http://www.post-gazette.com/pg/09219/989344-100.stm

looks cool, thanks for posting it

still not posting right...lol try again

Nice!

just copied you on an email to Bull and set4life. They originally set up the state AG stuff and might be able to work with you on that.

What state?

will add it for you, thanks

Getting ready.... spending too much time now getting daughter ready to go off to college in two weeks. After I get that out of the way, It'll be back to paying attention to the steelers..

Pirates...? Pirates...... hmmmmmm that does ring a bell, but I can't quite place it......

It's here http://bcit-shareholders.forumotion.net/broker-check-in-and-share-count-f12/?sid=48c741fd6f0b83dade43e61c60a3e975

This is the sharecount so far from the 108 responses on our website discussion forum

Broker	shareholders	Shares	% of Total 
 TD Ameritrade 	29	30,014,254	35.54 
 E*Trade 	29	26,499,398	31.37 
 Scottrade 	22	14,817,352	17.54 
 Fidelity 	4	2,362,760	2.80 
 Raymond James & Associates 	1	2,300,000	2.72 
 Charles Schwab 	3	1,575,000	1.86 
 Lowtrades 	2	1,538,250	1.82 
 UBSS 	1	1,400,000	1.66 
 CIBC Investors	1	1,000,000	1.18 
 TD Waterhouse 	4	723,000	0.86 
 MyTrack-TrackData 	1	620,000	0.73 
 OptionsExpress	1	400,000	0.47 
 MyTradz 	1	382,000	0.45 
 Janney Montgomery Scott 	1	350,000	0.41 
 Trading Direct 	1	249,000	0.29 
 RBC Direct Investing 	1	120,000	0.14 
 Penson financial	1	110,000	0.13 
 OC Securities	1	100,000	0.12 
 Pershing	2	60,000	0.07 
 Disnat 	1	45,000	0.05 
 Wells Fargo Advisors	1	45,000	0.05 
 Totals	108	84,461,014	100.00

http://bcit-shareholders.forumotion.net/faq-bcit-what-s-the-deal-f7/what-is-a-global-lock-t83.htm?sid=57b639ce2e7769a698c6cfb7d71dd028

yeah, gee, kind of like Megas' august 1st PR of what.... oh FOUR years ago....

sigh.... nice to see them getting around to things.

Whaaaaaaa, poor babies.

Regarding "Suing the DTCC" etc.. I'd be curious as to your take on the legal analysis that Merril Hirsh did for NIPC here:
http://investorprotectioncoalition.org/files/Report_2.pdf

their take is that the DTCC and SRO's are basically immune from civil suits and would seek federal preemption. (page 7)

An amazing statement there is that there is no "private right of action" for an SRO's failure to follow their own rules.

That's yet to be determined, but at least I didn't "lose" yet.

Great! I agree with Masta that it wouldn't have been the end of the world if it had been, but not being on that list is just one less hurdle.

Perhaps I'm missing it, but I dont' see BCIT on the list ftp://ftp.otcbb.com/symboldirectory/07312009.txt

Hmmm, interesting.

Little typo there. Today is July 30, not June 30.

Every broker has told every client that they have good shares of BCIT.

Key difference there is when you buy a penny stock via an online broker you are making your own investment decision and actually purchasing your own stock.

With Madoff, people were relying on him to make those investment decisions for them. He was an advisor and manager of their accounts. Huge difference.

From the website..

"After settling the Pino civil action in January 2006, the company continued its process of regaining “current status” with its financial filings at the SEC. It was current with financial filings by July 2006 and then submitted its form 15c2-11 to NASDAQ for relisting on the OTCBB exchange. After going back and forth with NASDAQ for comments and answers, in October 2006, the 15c2-11 was accepted and the company was relisted on the OTCBB exchange and Legacy Trading was selected as the sponsoring market maker to furnish quoting on the exchange. BCIT should have started trading normally again at this time."

