that wonât happen Sal. you will be given opportunity to sell your shares should they have to remove any for some reason. your shares will never just be taken away from you outright.
there is good chance these close-only penny stocks could regain their status or better in the future that would allow you to trade them normally again. T212 would be straight to removing the buy restriction as soon as they can.
Can anyone find that?
https://backend.otcmarkets.com/otcapi/company/sec-filings/14713371/content/pdf
- the issuer has Net Tangible Assets in excess of $2 million if the issuer has been in continuous operations for at least 3 years or $5 million if less than 3 years.
Edit Hang on a minute that was filed on Tuesday, as in the 16 Feb 2021. So is she saying as of Tuesday she now thinks it should be PSE?
Also Iâm not a CFO but Iâm seeing less than whatâs required?
Cash 372,591
Inventories 1,473,749
Property and equipment 62,931
Isnât it even lower than that? I thought net tangible assets had a bunch of stuff deducted like the intangible assets and the current liabilities
Imagine the CFO is actually incorrect and doesnât know the companyâs own balance sheet 
maybe people will think twice about complaining they cannot buy this stock (disclaimer: this is a joke pls donât get upset)
Edit: yeah Iâm really confused now. So seemingly net tangible assets is
Total assets - Intangible assets (includes goodwill) - Total liabilities
In which case GAXY net tangible assets is well below 0 nevermind 2m⌠but again it is 1am so I may be missing something
Lost so much money entering a trade 2 days before this penny stock exemption is put on us with no warning whatsoever - Trading 212 needs to take responsibility for this, hoping we can come to a resolution considering how many traders/investors have been affected.
Trading 212 has been my go to trading app for its ease of use and transparency, however it is really quickly going downhill for a lot of us. Please do something about this. Big losses in CBBT for me.
I know trading 212 are flagging all my future from now on citing community guidelines. How about about flag their own customer service guidelines which seems to be on existent at this time. Removing the buying option for certain stocks without giving me as a client notice is against terms of service as a client of trading 212.
My rights are being infringed upon as a non UK investor.
It is clear that $GAXY meet the regulatory standards and regulations regarding their OTC standing.
Yet 212 are banning us and forcing us into a position to sell because their third party supplier who funds them cannot and wonât be responsible for payouts once GAXY hits a dollar.
This is the same time robinhood and various other brokers did with GME et al.
I still havenât got a reply to my penny stock exempt GBTC and why I canât trade BTCE.
Hang on a second. Just to be very clear:
You canât blame a T212 for chasing a pump and dump stock, and being caught in the dump.
They arenât being infringed, itâs their platform.
Whilst atm I think they made the mistake in adding them, I canât see what right means they now are obligated to maintain them.
It isnât clear, well not to me. Looking at the Q10 they definitely wouldnât have had the PSE before Tues (16 Feb), and I donât actually think they even have it now. 
Everything about this sentence isnât correct, thatâs not how stonks work.
You canât buy due to FCA rules coming into play 6 Jan. Whilst it affects UK retail customers they have decided to apply to the platform for everyone. They can do that, itâs their platform.
Iâm a non UK investor FCA ruling does not apply to me and several million other clients Phil.
Apologies if Iâm sounding harsh. I fully understand you arenât a UK customer. They have decided to apply to everyone, thatâs their prerogative. Because itâs possible for non-UK customers to still buy it doesnât mean they have to find a way to support that. Itâs their platform, their game.
Yeah it does, youâre on an FCA regulated platform, but full marks, all wrong - quite impressive.
Hope you can now see why you get flagged so much, youâre a bit like Stock Donald.
Thatâs not whatâs in question. Their penny stock exempt status is whatâs in question and I for one canât see how their CFO thinks they meet that. But I could be wrong here so if you know more then please share.
According to OTC regulations they meet same I just donât know how if the case that $GAXY did not meet PSE how trading 212 allowed us to trade a fraudulent stock then.
Someone at 212 pressed the wrong button in all honesty if 212 staff doesnât like reading my posts then they should in essence close the community forum akin to closing the in chat option several weeks ago.
@ryan9921
Itâs not a fraudulent stock. Itâs just one that doesnât meet minimum requirements. Something has definitely gone awry here but not everything has to be a big conspiracy or whatever. Is it not feasible that the data being fed to IBKR was wrong or the data being fed to T212 was wrong and that a stock has been listed incorrectly as PSE when it wasnât supposed to be?
Brokers make errors all the time, 212 comes under more scrutiny because thereâs millions of us looking at this stuff and spotting it, it doesnât make them any worse than the others, just that we are more vocal (and public) because of the increased variety of communication channels.
Millions of us AND @phildawson⌠Who I wouldnât let in my house even if he was my best mate as heâd spot all the cracks.
According to the CFO that now thinks as of 16 Feb 2021 they should now be recognised as PSE. (I donât think they are right and its not just because their professional photo is taken inside their car)
Just to be clear:
Itâs absolutely nothing about fraud at all. No conspiracies, no manipulation. The stock dumped before T212 announced close-mode because its just a P&D play. Its a Reddit stonk.
Itâs like an apple with a sticker on it, itâs still an apple with or without the sticker.
Only in this case I donât think the apple had a sticker on it before when it was added to the platform, and I donât think it has a sticker on as of 16 Feb either.
From my understanding, T212 donât want because the apples without stickers come with extra regulations, so they have just spotted and gone hm we donât want those and are giving them back. They can do that.
Staff donât flag posts, if they wanted them gone they would unlist them. Its the community as in other T212 customers that flag. T212 then have to decide if the community was correct in flagging and ask to update or delete if it breaks the community guidelines, or restore if it doesnât warrant changing.
Thank you @phildawson for your detailed reply.
I did also note the photo inside of car too.
So going forward will the particular instrument/ stock be removed from 212?
Iâm heavily invested in same.
They wonât remove it. Only wonât allow buying until they get the PSE status back.
Well I assume either two scenarios
T212 continue to keep them in close-only mode so they can only be sold. Once everyone has sold it then gets removed.
T212 starts jumping through the hoops required to provide them on their platform and the buy button comes back.
I think A is more likely.
I still canât establish if this is IB (Interactive Brokers) who T212 piggyback are actually forcing this close only.
As you can see if IB says close-only it means T212 are close-only.
Its the same reason T212 have no say in GME/AMC saga etc they are just piggybacking. Itâs literally out of their hands.
Itâs also the reason that when someone requests a new stock, T212 canât add it to their database until IB have it available.
But what I think happened is someone requested GAXY and a couple of other OTC stocks.
A T212 staff member should have checked are they PSE, because T212 have taken a policy that they donât want to get involved with stocks with high regulatory baggage.
They got added to the platform, and now a month or so later they have clocked that they shouldnât have been added.
Instead of admitting it was a mistake (a bit like the NIO and ISA) they seemed to have created a narrative that the stocks were PSE and are no longer PSE.
I know 100% especially with GAXY that it was not PSE (at least not marked on otcmarkets.com), I screengrabbed at the time, I wrote about it in the forums, I made contact with staff to say it should have been added its a mistake.
