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SECURITY FIRST INTERNATIONAL HOLDINGS, INC (OTC:SCFR) IDENTIFIES A LARGE CONCENTRATION OF PHANTOM SHARES
Business
Apr 28 2023
4 min read

SECURITY FIRST INTERNATIONAL HOLDINGS, INC (OTC:SCFR) IDENTIFIES A LARGE CONCENTRATION OF PHANTOM SHARES

Security First International Holdings, Inc (SCFR) has uncovered a phantom share issue with the
companies trading float.


The companies CUSIP is not full service and coded as custody only, brokerage firms are required to hold the paper certificate on behalf of their clients. By carefully reviewing the transaction history for the past 3 years and monitoring the holdings of each brokerage firm, it has become known that there is a significant imbalance of shares in street name versus actual paper certificates.


The phantom share issue has created a trading float that is larger than the unrestricted free trading
shares available in the company security.


The process of trading a paper company is much like trading a full service CUSIP with the difference
being a full service CUSIP company electronically transfers shares through the Depository Trust
Company (DTC) where a non-DTC company shares remain in certificate form and transferred from
brokerage firm to brokerage firm through a verified transfer agent.


The company has identified that a large percentage of trades have not been completed and a large
number of phantom shares are held by clients of firms without the underlying assets being held on their behalf.


Security First Intenational Holdings, Inc has contacted brokerage firms in required to the imbalance.

https://scfrholdings.com