SEC Takes Steps to Curtail Abusive Short Sales and Increase Market Transparency
FOR IMMEDIATE RELEASE
2009-172
Washington, D.C., July 27, 2009 — The Securities and Exchange Commission today announced several actions that would protect against abusive short sales and make more short sale information available to the public.

"Today's actions demonstrate the Commission's determination to address short selling abuses while at the same time increasing public disclosure of short selling activities that affect our markets," said SEC Chairman Mary Schapiro.

First, the Commission made permanent an interim final temporary rule, Rule 204T, that seeks to reduce the potential for abusive "naked" short selling in the securities market. The new rule, Rule 204, requires broker-dealers to promptly purchase or borrow securities to deliver on a short sale. The temporary rule, approved by the SEC in the fall of 2008, was set to expire on July 31.


--------------------------------------------------------------------------------

Additional Materials
Rule 204: Amendments to Regulation SHO (Release No. 34-60388)

--------------------------------------------------------------------------------

Second, the Commission and its staff are working together with several self-regulatory organizations (SRO) to make short sale volume and transaction data available through the SRO Web sites. This effort will result in a substantial increase over the amount of information presently required by another temporary rule, known as Temporary 10a-3T. That rule, which will expire on August 1, applies only to certain institutional money managers and does not require public disclosure.

Apart from these measures, the Commission is continuing to actively consider proposals on a short sale price test and circuit breaker restrictions.

Third, the Commission intends to hold a public roundtable on September 30 to discuss securities lending, pre-borrowing, and possible additional short sale disclosures. The roundtable will consider, among other topics, the potential impact of a program requiring short sellers to pre-borrow their securities, possibly on a pilot basis, and adding a short sale indicator to the tapes to which transactions are reported for exchange-listed securities.

Overview
Short selling often can play an important role in the market for a variety of reasons, including contributing to efficient price discovery, mitigating market bubbles, increasing market liquidity, promoting capital formation, facilitating hedging and other risk management activities, and importantly, limiting upward market manipulations. There are, however, circumstances in which short selling can be used as a tool to manipulate the market.

"Naked" Short Sales: In a "naked" short sale the investor sells shares "short" without first having borrowed them. Such a transaction is permitted because there is no legal requirement that a short seller actually borrow the shares before effecting a short sale.

But, before effecting a short sale, Rule 204T requires that the broker-dealer, as opposed to the seller, "locate" an entity that the broker reasonably believes can deliver the shares within three days after the trade — what's known as T+3. Also, if reasonable, a broker-dealer may rely on a short seller's assurance that the short seller has located his or her own lender that can deliver shares in time for settlement.

"Fails-to-deliver": If an investor or its broker-dealer does not deliver shares by T+3, a "failure to deliver" occurs. Where an investor or its broker-dealer neither locates nor delivers shares, a "naked" short sale has occurred.

A "fail to deliver" can occur for legitimate reasons, such as mechanical errors or processing delays. Further, a "fail to deliver" could occur as a result of a long sale — that is the typical buy-sell transaction — as well as a short sale.

"Fails to deliver", such as fails resulting from potentially abusive "naked" short selling, may have a negative effect on shareholders, potentially depriving them of the benefits of ownership such as voting and lending. They also may create a misleading impression of the market for an issuer's securities.

Adopting Regulation SHO: Due to its concerns regarding persistent "fails to deliver" and potentially abusive "naked" short selling, the Commission adopted Regulation SHO, which became effective in early 2005. This regulation imposes, among other things, the requirement that broker-dealers locate a source of borrowable shares prior to selling short.

In addition, it requires that firms that clear and settle trades must purchase shares to close out these "fails to deliver" within a certain time frame, 13 days. This "close-out" requirement only applies to certain equity securities with large and persistent "fails to deliver," known as threshold securities.

The requirement included two major exceptions: the so-called "grandfather" and "options market maker" exceptions. Both of these exceptions provided that certain "fails to deliver" in threshold securities never had to be closed out. The Commission eliminated both exceptions in August 2007 and September 2008, respectively.

