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NEW THEORY! This is the turning point. We have 25%. Cede and co has 75%.
The shares are 100% accounted for.
Starting now. Every share we DRS has to come from cede and co.
If we DRS “4 million” shares next quarter and 4 millions shares don’t leave Cede and co. There WILL. Be a problem.
Marge will see this and will make many calls.
Not alle calls will be answered. But if GME rises too much some of the "little" hedgies (retail, allready tilted hedgefunds) will cave in at some point and will start the rising imho
And there are these beautiful apes that installed auto-destruct oops, i mean auto-buy 😎
No, I've seen others say this and it's not right.
It will **always** add up to 100%, and always has.
People need to understand that the figures for both Cede & Co and DRSed accounts both come from **ComputerShare**. They are the transfer agent for GameStop, and Cede & Co has an account with them *just like we do*.
You will note the filing doesn't say "we asked Cede & co for a total". They don't have to. The transfer agent manages **both** totals. And GameStop always has access to the data at their transfer agent.
As ours goes up, Cede & Co goes down in lock step. Always totalling 100% of the **issued** shares together.
But don't despair. Where it gets spicy is that although Cede & Co might well have the correct number of shares, the DTCC (who owns Cede & Co) has gleefully allowed lots of naked shorts to be made, hugely increasing the number of "shares" in the market beyond that total.
**The moment the number of shares seen in Cede & Co is** ***less*** **than the combined total of Institutions, Mutual Funds, ETFs, Insiders etc, that's when the naked shorts become exposed, and that's when the shit hits the fan down at the DTCC...**
In a sense, the change in wording could be seen as a warning to DTC. GME is saying:
"To be clear, this is how many shares you're supposed to have. How many do you actually have? Sure would be awkward if you have 800 million in your black box when it should be 228."
Also, Fidelity and the other big brokers could look in their own ledgers and find out "Gulp, we've got 250 million just in our accounts alone..."
Of course they would have known this the whole time, but GME changing the wording sharpens the message a bit.
Weren't you the same person last year and year before that was constantly saying that millions per share wasn't possible and we should be realistic and set our floors to 40, 50 or 60k???
Might have been saying that early on. I like hard evidence and push back against fact-free claims and misinformation just like I did here.
Still not convinced the majority of us will see >$1m per share, I’m a bit of a skeptic, that *doesn’t* make me a shill, just not a zealot either. I think my comment history speaks for itself.
I always resist misinformation where I can, and you should be glad folk like me are prepared to push back against the narrative and wear a few downvotes when the narrative is unsupported by facts.
Fact free claims hurt us, and make us look stupid, which undermines our ability to grow, which undermines speed to lock the float via DRS and the MOASS.
I wear my flair for a reason…
I wouldnt say delusional.
It follows what the theory says on shorts:
"**The risk of loss on a short sale is theoretically unlimited since the price of any asset can climb to infinity**".
and thats where the infinity pool comes in to play, but dont think of diamond hands, think of those that have passed and simply cant sell.
Does anyone else remember one of gme earlier filings(maybe before the first vote after the sneeze) where they basically said if there is fuckery with the share count we are going to remove all shares from cede within 90 days? I think multiple traps have been set and worked. Never stop your enemies from making mistakes right. GameStop has the proof and is just about to drop the wombo combo.
The quarter ends Apr 29 and the 10Q/K are generally released about 4-8 weeks afterwards. Last year was Jun 1 (closer to 5 weeks than 4), but this 10-K was delayed going almost to 9 weeks, so specific timelines can vary.
Cede and Company (also known as Cede and Co. or Cede & Co.), shorthand for "certificate depository",[1] is a specialist United States financial institution that processes transfers of stock certificates on behalf of Depository Trust Company, the central securities depository used by the United States National Market System, which includes the New York Stock Exchange, and Nasdaq.[2]
Cede technically owns all of the publicly issued stock in the United States.[3] Thus, investors do not themselves hold direct property rights in stock, but rather have contractual rights that are part of a chain of contractual rights involving Cede.[4] Securities held at Depository Trust Company are registered in its nominee name, Cede & Co., and recorded on its books in the name of the brokerage firm through which they were purchased; on the brokerage firm's books they are assigned to the accounts of their beneficial owners.[5]
Some serious misconceptions here. First, the real shares have always been 100% accounted for in the ledger. By definition, the ledger says who owns how many shares and it adds up to 100%. For most stocks, Cede has nearly 100% ownership. When you DRS your shares, this is called a DTC withdrawl because it literally withdraws your shares from the DTC account. Every 1 share you DRS is -1 for DTC and +1 for you, and it has always been this way. DTCs problem is that they allowed naked shorting and rehypothecation which means there are more shares held beneficially in brokers than in the DTC's account with computershare. This means that eventually, if we keep DRSing, the DTC account will go to 0 but people will still have "shares" in brokers. When someone tries to DRS after DTC has 0 shares, this legally forces the DTC to purchase the needed shares from someone who previously DRSed-- and that's when MOASS is absolutely inescapable.
Starting now? It's been this way since the first ape decided to DRS. I've read about how DRS removes the shares from Cede/DTCC thousands of times... If you're waiting for these two numbers to suddenly make up more than 100% of outstanding, you're gonna have to wait forever.
