DWAC stock transfer agent is Continental Stock Transfer & Trust (https://continentalstock.com/) if you wish to Direct Register your shares and remove them from potential manipulation by the exchanges. Here is more info on Direct Registration and what it does (setup by GME apes): https://www.drsgme.org/
Per a phone call with Continental, they currently do NOT have an investment plan for DWAC (also called DRIP). However, if you initiate a DRS from your broker (such as Fidelity), Fidelity will send the shares to Continental with your individual information on file at Fidelity. The process is that Continental then sends to your mailing address your account statement and login information to get access to the account. So make sure your broker profile information is the correct information since Continental will use that exact same info to send you statements. I have not done this yet, but I plan to initiate a "test transfer" DR of 10 shares next week to Continental. Once the shares arrive at Continental, they should be held as "Book" which is the most restrictive lockdown on the shares (to be verified in a couple weeks). [Incoming GME shares into ComputerShare Transfer Agent always show up as "Book"].
At the very least you should instruct your Broker to move all DWAC (stock) and DWACW (warrants) holdings to cash from margin if you have a margin account (via journal change request with Broker help desk) to restrict the ease of your broker lending those DWAC shares out to Short Hedge Funds (SHF). Note that most Brokers are requiring 100% on DWAC anyway, so they are not allowing you to borrow against them, but they may be letting others borrow them (this means your House Surplus should not decrease when you do the margin-to-cash journal change for DWAC shares only).
Do be aware (because I have already done this process for 1 share), there is No ability or way to sell your shares once Continental has your shares.
If you plan to sell, you must reverse the DRS back to your broker to sell.
Good point. Yes, the DRS process is intended for long-term shareholders that want full individual control and certificate ownership (vs custodial ownership through a Broker). Any sales need to be planned far in advance and make take some time to complete. It is not really intended for active traders.
I’m not a tax advisor or financial advisor. I don’t give financial advise. I transferred 1 from fidelity and it cost nothing for the DRS transfer. I have also reversed a DRS for GME once back to Fidelity. This transfer also cost me nothing. The only taxable event is selling, short or long. Short is less than 1yr ownership and is taxed higher, long is more than 1yr ownership and is taxed lower.
If I want to start buying, where I should go? I don’t want brokers or anything like transfer in etc. I just want direct purchase like I do with GME in computer share. Please and thank you. God bless all of you.
There is currently NOT a direct investment plan (DRIP) for DWAC like there is for GME. When one is created, it will be at the transfer agent which is currently Continental. So current buying must be done at broker. Fidelity is the best, imo.
What I am doing is DRS for every 50 shares I accumulate in the future at a broker after I get my current stash moved over to Continental. Look at it like your broker is your trader and Continental is your share vault. After the Truth merger is completed, there likely will be a ticker change (TMTG) and an investment plan at the transfer agent may be setup at that time. For low immediate capital expenditure check out DWACW (warrants) on the SEC website: https://www.sec.gov/edgar/browse/?CIK=1849635&owner=exclude
This is a similar concept to buying your Bitcoin on Coinbase and then transferring to a hardware wallet you can take offline (Bitcoin vault). Yet another analogy is buying land with an LLC then transferring to yourself individually to get the allodial title via Land Patent paperwork and posting (Land Patent vault).
Thank you so much. I don’t have a lot of experience doing this kind of transaction. Thank you for the tip of the house however I don’t have a lot of money and don’t have a house. I ish I can have my own house. Maybe in my dreams.
187 shares right here. Still buying weekly.
DWAC stock transfer agent is Continental Stock Transfer & Trust (https://continentalstock.com/) if you wish to Direct Register your shares and remove them from potential manipulation by the exchanges. Here is more info on Direct Registration and what it does (setup by GME apes): https://www.drsgme.org/
Per a phone call with Continental, they currently do NOT have an investment plan for DWAC (also called DRIP). However, if you initiate a DRS from your broker (such as Fidelity), Fidelity will send the shares to Continental with your individual information on file at Fidelity. The process is that Continental then sends to your mailing address your account statement and login information to get access to the account. So make sure your broker profile information is the correct information since Continental will use that exact same info to send you statements. I have not done this yet, but I plan to initiate a "test transfer" DR of 10 shares next week to Continental. Once the shares arrive at Continental, they should be held as "Book" which is the most restrictive lockdown on the shares (to be verified in a couple weeks). [Incoming GME shares into ComputerShare Transfer Agent always show up as "Book"].
At the very least you should instruct your Broker to move all DWAC (stock) and DWACW (warrants) holdings to cash from margin if you have a margin account (via journal change request with Broker help desk) to restrict the ease of your broker lending those DWAC shares out to Short Hedge Funds (SHF). Note that most Brokers are requiring 100% on DWAC anyway, so they are not allowing you to borrow against them, but they may be letting others borrow them (this means your House Surplus should not decrease when you do the margin-to-cash journal change for DWAC shares only).
Do be aware (because I have already done this process for 1 share), there is No ability or way to sell your shares once Continental has your shares. If you plan to sell, you must reverse the DRS back to your broker to sell.
Good point. Yes, the DRS process is intended for long-term shareholders that want full individual control and certificate ownership (vs custodial ownership through a Broker). Any sales need to be planned far in advance and make take some time to complete. It is not really intended for active traders.
I just checked my account and DWAC is up 17.23%
Is there fees that need to be covered to avoid taxes on selling to cover the transfer?
I’m not a tax advisor or financial advisor. I don’t give financial advise. I transferred 1 from fidelity and it cost nothing for the DRS transfer. I have also reversed a DRS for GME once back to Fidelity. This transfer also cost me nothing. The only taxable event is selling, short or long. Short is less than 1yr ownership and is taxed higher, long is more than 1yr ownership and is taxed lower.
If I want to start buying, where I should go? I don’t want brokers or anything like transfer in etc. I just want direct purchase like I do with GME in computer share. Please and thank you. God bless all of you.
There is currently NOT a direct investment plan (DRIP) for DWAC like there is for GME. When one is created, it will be at the transfer agent which is currently Continental. So current buying must be done at broker. Fidelity is the best, imo.
What I am doing is DRS for every 50 shares I accumulate in the future at a broker after I get my current stash moved over to Continental. Look at it like your broker is your trader and Continental is your share vault. After the Truth merger is completed, there likely will be a ticker change (TMTG) and an investment plan at the transfer agent may be setup at that time. For low immediate capital expenditure check out DWACW (warrants) on the SEC website: https://www.sec.gov/edgar/browse/?CIK=1849635&owner=exclude
This is a similar concept to buying your Bitcoin on Coinbase and then transferring to a hardware wallet you can take offline (Bitcoin vault). Yet another analogy is buying land with an LLC then transferring to yourself individually to get the allodial title via Land Patent paperwork and posting (Land Patent vault).
Thank you so much. I don’t have a lot of experience doing this kind of transaction. Thank you for the tip of the house however I don’t have a lot of money and don’t have a house. I ish I can have my own house. Maybe in my dreams.
Wow