Making Permanent A Rule to Curtail Naked Short Selling
Adopting Rule 204: The Commission has made permanent a temporary rule that was approved in 2008 in response to continuing concerns regarding "fails to deliver" and potentially abusive "naked" short selling. In particular, temporary Rule 204T made it a violation of Regulation SHO and imposes penalties if a clearing firm:

does not purchase or borrow shares to close-out a "fail to deliver"
resulting from a short sale in any equity security
by no later than the beginning of trading on the day after the fail first occurs (T+4).
Cutting Down Failures to Deliver: An analysis conducted by the SEC's Office of Economic Analysis, which followed the adoption of the close-out requirement of Rule 204T and the elimination of the "options market maker" exception, showed the number of "fails" declined significantly.

For example, since the fall of 2008, fails to deliver in all equity securities has decreased by approximately 57 percent and the average daily number of threshold list securities has declined from a high of approximately 582 securities in July 2008 to 63 in March 2009.

Due to the success of these measures in furthering the Commission's goals of reducing fails to deliver and addressing potentially abusive "naked" short selling, the Commission has made permanent the requirements of Rule 204T with only limited modifications to address commenters' operational concerns.

Increasing Transparency Around Short Sales
In the fall of 2008, the Commission also adopted a short sale reporting interim rule, Rule 10a-3T. The rule requires certain market participants to provide short sale and short position information to the Commission.

The Commission made the rule temporary so that it could evaluate whether the benefits from the data justified the costs associated with the rule.

Instead of renewing the rule, the Commission and its staff, together with SROs, are working to substantially increase the public availability of short sale-related information through a series of other actions. These actions should provide a wealth of information to the Commission, other regulators, investors, analysts, academics, and the media.

Specifically, the Commission and its staff are working together with several SROs in the following areas:

Daily Publication of Short Sale Volume Information. It is expected in the next few weeks that the SROs will begin publishing on their Web sites the aggregate short selling volume in each individual equity security for that day.

Disclosure of Short Sale Transaction Information. It is expected in the next few weeks that the SROs will begin publishing on their Web sites on a one-month delayed basis information regarding individual short sale transactions in all exchange-listed equity securities.

Twice Monthly Disclosure of Fails Data. It is expected in the next few weeks that the Commission will enhance the publication on its Web site of fails to deliver data so that fails to deliver information is provided twice per month and for all equity securities, regardless of the fails level. For current fails to deliver information, see http://www.sec.gov/foia/docs/failsdata.htm.

Hosting a Roundtable
Finally, the Commission also is examining whether additional measures are needed to further enhance market quality and transparency, as well as address short selling abuses.

As part of its examination, the Commission intends to hold a public roundtable on Sept. 30, 2009, to solicit the views of investors, issuers, financial services firms, self-regulatory organizations and the academic community regarding a variety of trading and market related practices. The roundtable will focus on issues related to securities lending, pre-borrowing, and possible additional short sale disclosures.

The roundtable panelists will consider, among other things, additional means to foster transparency, such as adding a short sale indicator to the tapes to which transactions are reported for exchange-listed securities, and requiring public disclosure of individual large short positions. Panelists will also consider whether it would be appropriate to impose a pre-borrow or enhanced "locate" requirement on short sellers, potentially on a pilot basis. Additionally, panelists will discuss issues related to securities lending such as compensation arrangements, disclosure practices, and methods of collateral and cash-reinvestment.

# # #



http://www.sec.gov/news/press/2009/2009-172.htm

SEC Takes Steps to Curtail Abusive Short Sales and Increase Market Transparency
FOR IMMEDIATE RELEASE
2009-172
Washington, D.C., July 27, 2009 — The Securities and Exchange Commission today announced several actions that would protect against abusive short sales and make more short sale information available to the public.

"Today's actions demonstrate the Commission's determination to address short selling abuses while at the same time increasing public disclosure of short selling activities that affect our markets," said SEC Chairman Mary Schapiro.