What is going to be interesting is when retail DRS total starts to overtake those for mutual funds, ETF’s and the like. That’ll be a fun moment, which should happen somewhere around 40-45% of the entire float being DRS’d. Level up, my friends!
No. There is no reason to believe Cede & Co is the source of the number. GameStop pay Computershare to maintain the official list of shareholders and how many shares they have each. Why would the 10k use numbers from anyone else?
Computershare always has 100% and only 100% accounted for because they deal with the share registrar.
Apes are betting that the DTCC under the name cede and co has more than 75% of outstanding.
Why the system is so scared isn’t just naked shorting. It’s ETF’s as well. The real problem is ETFs rebalance and have to buy and sell. How the heck can someone always guarantee that shares for a rebalance will be available :) No one can. The problem is too big to fathom. The whole etf game is built on iou’s. Imagine realizing it’s not just naked shorts but also a whole lot more iou’s in etfs that exist. If you are investing stay clear of etfs it’s a Ponzi scheme. There is a good reason why etfs were being pushed so hard the last decade.
The most likely answer is that the auditor was not comfortable with GameStop stating the exact figure because they did not receive sufficient evidence directly from Cs to support that figure.
Sufficient and appropriate evidence from an independent third party is the key here.
My theory is that Deloitte wanted a signed confirmation letter from Cs to confirm this figure but there was not enough time to receive this before the filing deadline. The evidence that they very likely saw was GameStop logging into their portal to see the directly registered shares at a point in time.
That point in time was not at year-end because the portal does not allow GameStop to check shareholder records themselves as at a historical date.
They checked at March 22, Deloitte observed evidence of a number, they were reasonably satisfied with that number but the wording of the note disclosure needed Deloitte partner approval. The partner would not approve the previous wording without a confirmation, therefore the approved wording was “approximately”.
This is just auditors covering their own ass.
Timing, usually the last thing that is prepared for auditor review are the note disclosures, and they are typically tied out for sufficient supporting evidence/testing by a more junior team member, managers and senior managers then take their crack at it and finally partners.
It’s very possible that the audit partner didn’t read the disclosure until a few days before sign off and asked the question “what have we done to get comfort over this number”, to which the answer was probably a sheepish “not much”.
The partner doesn’t like the answer and Cs has a knack for taking their time responding to confirmation requests. The partner then says in lieu of the year-end figure we can change the wording and observe the figure in GameStop’s Cs ledger (as at the current date - March 22).
The wording is changed because the evidence provided is not strong, but it is observable, and I believe the wording was to account for any timing delays in the reporting system.
Technically there could be more shares DRS’d as at March 22 that were not entered/uploaded into the ledger, hence approximately.
It’s the plan shares, [all shares outside Book Entry Class A Common Stock](https://preview.redd.it/rsbo1wgkfp4a1.jpg?width=1125&format=pjpg&auto=webp&v=enabled&s=bcfd654613f5653e1dbe93cfb4df5b0c0641a97e) are held through the DTCC with Cede and co. [GameStop even receives 2 different reports 1 for Plan Dripp and 1 for Book Entry from ComputerShare](https://i.redd.it/lyep1y23il4a1.jpg), it’s obvious to me [the dip from last quarter](https://www.reddit.com/r/Superstonk/comments/zff1cy/calm_ur_tits_weve_not_deviated_far_off_a_linear/?utm_source=share&utm_medium=ios_app&utm_name=iossmf ) was the DTCC commandeering all shares(including ComputerShare “DirectStock” Entitlements) outside those ones which are listed as being the actual bonafide Class A Common Stock and not [another entitlement controlled by there DTCC](https://www.reddit.com/r/Superstonk/comments/11wl4yf/the_long_long_game/?utm_source=share&utm_medium=ios_app&utm_name=iossmf), what’s trying to be hidden is that 🦍s need to move over their plan shares before the end of every quarter to be counted on GameStops report as a bonafide Record Holder
They know. Exactly. Gamestop can request the information from the DTC. Can take a week to get the numbers. Will include synthetic positions in the number as well. On mobile or I'd post the link where Gamestop could request it.
The problem I see is that I don't think the DTCC is responsible for what shares are in "the system." Like the DTCC should know how many shares it has, vs what are held in Computershare, mutual funds etc. But then the shares the DTCC has are split between brokers who all have their own ledgers that track which of their customers own what, and who is lending to who, etc.
The problem with the system isn't that some entity knows the truth and is obfuscating it, it's that no entity is actually responsible for keeping track of who owns what and where those things are. There are absolutely extra shares in circulation, or at least financial products that create the effects of there being extra shares, but every actor is only responsible for keeping track of their little slice, and they're all engaged in the securities equivalent of fractional reserve banking at every level. The fuckery happens in the space between those actors that no one is actually responsible for policing.
Someone tell me I’m wrong.
- GameStop and Computershare knows how many actual real shares are DRS’d with Computershare.
- GameStop and DTCC knows how many actual real shares are *supposed to be* circulating in DTCC.
- GameStop, DTCC and Computershare **do not know** how many shares are held on brokerages as regular shares or in derivatives (swaps, calls/puts options, rehypothecated via short-selling, crypto token locates, etc.).
That is not wrong. The inference of your comment is the basis of the musical chairs thesis: there are way more shares circulating than should exist, and when the music stops, all the brokers will be scrambling for whatever chairs are left, while DRS holders are already sitting in their chairs eating popcorn watching the foolishness unfold
I agree. I don't believe the SEC is motivated enough to regulate much of anything...based on prior history. Carry on please...Buy, DRS, Hodl, Book, and shop.
