Bancorp International Group Inc (fka BCIT)

[mretgnol]

help me out here... even if by some miracle the dtc has to make things right, this pos is not going to trade again so what's the point? the dtc and/or brokerages will just buy certs from megas.
why go trough the trouble just to enrich that grease dog megas?

No, it will never ever trade again. No one will sign off on a 15c211 for so many missing filings. The whole this-will-trade-again crap was so delusional.

The point is, the DTC cannot account for somewhere between 60 to 80 million shares if you ignore the 240 Million involved with the Capital Growth Financial issue. Megas settled those for pennies on the dollar regardless of what excuse he claims. The DTC allowed 328 Million total shares into the market and those were used to create pre-lock sales. Some money that never went to the company.

Those 60-80 Million shares still have to be accounted for. They will go thru the TA/ Todd and used to get some value back to the shareholders. Something, is better than nothing.

Throw in that James Femia has passed around a statement claiming he has all 328 Million shares when he does not. What we are doing is putting Femia in a position where he cannot lie to the NYAG's office or he violates NY state law. Under the Martin Act, it could get worse than just fixing their error. An error where they sent out a letter begging for the counterfeit shares back, did not notify the proper authorities about those fraudulent shares, and then used the shares as legit securities. There's way more carrot to this, but basically, there's enough documentation available to show the DTC screwed up bad and called in a favor from the SEC.

The amount they owe will not be the crazy amounts people want either, but it will be something versus nothing.