First, the Commission made permanent an interim final temporary rule, Rule 204T, that seeks to reduce the potential for abusive "naked" short selling in the securities market. The new rule, Rule 204, requires broker-dealers to promptly purchase or borrow securities to deliver on a short sale. The temporary rule, approved by the SEC in the fall of 2008, was set to expire on July 31.


--------------------------------------------------------------------------------

Additional Materials
Rule 204: Amendments to Regulation SHO (Release No. 34-60388)

--------------------------------------------------------------------------------

Second, the Commission and its staff are working together with several self-regulatory organizations (SRO) to make short sale volume and transaction data available through the SRO Web sites. This effort will result in a substantial increase over the amount of information presently required by another temporary rule, known as Temporary 10a-3T. That rule, which will expire on August 1, applies only to certain institutional money managers and does not require public disclosure.

Apart from these measures, the Commission is continuing to actively consider proposals on a short sale price test and circuit breaker restrictions.

Third, the Commission intends to hold a public roundtable on September 30 to discuss securities lending, pre-borrowing, and possible additional short sale disclosures. The roundtable will consider, among other topics, the potential impact of a program requiring short sellers to pre-borrow their securities, possibly on a pilot basis, and adding a short sale indicator to the tapes to which transactions are reported for exchange-listed securities.

Overview
Short selling often can play an important role in the market for a variety of reasons, including contributing to efficient price discovery, mitigating market bubbles, increasing market liquidity, promoting capital formation, facilitating hedging and other risk management activities, and importantly, limiting upward market manipulations. There are, however, circumstances in which short selling can be used as a tool to manipulate the market.

"Naked" Short Sales: In a "naked" short sale the investor sells shares "short" without first having borrowed them. Such a transaction is permitted because there is no legal requirement that a short seller actually borrow the shares before effecting a short sale.

But, before effecting a short sale, Rule 204T requires that the broker-dealer, as opposed to the seller, "locate" an entity that the broker reasonably believes can deliver the shares within three days after the trade — what's known as T+3. Also, if reasonable, a broker-dealer may rely on a short seller's assurance that the short seller has located his or her own lender that can deliver shares in time for settlement.

"Fails-to-deliver": If an investor or its broker-dealer does not deliver shares by T+3, a "failure to deliver" occurs. Where an investor or its broker-dealer neither locates nor delivers shares, a "naked" short sale has occurred.

A "fail to deliver" can occur for legitimate reasons, such as mechanical errors or processing delays. Further, a "fail to deliver" could occur as a result of a long sale — that is the typical buy-sell transaction — as well as a short sale.

"Fails to deliver", such as fails resulting from potentially abusive "naked" short selling, may have a negative effect on shareholders, potentially depriving them of the benefits of ownership such as voting and lending. They also may create a misleading impression of the market for an issuer's securities.

Adopting Regulation SHO: Due to its concerns regarding persistent "fails to deliver" and potentially abusive "naked" short selling, the Commission adopted Regulation SHO, which became effective in early 2005. This regulation imposes, among other things, the requirement that broker-dealers locate a source of borrowable shares prior to selling short.

In addition, it requires that firms that clear and settle trades must purchase shares to close out these "fails to deliver" within a certain time frame, 13 days. This "close-out" requirement only applies to certain equity securities with large and persistent "fails to deliver," known as threshold securities.

The requirement included two major exceptions: the so-called "grandfather" and "options market maker" exceptions. Both of these exceptions provided that certain "fails to deliver" in threshold securities never had to be closed out. The Commission eliminated both exceptions in August 2007 and September 2008, respectively.