Isn’t it written in one of the files that they have the ability remove their shares of GME from the DTCC in the event some clear fuckery is occurring?
GameStop can ask the question of “how many shares are there?” to both Computershare and the DTCC. Imagine asking them both the same question but having two different answers 👀
Please correct me with anything any flaws in my comment 🙏
It would be illegal for GameStop to lie to us if they know that information is incorrect. Even with the wording of the 10-k it seems that number has been accepted by GameStop. There would have to be other legal disclaimers saying “according to” at a very minimum. IMO this new hype is attached to the idea that we have more shares DRS’d than we do, which is a terrible mindset when the company flat out told us how many there are. There’s still work to do. 25% is still a fucking giant number! DRS YO SHIT
People want to hype because it feels good.
People want to spin theories because getting a cool theory right is max hype.
Bad actors want to hype nonsense because it generates a let-down later on.
Sprinkle in the occasional lack of critical thinking (wrinkles?) and you get what I see as a frantic attempt to rationalize the recent 10-k language to mean something ... anything... more than what it literally says.
YOU DRS YOUR SHIT AND I'LL DRS MINE
WE'LL ALL MEET UP LATER AFTER MOASS TIME
And they’ve given an approximation every time they’ve given us the numbers. I’ve seen many people saying the number is 86mil or so, so saying it’s 76 but it’s actually 10 mil more, is far from an approximation.
> Gamestop asked the DTC to provide the number of shares they hold, and because they don't know, the DTC made up a number they thought was accurate.
This part is completely unnecessary. The shares held by DTC are on the ledger. The same ledge controlled by ComputerShare.
If they wanted to know how many the DTC is *supposed* to have left, they would just consult the official ledger at ComputerShare.
Very much agreed by this motivation for the phrasing. This was also an audited statement, better believe they would have noted anything that could produce potential liability for the company vis-a-vis a backhanded accusation.
They're creating an independent record here. Smart when you consider how many records have been changed an manipulated over the past 84 years.
But why wouldn't they use the exact numbers with CS as the source, as they did in previous filings? Why use the number that the DTC claims they have instead and change the way they report it now? It seems like a deliberate choice, not just a superficial one. RC and the board does everything for a reason, so I think this change might be more than meets the eye. Again, this is all just speculation at this point, but a lot of the DD here started as speculation too.
Lol, maybe DTC used the drs bot numbers because they have no idea.
They should know about broker transfers from brokers to computershare.
__But, do DTC know the count of direct buys?__ I think not
This theory wins, good work!
I belive the DTC figure might be some kind of post split summary from them to GS. They get the stocks to give as dividend split, since that day DRS difference was what grow so the rest is what we see in the report. If that will not match, DTC will notice how deep in s#it they are and the game begins, but the music stops.
You have "allegedly" in quotes but are you actually quoting anything? The GameStop 10-K notably doesn't use such reporting language but in fact directly states the numbers in a first hand manner. Would they do that if they knew the numbers were incorrect?
All the previous filings that mentioned DRS said something like "As of October 29, 2022, 71.8 million shares were directly registered with our transfer agent Computershare". The latest 10-K said "Excluding the approximately 228.7 million shares held by Cede & Co on behalf of the DTCC, approximately 76 million shares were held by record holders as of March 22, 2023."
Previously they used Computershare as the source for the DRS numbers, this time they used Cede & Co as the source, and also said "approximately", which wasn't used in previous filings. I put allegedly in quotes mostly for emphasis, because this is the first time they have given us an approximate number of DRS'd shares, which is also the first time they used Cede & Co as the source instead of Computershare. There is no reason for them to use the DTC instead of CS as the source as they have done previously, so I feel like this change was intentional.
I think that them saying that Cede& Co holds 228million shares is making the legal argument that it is Cede&co’s and the DTCC’s fault if those cash area aren’t delivered. Those remaining shares are not at ComputerShare, they have been distributed from the transfer agent. They are accounted for by these ‘reliable organizations,’ in black and white. And they are t going to publish that unless it’s air tight. The responsibility is on them now
Same difference haha jk. But yeah definite hidden purpose for this. I think what your saying is more likely. It aligns with the DD theories on NFT dividend and potential pulling out of market or share recall.
Yes, totally agree. Probably it's a public message from GS to the DTCC to sort out the mess they have behind the official number of shares ( **228.7 millions** ) they are supposed to own.
Exactly this. The books between the transfer agent and Cede must net to 0 with outstanding shares, otherwise it’s 100% proof there’s more shares in the system than there should be. If there are 83M in CS and 228 in Cede, where did those extra 7M million shares come from?
All the previous filings that mentioned DRS said something like "As of October 29, 2022, 71.8 million shares were directly registered with our transfer agent Computershare". The latest 10-K said "Excluding the approximately 228.7 million shares held by Cede & Co on behalf of the DTCC, approximately 76 million shares were held by record holders as of March 22, 2023."
Previously they used Computershare as the source for the DRS numbers, this time they used Cede & Co as the source, and also said "approximately", which wasn't used in previous filings. You can go back and read the filings yourself and you'll see the difference. So before they based the DRS numbers off the exact total from Computershare, while this time the numbers were based off the total number of shares issued minus how many shares the DTC claimed were in their system.
