VLP - Market Maker Services - $5,000/mo – I just don't get iGoing back to the Nov 08/17 NR, UAV hired VLP which never made any sense to me.
Can someone shed some light on this / explain just what benefit UAV derives from this service which seemingly replaced the IR service.
Since this announcement Latimer has been a net buyer of 7 Mil shares at an average cost of $0.118 (see house positions below).
- Who is VLP / Latimer buying for?
- Are they buying for their own account while UAV pays them $5,000/mo to do so?
Is there is anyone here who understands this arrangement and can explain it? From the NR:
Market-making services The company also announces that it has retained market-making services. The company has, subject to regulatory approval, retained Venture Liquidity Providers Inc. to initiate its market-making service to provide assistance in maintaining an orderly trading market for the common shares of the company. The market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSX Venture Exchange and other applicable laws. For its services, the corporation has agreed to pay VLP $5,000 per month for a period of 12 months. The agreement may be terminated at any time by the corporation or VLP. The corporation and VLP act at arm's length, and VLP has no present interest, directly or indirectly, in the corporation or its securities. The finances and the shares required for the market-making service are provided by W.D. Latimer. The fee paid by the company to VLP is for services only. In addition, the company reports that Stephen Litwin is no longer acting as investor relations for the company. The company thanks Mr. Litwin for his hard work and wishes him well in his future endeavours. | House Positions for C:UAV from 20171108 to 20180309 |
| House | Bought | $Val | Ave | Sold | $Val | Ave | Net | $Net |
| 2 RBC | 22,642,903 | 3,580,345 | 0.158 | 15,555,003 | 2,451,477 | 0.158 | 7,087,900 | -1,128,868 |
| 36 Latimer | 7,369,024 | 869,557 | 0.118 | 395,426 | 62,884 | 0.159 | 6,973,598 | -806,673 |
| 85 Scotia | 15,796,754 | 2,278,727 | 0.144 | 11,982,723 | 1,777,559 | 0.148 | 3,814,031 | -501,168 |
| 79 CIBC | 16,326,166 | 2,634,879 | 0.161 | 13,941,589 | 2,198,708 | 0.158 | 2,384,577 | -436,171 |
| 124 Questrade | 6,375,316 | 923,900 | 0.145 | 4,908,811 | 705,974 | 0.144 | 1,466,505 | -217,926 |
| 74 GMP | 2,211,000 | 212,471 | 0.096 | 898,500 | 131,539 | 0.146 | 1,312,500 | -80,932 |
| 80 National Bank | 5,616,783 | 852,035 | 0.152 | 4,382,055 | 752,353 | 0.172 | 1,234,728 | -99,682 |
| 9 BMO Nesbitt | 4,776,699 | 760,135 | 0.159 | 3,681,070 | 493,834 | 0.134 | 1,095,629 | -266,301 |
| 143 Pershing | 832,582 | 160,334 | 0.193 | 93,484 | 12,548 | 0.134 | 739,098 | -147,786 |
| 59 PI | 3,340,000 | 482,857 | 0.145 | 2,677,500 | 435,980 | 0.163 | 662,500 | -46,877 |
| 19 Desjardins | 4,019,412 | 541,449 | 0.135 | 3,499,308 | 478,054 | 0.137 | 520,104 | -63,395 |
| 70 Manulife | 296,088 | 34,615 | 0.117 | 0 | | 296,088 | -34,615 |
| 22 Fidelity | 281,499 | 46,235 | 0.164 | 90,550 | 15,283 | 0.169 | 190,949 | -30,952 |
| 58 Qtrade | 571,774 | 94,013 | 0.164 | 434,525 | 62,916 | 0.145 | 137,249 | -31,097 |
| 25 Odlum | 130,000 | 25,214 | 0.194 | 0 | | 130,000 | -25,214 |
| 88 Credential | 388,110 | 61,018 | 0.157 | 277,300 | 35,491 | 0.128 | 110,810 | -25,527 |
| 33 Canaccord | 242,500 | 32,185 | 0.133 | 139,800 | 15,388 | 0.11 | 102,700 | -16,797 |
| 76 Industrial Alliance | 313,130 | 54,292 | 0.173 | 228,000 | 43,291 | 0.19 | 85,130 | -11,001 |
| 18 Echelon | 66,000 | 7,920 | 0.12 | 0 | | 66,000 | -7,920 |
| 14 ITG | 64,335 | 5,177 | 0.08 | 0 | | 64,335 | -5,177 |
| 48 Laurentian | 30,000 | 5,250 | 0.175 | 0 | | 30,000 | -5,250 |
| 89 Raymond James | 39,100 | 5,388 | 0.138 | 20,450 | 3,785 | 0.185 | 18,650 | -1,603 |
| 62 Haywood | 13,000 | 2,015 | 0.155 | 0 | | 13,000 | -2,015 |
| 84 Ind Trading | 170,500 | 31,445 | 0.184 | 170,500 | 31,341 | 0.184 | 0 | -104 |
| 28 BBS | 1,389,868 | 162,018 | 0.117 | 1,390,853 | 164,415 | 0.118 | -985 | 2,397 |
| 57 Interactive | 0 | | 6,200 | 1,116 | 0.18 | -6,200 | 1,116 |
| 68 Leede | 249,200 | 32,504 | 0.13 | 446,000 | 49,878 | 0.112 | -196,800 | 17,374 |
| 7 TD Sec | 44,234,074 | 6,658,373 | 0.151 | 44,475,670 | 6,231,762 | 0.14 | -241,596 | -426,611 |
| 99 Jitney | 1,351,500 | 191,681 | 0.142 | 1,605,000 | 244,296 | 0.152 | -253,500 | 52,615 |
| 13 Instinet | 16,826,300 | 2,832,350 | 0.168 | 18,950,800 | 3,313,425 | 0.175 | -2,124,500 | 481,075 |
| 1 Anonymous | 15,341,500 | 2,347,114 | 0.153 | 41,054,000 | 6,212,199 | 0.151 | -25,712,500 | 3,865,085 |
| TOTAL | 171,305,117 | 25,925,496 | 0.151 | 171,305,117 | 25,925,496 | 0.151 | 0 | 0 |