Making Permanent A Rule to Curtail Naked Short Selling
Adopting Rule 204: The Commission has made permanent a temporary rule that was approved in 2008 in response to continuing concerns regarding "fails to deliver" and potentially abusive "naked" short selling. In particular, temporary Rule 204T made it a violation of Regulation SHO and imposes penalties if a clearing firm:

does not purchase or borrow shares to close-out a "fail to deliver"
resulting from a short sale in any equity security
by no later than the beginning of trading on the day after the fail first occurs (T+4).
Cutting Down Failures to Deliver: An analysis conducted by the SEC's Office of Economic Analysis, which followed the adoption of the close-out requirement of Rule 204T and the elimination of the "options market maker" exception, showed the number of "fails" declined significantly.

For example, since the fall of 2008, fails to deliver in all equity securities has decreased by approximately 57 percent and the average daily number of threshold list securities has declined from a high of approximately 582 securities in July 2008 to 63 in March 2009.

Due to the success of these measures in furthering the Commission's goals of reducing fails to deliver and addressing potentially abusive "naked" short selling, the Commission has made permanent the requirements of Rule 204T with only limited modifications to address commenters' operational concerns.

Increasing Transparency Around Short Sales
In the fall of 2008, the Commission also adopted a short sale reporting interim rule, Rule 10a-3T. The rule requires certain market participants to provide short sale and short position information to the Commission.

The Commission made the rule temporary so that it could evaluate whether the benefits from the data justified the costs associated with the rule.

Instead of renewing the rule, the Commission and its staff, together with SROs, are working to substantially increase the public availability of short sale-related information through a series of other actions. These actions should provide a wealth of information to the Commission, other regulators, investors, analysts, academics, and the media.

Specifically, the Commission and its staff are working together with several SROs in the following areas:

Daily Publication of Short Sale Volume Information. It is expected in the next few weeks that the SROs will begin publishing on their Web sites the aggregate short selling volume in each individual equity security for that day.

Disclosure of Short Sale Transaction Information. It is expected in the next few weeks that the SROs will begin publishing on their Web sites on a one-month delayed basis information regarding individual short sale transactions in all exchange-listed equity securities.

Twice Monthly Disclosure of Fails Data. It is expected in the next few weeks that the Commission will enhance the publication on its Web site of fails to deliver data so that fails to deliver information is provided twice per month and for all equity securities, regardless of the fails level. For current fails to deliver information, see http://www.sec.gov/foia/docs/failsdata.htm.

Hosting a Roundtable
Finally, the Commission also is examining whether additional measures are needed to further enhance market quality and transparency, as well as address short selling abuses.

As part of its examination, the Commission intends to hold a public roundtable on Sept. 30, 2009, to solicit the views of investors, issuers, financial services firms, self-regulatory organizations and the academic community regarding a variety of trading and market related practices. The roundtable will focus on issues related to securities lending, pre-borrowing, and possible additional short sale disclosures.

The roundtable panelists will consider, among other things, additional means to foster transparency, such as adding a short sale indicator to the tapes to which transactions are reported for exchange-listed securities, and requiring public disclosure of individual large short positions. Panelists will also consider whether it would be appropriate to impose a pre-borrow or enhanced "locate" requirement on short sellers, potentially on a pilot basis. Additionally, panelists will discuss issues related to securities lending such as compensation arrangements, disclosure practices, and methods of collateral and cash-reinvestment.

# # #



http://www.sec.gov/news/press/2009/2009-172.htm

Here - http://www.sec.gov/news/press/2009/2009-172.htm

SEC Takes Steps to Curtail Abusive Short Sales and Increase Market Transparency
FOR IMMEDIATE RELEASE
2009-172
Washington, D.C., July 27, 2009 — The Securities and Exchange Commission today announced several actions that would protect against abusive short sales and make more short sale information available to the public.

"Today's actions demonstrate the Commission's determination to address short selling abuses while at the same time increasing public disclosure of short selling activities that affect our markets," said SEC Chairman Mary Schapiro.

First, the Commission made permanent an interim final temporary rule, Rule 204T, that seeks to reduce the potential for abusive "naked" short selling in the securities market. The new rule, Rule 204, requires broker-dealers to promptly purchase or borrow securities to deliver on a short sale. The temporary rule, approved by the SEC in the fall of 2008, was set to expire on July 31.