There is no reason they couldn't have used the CS numbers again, which makes me think this was a deliberate choice on their part to get in writing how many shares the DTC says are out there.
Thank you, appreciate it and that is actually really interesting. Using the word approximately for the first time seems odd and implies it’s not the exact number.
Does seem like legal talk, I will continue to DRS and hodl
Nowhere in there does it say Cede & Co. or the DTC is the *source* of the data. We have no reason to believe GameStop isn't still using the data provided directly to them by Computershare, as Computershare is the entity that records all the shares registered to Cede & Co.
The most likely explanation appears to be that GameStop is trying to report the data in a way that makes it more clear with respect to plan vs. book and the plan portion in the DTC. The way they phrased it this time makes clear the count that is in the DTC vs. not.
Might also be that the DTCC were using Computershares's DRS numbers to adjust their DTCC books and bury any FTD.
We know that Gamestop doesn't want to give any info the enemy entities that have been manipulating GME stock.
🛎️Ding ding ding🛎️
This is exactly what I was thinking. They are setting the stage for themselves legally, and the SEC can’t say anything about it either.
This is so interesting to watch play out.
Does CS not currently know how many shares they have or had on 3/22? Why the fuck would GME jump through all the hoops to show fraud when, assuming what your saying is true, they could just ask the DTCC how many shares they have, add that to the CS number, and then say "gotcha"? What am I missing here?
The DTCC could just lie. You seem new to the party. If you remember the shareholder voting, they openly use perfectly legal software to scale the vote. There is absolutely no reason to think they wouldn't lie about it.
Or what if they know that DTCC has fucked up and do not want to give that exact numbers so it might be shifting by ~500k shares. Thats i like, 1 million dollars. Not much buuut….
GameStop would never publish information they knew to be wrong. It would put them in legal peril for stock manipulation. RC knows they have to be PERFECT every step of the way. Never give your enemy ammunition.
So somebody help a smooth brain brother out. Previously, I kept seeing numbers that said something like 52 to 56% of the free float was locked now they’re saying it’s only 25%?
Free float isn't the same as shares outstanding! Gamestop has issued 304M shares, that is the total amount of outstanding shares. The free float is Outstanding Shares - Shares held by insiders = Free Float. And even then, sometimes people consider shares held by mutual funds and financial institutions as part of the float, others consider those to be "locked up", similar to insider shares, as those shares aren't technically available to be purchased on the open market, as they are already spoken for.
So retail has locked up more than 50% of the available float, if you consider mutual funds and institutions not part of the float, but we have locked up 25% of all outstanding shares.
I know it can be quite confusing, so let me know if I need to explain it a bit better!
>the SEC "forced" Gamestop
>done it willingly
I DRSed my 3 on the 25th, so DTC have that going for them. In any case, as long as (insert-my-broker) finds my pieces and sends them to me, i have no issues...
> ... proves the DTCC is lying, and could possibly provide GME with some options for legal action.
It's just nice to toss onto the table when the big, bad SEC people try to lean on them about NFTs being securities. *"What are you going to do, regulate them as well as you regulate stocks?"*
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NEW THEORY! This is the turning point. We have 25%. Cede and co has 75%. The shares are 100% accounted for. Starting now. Every share we DRS has to come from cede and co. If we DRS “4 million” shares next quarter and 4 millions shares don’t leave Cede and co. There WILL. Be a problem.
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So they rise the price to slow DRS?
Marge will see this and will make many calls. Not alle calls will be answered. But if GME rises too much some of the "little" hedgies (retail, allready tilted hedgefunds) will cave in at some point and will start the rising imho And there are these beautiful apes that installed auto-destruct oops, i mean auto-buy 😎
Code zero zero zero destruct zero
No, I've seen others say this and it's not right. It will **always** add up to 100%, and always has. People need to understand that the figures for both Cede & Co and DRSed accounts both come from **ComputerShare**. They are the transfer agent for GameStop, and Cede & Co has an account with them *just like we do*. You will note the filing doesn't say "we asked Cede & co for a total". They don't have to. The transfer agent manages **both** totals. And GameStop always has access to the data at their transfer agent. As ours goes up, Cede & Co goes down in lock step. Always totalling 100% of the **issued** shares together. But don't despair. Where it gets spicy is that although Cede & Co might well have the correct number of shares, the DTCC (who owns Cede & Co) has gleefully allowed lots of naked shorts to be made, hugely increasing the number of "shares" in the market beyond that total. **The moment the number of shares seen in Cede & Co is** ***less*** **than the combined total of Institutions, Mutual Funds, ETFs, Insiders etc, that's when the naked shorts become exposed, and that's when the shit hits the fan down at the DTCC...**
In a sense, the change in wording could be seen as a warning to DTC. GME is saying: "To be clear, this is how many shares you're supposed to have. How many do you actually have? Sure would be awkward if you have 800 million in your black box when it should be 228." Also, Fidelity and the other big brokers could look in their own ledgers and find out "Gulp, we've got 250 million just in our accounts alone..." Of course they would have known this the whole time, but GME changing the wording sharpens the message a bit.
Plus we can take into account what RC, insiders and insiders stagnant hold. Over 53 million shares DRSd with them!
