You can sell your shares privately, or you can have a stock broker sell them for you.
iConsumer is quoted on the OTCQB market (RWRDP). Any shares that have been transferred to you can be sold. We do not control the price of our stock or its liquidity (how many people want to buy it or sell it at any given time), so we can’t predict the price at which you’ll be able to sell or buy our stock.
For shares earned through shopping and other member-related activities it's a two step process. Getting the shares from our system into the transfer agent's system, and then getting a stock broker to move them from the transfer agent's system to the stock broker's system.
Shares that you purchase are automatically transferred to the transfer agent in the month after your purchase.
Confirm Information & transfer earned shares via iConsumer.com
1. Check your iConsumer membership - confirm your address is accurate and up to date.
2. Ensure that your Social Security Number is accurate and listed on My Settings page.
3. Under My Stats page on iConsumer, click the 'Transfer My Earned Shares" button. Follow instructions to transfer your shares to the transfer agent (Issuer Direct). There may be a fee associated with transferring shares.
4. Shares will be issued at the beginning of the next month after your request. It may take a few weeks for the transfer to process, at which point, Issuer Direct will email you (via the email address we have listed in your iConsumer member settings).
How to sell iConsumer shares:
Any shares that you've earned or purchased and that have been transferred to the transfer agent may be sold. Click here to learn about transferring your earned shares.
- Contact your stock broker and instruct them to transfer your shares from the transfer agent (Issuer Direct). Only certain brokerages accept "penny stocks" - generally that's stocks priced less than $1. Many brokers charge a fee for this service.
- If you don't have a stock broker, TD Ameritrade (stopped, apparently, in August 2019) and Fidelity have been accepting transfers of iConsumer stock (RWRDP). Here is a very helpful page on the Ameritrade site. And here's the form you'll fill out for Ameritrade. Here's the form for Fidelity. You may also need an "origin" document. Basically, how got your shares. That's usually your subscription agreement. For purchased shares, you get that from FundAmerica. For earned shares, that the My Stats Page / Transferred Shares. Sometimes, that's usually our offering circular, which is on the SEC site. There are actually several versions of that document, so if there's a problem, just visit our site for a listing. You will also need your Issuer Direct account number (see item 4 below).
- TD Ameritrade and Fidelity are generally self-service brokers, but they do have store front locations around the U.S. If you own several thousands of iConsumer shares, and want more personalized (but probably more expensive) attention we have identified several boutique brokerage firms that will work with you to transfer and sell your iConsumer shares. Just contact us.
- The transfer agent is Issuer Direct. They sent you account information when your iConsumer stock was transferred to you. If you need your information again, there is a "Contact Us" link on the Issuer Direct page. The transfer agent charges a fee to transfer stock. Your brokerage may absorb the fee, or they may charge you.
- As of July 5, 2018 Issuer Direct was charging $25 for this service. As of August 1, 2019 (and ending January 11, 2020) if you are transferring 5,000 shares or more, iConsumer will cover the $25 cost of this fee. As of December, 2019 Issuer Direct raised the fee to $50. As of January 12, 2020, if you transfer 10,000 shares or more to a brokerage account, iConsumer will cover the $50 cost of this fee.
For additional understanding of stock liquidity, and updates of what iConsumer is working on to generate a market for the stock you own, we suggest you follow our CEO's blog posts on Shareholder Academy.