--------------------------------------------------------------------------------

Additional Materials
Rule 204: Amendments to Regulation SHO (Release No. 34-60388)

--------------------------------------------------------------------------------

Second, the Commission and its staff are working together with several self-regulatory organizations (SRO) to make short sale volume and transaction data available through the SRO Web sites. This effort will result in a substantial increase over the amount of information presently required by another temporary rule, known as Temporary 10a-3T. That rule, which will expire on August 1, applies only to certain institutional money managers and does not require public disclosure.

Apart from these measures, the Commission is continuing to actively consider proposals on a short sale price test and circuit breaker restrictions.

Third, the Commission intends to hold a public roundtable on September 30 to discuss securities lending, pre-borrowing, and possible additional short sale disclosures. The roundtable will consider, among other topics, the potential impact of a program requiring short sellers to pre-borrow their securities, possibly on a pilot basis, and adding a short sale indicator to the tapes to which transactions are reported for exchange-listed securities.

Overview
Short selling often can play an important role in the market for a variety of reasons, including contributing to efficient price discovery, mitigating market bubbles, increasing market liquidity, promoting capital formation, facilitating hedging and other risk management activities, and importantly, limiting upward market manipulations. There are, however, circumstances in which short selling can be used as a tool to manipulate the market.

"Naked" Short Sales: In a "naked" short sale the investor sells shares "short" without first having borrowed them. Such a transaction is permitted because there is no legal requirement that a short seller actually borrow the shares before effecting a short sale.

But, before effecting a short sale, Rule 204T requires that the broker-dealer, as opposed to the seller, "locate" an entity that the broker reasonably believes can deliver the shares within three days after the trade — what's known as T+3. Also, if reasonable, a broker-dealer may rely on a short seller's assurance that the short seller has located his or her own lender that can deliver shares in time for settlement.

"Fails-to-deliver": If an investor or its broker-dealer does not deliver shares by T+3, a "failure to deliver" occurs. Where an investor or its broker-dealer neither locates nor delivers shares, a "naked" short sale has occurred.

A "fail to deliver" can occur for legitimate reasons, such as mechanical errors or processing delays. Further, a "fail to deliver" could occur as a result of a long sale — that is the typical buy-sell transaction — as well as a short sale.

"Fails to deliver", such as fails resulting from potentially abusive "naked" short selling, may have a negative effect on shareholders, potentially depriving them of the benefits of ownership such as voting and lending. They also may create a misleading impression of the market for an issuer's securities.

Adopting Regulation SHO: Due to its concerns regarding persistent "fails to deliver" and potentially abusive "naked" short selling, the Commission adopted Regulation SHO, which became effective in early 2005. This regulation imposes, among other things, the requirement that broker-dealers locate a source of borrowable shares prior to selling short.

In addition, it requires that firms that clear and settle trades must purchase shares to close out these "fails to deliver" within a certain time frame, 13 days. This "close-out" requirement only applies to certain equity securities with large and persistent "fails to deliver," known as threshold securities.

The requirement included two major exceptions: the so-called "grandfather" and "options market maker" exceptions. Both of these exceptions provided that certain "fails to deliver" in threshold securities never had to be closed out. The Commission eliminated both exceptions in August 2007 and September 2008, respectively.

Making Permanent A Rule to Curtail Naked Short Selling
Adopting Rule 204: The Commission has made permanent a temporary rule that was approved in 2008 in response to continuing concerns regarding "fails to deliver" and potentially abusive "naked" short selling. In particular, temporary Rule 204T made it a violation of Regulation SHO and imposes penalties if a clearing firm:

does not purchase or borrow shares to close-out a "fail to deliver"
resulting from a short sale in any equity security
by no later than the beginning of trading on the day after the fail first occurs (T+4).
Cutting Down Failures to Deliver: An analysis conducted by the SEC's Office of Economic Analysis, which followed the adoption of the close-out requirement of Rule 204T and the elimination of the "options market maker" exception, showed the number of "fails" declined significantly.