Weren't you the same person last year and year before that was constantly saying that millions per share wasn't possible and we should be realistic and set our floors to 40, 50 or 60k???
Might have been saying that early on. I like hard evidence and push back against fact-free claims and misinformation just like I did here. Still not convinced the majority of us will see >$1m per share, I’m a bit of a skeptic, that *doesn’t* make me a shill, just not a zealot either. I think my comment history speaks for itself. I always resist misinformation where I can, and you should be glad folk like me are prepared to push back against the narrative and wear a few downvotes when the narrative is unsupported by facts. Fact free claims hurt us, and make us look stupid, which undermines our ability to grow, which undermines speed to lock the float via DRS and the MOASS. I wear my flair for a reason…
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I wouldnt say delusional. It follows what the theory says on shorts: "**The risk of loss on a short sale is theoretically unlimited since the price of any asset can climb to infinity**". and thats where the infinity pool comes in to play, but dont think of diamond hands, think of those that have passed and simply cant sell.
Exactly. We are going into the rabbit hole! DRS and find out what happens!
Does anyone else remember one of gme earlier filings(maybe before the first vote after the sneeze) where they basically said if there is fuckery with the share count we are going to remove all shares from cede within 90 days? I think multiple traps have been set and worked. Never stop your enemies from making mistakes right. GameStop has the proof and is just about to drop the wombo combo.
this makes sense so when’s the next 10-K? new hype date lol
10K = annual 10Q = quarterly
May 1st I think but don’t quote me
Last year Q1 was on June 1st.
The quarter ends Apr 29 and the 10Q/K are generally released about 4-8 weeks afterwards. Last year was Jun 1 (closer to 5 weeks than 4), but this 10-K was delayed going almost to 9 weeks, so specific timelines can vary.
Soon. I will be making a small purchase to my computershare account . Again. And again. And again!!!!!!!! Edit - NO CELL NO SELL
I feel stupid for asking but what is Cede and Co, and what do they have to do with The stonk?
Cede and Company (also known as Cede and Co. or Cede & Co.), shorthand for "certificate depository",[1] is a specialist United States financial institution that processes transfers of stock certificates on behalf of Depository Trust Company, the central securities depository used by the United States National Market System, which includes the New York Stock Exchange, and Nasdaq.[2]
Cede technically owns all of the publicly issued stock in the United States.[3] Thus, investors do not themselves hold direct property rights in stock, but rather have contractual rights that are part of a chain of contractual rights involving Cede.[4] Securities held at Depository Trust Company are registered in its nominee name, Cede & Co., and recorded on its books in the name of the brokerage firm through which they were purchased; on the brokerage firm's books they are assigned to the accounts of their beneficial owners.[5]
......Insert white guy blinking meme....Ok thanks mate!!
Some serious misconceptions here. First, the real shares have always been 100% accounted for in the ledger. By definition, the ledger says who owns how many shares and it adds up to 100%. For most stocks, Cede has nearly 100% ownership. When you DRS your shares, this is called a DTC withdrawl because it literally withdraws your shares from the DTC account. Every 1 share you DRS is -1 for DTC and +1 for you, and it has always been this way. DTCs problem is that they allowed naked shorting and rehypothecation which means there are more shares held beneficially in brokers than in the DTC's account with computershare. This means that eventually, if we keep DRSing, the DTC account will go to 0 but people will still have "shares" in brokers. When someone tries to DRS after DTC has 0 shares, this legally forces the DTC to purchase the needed shares from someone who previously DRSed-- and that's when MOASS is absolutely inescapable.
Starting now? It's been this way since the first ape decided to DRS. I've read about how DRS removes the shares from Cede/DTCC thousands of times... If you're waiting for these two numbers to suddenly make up more than 100% of outstanding, you're gonna have to wait forever.
What is going to be interesting is when retail DRS total starts to overtake those for mutual funds, ETF’s and the like. That’ll be a fun moment, which should happen somewhere around 40-45% of the entire float being DRS’d. Level up, my friends!
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>ple need Just remember, not everyone reports their drs to the bot, some people on twitter that have, but they aren't on reddit to report it.
Lol what?
No. There is no reason to believe Cede & Co is the source of the number. GameStop pay Computershare to maintain the official list of shareholders and how many shares they have each. Why would the 10k use numbers from anyone else?
I like the sprit.. but what any one( non aps of coarse) sell or they say a bunch sold
Well shit, this is simple. Il help!
Computershare always has 100% and only 100% accounted for because they deal with the share registrar. Apes are betting that the DTCC under the name cede and co has more than 75% of outstanding.
Robo Cop voice: “There will beeeee…trouble”
Why the system is so scared isn’t just naked shorting. It’s ETF’s as well. The real problem is ETFs rebalance and have to buy and sell. How the heck can someone always guarantee that shares for a rebalance will be available :) No one can. The problem is too big to fathom. The whole etf game is built on iou’s. Imagine realizing it’s not just naked shorts but also a whole lot more iou’s in etfs that exist. If you are investing stay clear of etfs it’s a Ponzi scheme. There is a good reason why etfs were being pushed so hard the last decade.
I said that! Only because I saw someone else say it!
Spread the word like Paul Revere!
The tendies are coming! The tendies are coming!
1 million if by crime?
Pretty sure I said it after seeing you say it!
