (2.5  TEK RT for 1 new TEK share) and also same number of warranties (You can buy 1 TEK share in 5 years anytime @0.0625).  At the same time, they will charge you $0.015 for each