For example, since the fall of 2008, fails to deliver in all equity securities has decreased by approximately 57 percent and the average daily number of threshold list securities has declined from a high of approximately 582 securities in July 2008 to 63 in March 2009.

Due to the success of these measures in furthering the Commission's goals of reducing fails to deliver and addressing potentially abusive "naked" short selling, the Commission has made permanent the requirements of Rule 204T with only limited modifications to address commenters' operational concerns.

Increasing Transparency Around Short Sales
In the fall of 2008, the Commission also adopted a short sale reporting interim rule, Rule 10a-3T. The rule requires certain market participants to provide short sale and short position information to the Commission.

The Commission made the rule temporary so that it could evaluate whether the benefits from the data justified the costs associated with the rule.

Instead of renewing the rule, the Commission and its staff, together with SROs, are working to substantially increase the public availability of short sale-related information through a series of other actions. These actions should provide a wealth of information to the Commission, other regulators, investors, analysts, academics, and the media.

Specifically, the Commission and its staff are working together with several SROs in the following areas:

Daily Publication of Short Sale Volume Information. It is expected in the next few weeks that the SROs will begin publishing on their Web sites the aggregate short selling volume in each individual equity security for that day.

Disclosure of Short Sale Transaction Information. It is expected in the next few weeks that the SROs will begin publishing on their Web sites on a one-month delayed basis information regarding individual short sale transactions in all exchange-listed equity securities.

Twice Monthly Disclosure of Fails Data. It is expected in the next few weeks that the Commission will enhance the publication on its Web site of fails to deliver data so that fails to deliver information is provided twice per month and for all equity securities, regardless of the fails level. For current fails to deliver information, see http://www.sec.gov/foia/docs/failsdata.htm.

Hosting a Roundtable
Finally, the Commission also is examining whether additional measures are needed to further enhance market quality and transparency, as well as address short selling abuses.

As part of its examination, the Commission intends to hold a public roundtable on Sept. 30, 2009, to solicit the views of investors, issuers, financial services firms, self-regulatory organizations and the academic community regarding a variety of trading and market related practices. The roundtable will focus on issues related to securities lending, pre-borrowing, and possible additional short sale disclosures.

The roundtable panelists will consider, among other things, additional means to foster transparency, such as adding a short sale indicator to the tapes to which transactions are reported for exchange-listed securities, and requiring public disclosure of individual large short positions. Panelists will also consider whether it would be appropriate to impose a pre-borrow or enhanced "locate" requirement on short sellers, potentially on a pilot basis. Additionally, panelists will discuss issues related to securities lending such as compensation arrangements, disclosure practices, and methods of collateral and cash-reinvestment.

# # #



http://www.sec.gov/news/press/2009/2009-172.htm

I don't know the exact nature of the communication details. The latest from Burns was posted here http://bcit-shareholders.forumotion.net/energy-source-talk-f4/latest-developments-t18.htm

You mean like this? http://www.globenewswire.com/newsroom/news.html?d=83109

Everyone.. who has contacted their brokers has been told they have good shares. lol, the trouble is that this aggregate number is still way more than the officially recognized number of shares.

The only way to sort it out is to let the stock trade and for those who sold shares to investors, to go out in the market to buy good shares. Yes, this may cause a rise in pps as demand for good shares increases (chuckle...) but that's what happens when the DTCC clears hundreds of millions of shares without ever having to deliver actual legal certs to back them up.

they made their bed, it's time they lied in it.

The information we have from Pacific Transfer at that time was - Official public float 1,097,632, Shares Outstanding - 4,890,000

The 300K number may have been shares that the company didn't have closely held, or know the whereabouts of...

Yes, as you can read in the settlement agreement http://www.let-bcit-trade.com/Files/BCIT%20Settlement%20Agreement.pdf the counterfeit shares were taken care of back in January 2006.