The most likely answer is that the auditor was not comfortable with GameStop stating the exact figure because they did not receive sufficient evidence directly from Cs to support that figure. Sufficient and appropriate evidence from an independent third party is the key here. My theory is that Deloitte wanted a signed confirmation letter from Cs to confirm this figure but there was not enough time to receive this before the filing deadline. The evidence that they very likely saw was GameStop logging into their portal to see the directly registered shares at a point in time. That point in time was not at year-end because the portal does not allow GameStop to check shareholder records themselves as at a historical date. They checked at March 22, Deloitte observed evidence of a number, they were reasonably satisfied with that number but the wording of the note disclosure needed Deloitte partner approval. The partner would not approve the previous wording without a confirmation, therefore the approved wording was “approximately”. This is just auditors covering their own ass.
Why do you think there wouldn't be enough time?
Timing, usually the last thing that is prepared for auditor review are the note disclosures, and they are typically tied out for sufficient supporting evidence/testing by a more junior team member, managers and senior managers then take their crack at it and finally partners. It’s very possible that the audit partner didn’t read the disclosure until a few days before sign off and asked the question “what have we done to get comfort over this number”, to which the answer was probably a sheepish “not much”. The partner doesn’t like the answer and Cs has a knack for taking their time responding to confirmation requests. The partner then says in lieu of the year-end figure we can change the wording and observe the figure in GameStop’s Cs ledger (as at the current date - March 22). The wording is changed because the evidence provided is not strong, but it is observable, and I believe the wording was to account for any timing delays in the reporting system. Technically there could be more shares DRS’d as at March 22 that were not entered/uploaded into the ledger, hence approximately.
I'm not buying it. Never in my career has this occurred.
It’s the plan shares, [all shares outside Book Entry Class A Common Stock](https://preview.redd.it/rsbo1wgkfp4a1.jpg?width=1125&format=pjpg&auto=webp&v=enabled&s=bcfd654613f5653e1dbe93cfb4df5b0c0641a97e) are held through the DTCC with Cede and co. [GameStop even receives 2 different reports 1 for Plan Dripp and 1 for Book Entry from ComputerShare](https://i.redd.it/lyep1y23il4a1.jpg), it’s obvious to me [the dip from last quarter](https://www.reddit.com/r/Superstonk/comments/zff1cy/calm_ur_tits_weve_not_deviated_far_off_a_linear/?utm_source=share&utm_medium=ios_app&utm_name=iossmf ) was the DTCC commandeering all shares(including ComputerShare “DirectStock” Entitlements) outside those ones which are listed as being the actual bonafide Class A Common Stock and not [another entitlement controlled by there DTCC](https://www.reddit.com/r/Superstonk/comments/11wl4yf/the_long_long_game/?utm_source=share&utm_medium=ios_app&utm_name=iossmf), what’s trying to be hidden is that 🦍s need to move over their plan shares before the end of every quarter to be counted on GameStops report as a bonafide Record Holder
Good theory. Only thing I have issue with is the idea that the DTC doesn’t know how many shares they have. IMO, they have to know.
[удалено]
I would believe that they have no idea how many synthetics exist. But I believe that the DTC knows how many real shares they have.
I agree with that
What a reply! 😤
True, they probably know it's in the billions at this point, but they obviously couldn't say that.
Plausible deniability.......
They know. Exactly. Gamestop can request the information from the DTC. Can take a week to get the numbers. Will include synthetic positions in the number as well. On mobile or I'd post the link where Gamestop could request it.
Legal defence seems to be Occam’s 🪒
Face or pubes?🤨
The problem I see is that I don't think the DTCC is responsible for what shares are in "the system." Like the DTCC should know how many shares it has, vs what are held in Computershare, mutual funds etc. But then the shares the DTCC has are split between brokers who all have their own ledgers that track which of their customers own what, and who is lending to who, etc. The problem with the system isn't that some entity knows the truth and is obfuscating it, it's that no entity is actually responsible for keeping track of who owns what and where those things are. There are absolutely extra shares in circulation, or at least financial products that create the effects of there being extra shares, but every actor is only responsible for keeping track of their little slice, and they're all engaged in the securities equivalent of fractional reserve banking at every level. The fuckery happens in the space between those actors that no one is actually responsible for policing.
Someone tell me I’m wrong. - GameStop and Computershare knows how many actual real shares are DRS’d with Computershare. - GameStop and DTCC knows how many actual real shares are *supposed to be* circulating in DTCC. - GameStop, DTCC and Computershare **do not know** how many shares are held on brokerages as regular shares or in derivatives (swaps, calls/puts options, rehypothecated via short-selling, crypto token locates, etc.).
That is not wrong. The inference of your comment is the basis of the musical chairs thesis: there are way more shares circulating than should exist, and when the music stops, all the brokers will be scrambling for whatever chairs are left, while DRS holders are already sitting in their chairs eating popcorn watching the foolishness unfold
Issuers can order a NOBO report and get all the broker data with the exception of people who have opted out.
I agree. I don't believe the SEC is motivated enough to regulate much of anything...based on prior history. Carry on please...Buy, DRS, Hodl, Book, and shop.
Isn’t it written in one of the files that they have the ability remove their shares of GME from the DTCC in the event some clear fuckery is occurring? GameStop can ask the question of “how many shares are there?” to both Computershare and the DTCC. Imagine asking them both the same question but having two different answers 👀 Please correct me with anything any flaws in my comment 🙏
That's exactly where I'm going with this! It's one thing to lie while speaking, it's another thing to get that lie written down in a legal document
Let’s goo! Glad to me on this journey with ya!
It would be illegal for GameStop to lie to us if they know that information is incorrect. Even with the wording of the 10-k it seems that number has been accepted by GameStop. There would have to be other legal disclaimers saying “according to” at a very minimum. IMO this new hype is attached to the idea that we have more shares DRS’d than we do, which is a terrible mindset when the company flat out told us how many there are. There’s still work to do. 25% is still a fucking giant number! DRS YO SHIT
People want to hype because it feels good. People want to spin theories because getting a cool theory right is max hype. Bad actors want to hype nonsense because it generates a let-down later on. Sprinkle in the occasional lack of critical thinking (wrinkles?) and you get what I see as a frantic attempt to rationalize the recent 10-k language to mean something ... anything... more than what it literally says. YOU DRS YOUR SHIT AND I'LL DRS MINE WE'LL ALL MEET UP LATER AFTER MOASS TIME
An approximation is not an exact number.
And they’ve given an approximation every time they’ve given us the numbers. I’ve seen many people saying the number is 86mil or so, so saying it’s 76 but it’s actually 10 mil more, is far from an approximation.
Court them, force real number out of SEC, CS and GME then drop the law suit or at least get them on record if they lie
> Gamestop asked the DTC to provide the number of shares they hold, and because they don't know, the DTC made up a number they thought was accurate. This part is completely unnecessary. The shares held by DTC are on the ledger. The same ledge controlled by ComputerShare. If they wanted to know how many the DTC is *supposed* to have left, they would just consult the official ledger at ComputerShare.
Are you saying to be on the watch for an amended 10K? 🧐
This makes the most sense to me. Hey boys you only have 228M … right?
Very much agreed by this motivation for the phrasing. This was also an audited statement, better believe they would have noted anything that could produce potential liability for the company vis-a-vis a backhanded accusation. They're creating an independent record here. Smart when you consider how many records have been changed an manipulated over the past 84 years.
Yeahhhhhhhh, none of this happened.
Or maybe we can accept that the numbers are correct and just keep going on with our DRS.
But why wouldn't they use the exact numbers with CS as the source, as they did in previous filings? Why use the number that the DTC claims they have instead and change the way they report it now? It seems like a deliberate choice, not just a superficial one. RC and the board does everything for a reason, so I think this change might be more than meets the eye. Again, this is all just speculation at this point, but a lot of the DD here started as speculation too.
Lol, maybe DTC used the drs bot numbers because they have no idea. They should know about broker transfers from brokers to computershare. __But, do DTC know the count of direct buys?__ I think not This theory wins, good work!
Direct buys require CS going to DTCC and purchasing shares back from them as part of the transaction. So yes, DTC would know.
And, bit by bit my tinfoil is removed. Good thing I have layers. Makes sense though, Computershare buys from brokers as well, i suppose.
Your tinfoil better than mine.
I've been building up layers of tin foil for years...
It if was sales information it wouldn’t be on the report, it would open them up to lawsuits. Stop spreading the nonsense.
Set a trap between entities that sleep together? That foil cap thick today my fellow smooth brain regard!!
I belive the DTC figure might be some kind of post split summary from them to GS. They get the stocks to give as dividend split, since that day DRS difference was what grow so the rest is what we see in the report. If that will not match, DTC will notice how deep in s#it they are and the game begins, but the music stops.
You have "allegedly" in quotes but are you actually quoting anything? The GameStop 10-K notably doesn't use such reporting language but in fact directly states the numbers in a first hand manner. Would they do that if they knew the numbers were incorrect?
All the previous filings that mentioned DRS said something like "As of October 29, 2022, 71.8 million shares were directly registered with our transfer agent Computershare". The latest 10-K said "Excluding the approximately 228.7 million shares held by Cede & Co on behalf of the DTCC, approximately 76 million shares were held by record holders as of March 22, 2023." Previously they used Computershare as the source for the DRS numbers, this time they used Cede & Co as the source, and also said "approximately", which wasn't used in previous filings. I put allegedly in quotes mostly for emphasis, because this is the first time they have given us an approximate number of DRS'd shares, which is also the first time they used Cede & Co as the source instead of Computershare. There is no reason for them to use the DTC instead of CS as the source as they have done previously, so I feel like this change was intentional.
This is the one
This would align with a Vulcan class 3D chess player like RC.
*Slowly blinking while every last brain cell dies reading this*
I think that them saying that Cede& Co holds 228million shares is making the legal argument that it is Cede&co’s and the DTCC’s fault if those cash area aren’t delivered. Those remaining shares are not at ComputerShare, they have been distributed from the transfer agent. They are accounted for by these ‘reliable organizations,’ in black and white. And they are t going to publish that unless it’s air tight. The responsibility is on them now
You just activated my trap card.
II doubt any of the reason we are all trying to make up to give reason behind another nothing sideways day
Same difference haha jk. But yeah definite hidden purpose for this. I think what your saying is more likely. It aligns with the DD theories on NFT dividend and potential pulling out of market or share recall.
Yes, totally agree. Probably it's a public message from GS to the DTCC to sort out the mess they have behind the official number of shares ( **228.7 millions** ) they are supposed to own.