The DTCC is not releasing their global lock due to the hundreds of millions of FTD's they cleared over and above the original counterfeited shares.

Remember this traded over 2 billion shares before it was suspended back in 2005. http://www.let-bcit-trade.com/charts.html

http://www.dtc.org/impNtc/ope/ope_8418.pdf

we will see.

Make sure to bookmark http://www.let-bcit-trade.com and the forum there for specific information and updates

In exchange for a court order demanding delivery of good certificates from one's broker.

But as we all know this is water under the bridge.

the only issue now is the DTCC caving on their demand that Megas issue them certs for the remaining FTD's they cleared.

This has boiled down to nothing more than a mexican standoff of who has more juice to enforce their will. Up to now the DTCC has had the juice to withstand Megas' attorneys behind closed doors and relative anonymity.

Whether our efforts produce the desired result of BCIT trading remains to be seen, but at least Montal and the DTCC are no longer working their magic behind closed doors. We will see what happens with the Finance Committee investigation and the state AG complaints.

haven't counted them all yet, but a quick look down the list says CA, FL, NY and TX have the most shareholders.

I think people just started receiving them today. Will be glad to have you there.

They aren't "Allies". It's called traffic generation and improving your search engine results by increasing sites linking yours. The keywords "naked short", "DTCC", "FTD's" etc... are some of the common ones between our sites.

If you have a list handy of more "credible" websites who would be willing to do a link exchange with our website, I'd be happy to send their admins an email.

Of course, and I used the OCR'd list that you emailed me back then to do the mailing.(thanks for sending me that!)

They're anonymous in the sense of their online identities, and working together as a group via message boards and emails. Nobody signs up to our forum or email list with ANY personal information.

we aren't sitting in a boardroom hashing out strategies on how to move forward. We discuss things anonymously online, and act individually.

Well we are putting a group together as best we can.

We have the website http://www.let-bcit-trade.com and the internal discussion forum. accessible also at the direct link
http://bcit-shareholders.forumotion.net/forum.htm

The "group" already has 105 members who've signed up at the forum and the email list. Hopefully the postcard mailing will inform and motivate the 1000+ people it went out to, to log in and read up on things. The "creating a group" infrastructure has been in place for a while, and the group is growing.

It's now a matter of how to focus the efforts and direction of the group.

We've hit 16 attorney generals so far with consumer complaints with more in process. We've got Senator Grassley's office "investigating." We've emailed media, who don't respond, so perhaps PRs would be a better method.

I've contacted Byrne, Mitchell and bagley at Deep capture, TheSanitycheck.com, and thefaulkingtruth all to do link exchanges with our website and our efforts. They are considering.

I would be more than happy to accept the professional and knowledgeable resources that anyone here is willing to support financially.

Among others, I have a quote and standard consulting agreement from susanne Trimbath http://www.stpadvisors.com/aboutus.html for her services, but her standard retainer is $5000.

I have emailed Dr. Robert J. Shapiro of Sonecon http://www.sonecon.com/about.php to request a quote for services, however he hasn't responded. I expect his retainer to be much more than Dr. Trimbath's.

I have also sent all this information to Megas. Can't say I've heard if he's hired either of them.

We are a loosely alligned group with no legal organization, though we have considered going forward as a non-profit LLC under the "educational" exemption, but that has been tabled since about september.

The simple act of sending out a $460 postcard mailing to bring in the hundreds of shareholders who aren't on ihub or other messageboards was so successful I had to eat $260(thanks to those who did contribute..) of it just to get it done. Hopefully it was worth the effort and money to bring in some new blood.


Organizing a group of 1500 anonymous people who got sued by this company into an entity that will support "hiring" anyone is unfortunately a long way off, I'm afraid.

If you would like to volunteer to come onboard as the informal CFO of the group and take up the fundraising efforts to hire an expert, or a PR firm, we'd be glad to have you.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=39263268