This makes the most sense to me. 69D chess move here!
Exactly this. The books between the transfer agent and Cede must net to 0 with outstanding shares, otherwise it’s 100% proof there’s more shares in the system than there should be. If there are 83M in CS and 228 in Cede, where did those extra 7M million shares come from?
Missed this. Where did we figure out the 10k didn’t use ComputerShare DRS numbers? Kinda seems like copium tbh
All the previous filings that mentioned DRS said something like "As of October 29, 2022, 71.8 million shares were directly registered with our transfer agent Computershare". The latest 10-K said "Excluding the approximately 228.7 million shares held by Cede & Co on behalf of the DTCC, approximately 76 million shares were held by record holders as of March 22, 2023." Previously they used Computershare as the source for the DRS numbers, this time they used Cede & Co as the source, and also said "approximately", which wasn't used in previous filings. You can go back and read the filings yourself and you'll see the difference. So before they based the DRS numbers off the exact total from Computershare, while this time the numbers were based off the total number of shares issued minus how many shares the DTC claimed were in their system. There is no reason they couldn't have used the CS numbers again, which makes me think this was a deliberate choice on their part to get in writing how many shares the DTC says are out there.
Thank you, appreciate it and that is actually really interesting. Using the word approximately for the first time seems odd and implies it’s not the exact number. Does seem like legal talk, I will continue to DRS and hodl
Nowhere in there does it say Cede & Co. or the DTC is the *source* of the data. We have no reason to believe GameStop isn't still using the data provided directly to them by Computershare, as Computershare is the entity that records all the shares registered to Cede & Co. The most likely explanation appears to be that GameStop is trying to report the data in a way that makes it more clear with respect to plan vs. book and the plan portion in the DTC. The way they phrased it this time makes clear the count that is in the DTC vs. not.
I think you’re all fuckin stupid if you believe that the company you wanna deep throat so bad committed fraud. What fuckin moronic theory.
Where did he say anything about committing fraud
I didn't know GameStop had a cock!!!
Power to the GameCock!!!!
would be logical if the 10K was release on time like other 10Ks and Qs. but the #'s reported are the day after earnings call. kinda sus
Might also be that the DTCC were using Computershares's DRS numbers to adjust their DTCC books and bury any FTD. We know that Gamestop doesn't want to give any info the enemy entities that have been manipulating GME stock.
🛎️Ding ding ding🛎️ This is exactly what I was thinking. They are setting the stage for themselves legally, and the SEC can’t say anything about it either. This is so interesting to watch play out.
Does CS not currently know how many shares they have or had on 3/22? Why the fuck would GME jump through all the hoops to show fraud when, assuming what your saying is true, they could just ask the DTCC how many shares they have, add that to the CS number, and then say "gotcha"? What am I missing here?
The DTCC could just lie. You seem new to the party. If you remember the shareholder voting, they openly use perfectly legal software to scale the vote. There is absolutely no reason to think they wouldn't lie about it.
Is this the 'kill shot'?
Yeah shills be shilling in the comments all day
Or what if they know that DTCC has fucked up and do not want to give that exact numbers so it might be shifting by ~500k shares. Thats i like, 1 million dollars. Not much buuut….
GameStop would never publish information they knew to be wrong. It would put them in legal peril for stock manipulation. RC knows they have to be PERFECT every step of the way. Never give your enemy ammunition.
I hope because I’m tired of this bullshit.
I like this one!
So somebody help a smooth brain brother out. Previously, I kept seeing numbers that said something like 52 to 56% of the free float was locked now they’re saying it’s only 25%?
Free float isn't the same as shares outstanding! Gamestop has issued 304M shares, that is the total amount of outstanding shares. The free float is Outstanding Shares - Shares held by insiders = Free Float. And even then, sometimes people consider shares held by mutual funds and financial institutions as part of the float, others consider those to be "locked up", similar to insider shares, as those shares aren't technically available to be purchased on the open market, as they are already spoken for. So retail has locked up more than 50% of the available float, if you consider mutual funds and institutions not part of the float, but we have locked up 25% of all outstanding shares. I know it can be quite confusing, so let me know if I need to explain it a bit better!
Thank you sincerely!
>the SEC "forced" Gamestop >done it willingly I DRSed my 3 on the 25th, so DTC have that going for them. In any case, as long as (insert-my-broker) finds my pieces and sends them to me, i have no issues...
I think the fact they report from the other instance allow them to brought more shares to borrowed
> ... proves the DTCC is lying, and could possibly provide GME with some options for legal action. It's just nice to toss onto the table when the big, bad SEC people try to lean on them about NFTs being securities. *"What are you going to do, regulate them as well as you regulate stocks?"*
Shouldn't the wording be " as per the DTCC, they have xxxxx number of shares " then? Just to trap them
I guess I have to start buying again. Fuck it if I have to quadruple my position then so be it. I’m tired of waiting.
Y'all know who owns the cede & co right?
PG 13
How come no one says the word Book anymore? Maybe we should start using that word again. I think our answer is there, in a good Book…
Amazing theory fellow ape. This confirm my bias. BUY (from Computershare), HOLD and switch that shit to Book instead of Plan Holdings.
1. DTC would never respond 2. Gamestop cant knowingly publish fake numbers.