exactly durk,
4AM would be the open or after in London, and most likely when they would announce it.
They close at noon EST btw~
Five and half hours of sweating for shorty, before our open, lol!
I'm all for it~

sounds good to me durk,
that might cause a rather large gap UP at the open on that morning, to say the least, lol!
RCCH going to kick some shorts right in the wallet!

here's the proof:
charges against Pino,
http://www.sec.gov/litigation/complaints/2008/comp20466.pdf

And charges against Thompson,
http://www.sec.gov/litigation/admin/2008/33-8899.pdf

The SEC charged these two individuals that counterfeited shares of BCIT, it's right there in black and white.
Mr. Megas had nothing to do with what these individuals did, end of story, all he's done since is try to get his company back trading, with the DTCC holding up the company at every step of the way.
The short position on this stock is "patently obvious", I'd say north of 2 Billion shares going by what was legally in the OS at the time of trading, and that takes into account the shares that were issued to CG/Darbie in February of '06, (after trading was halted btw) which amounted to 246 million shares.
The reason this is being held up from trading is the cost to cover the short here, make no mistake about it.
Of course, those wonderful charges that the SEC released last February mentioned above, are NOT what the shorts wanted to see, lmao!
imo~

WRONG!
Fraudulent shares entered the market thru SACM, the counterfeit shares were supplied by Pino and Pammy, not BCIT!
Read the SEC charges!
Simple!

that would be just fine by me!
I want to see how this process works out and see how much this undervalued gem is really worth, pp$-wise ;)

I'm happy with my position,
so I sit at .0001 along with everybody else to see if these mm's will dig a deeper hole than what they are in, not raising my bid, don't need to~
If they want to fill it, be my guest, lol!

same here, no fill on my buy order
at .0001 that's been in for quite some time~

Kramrer,
looks like a good thing to me~
And I agree with durks assessment that it was done to secure control, and can be amended at a later date with a 'normal' sharecount.

Visibility,
prefered shares are usually exempt from any negative-type dividend, that's why they are 'prefered', they would have to be specifically targeted in an r/s to be split that way, and that almost never happens. They also get any good divi's first, being 'prefered' stockholders.
As far as the accredited investors, they bought 'restricted' common stock, so they would fall under any split just like the rest of us~

totally different scenario.
uplist is coming, the last thing the shorts would want or lobby for is a halt right now, they would have to cover on the new exchange at the uplisted price instead of having 3-10 days to cover on the way up. The stock is going to be delisted from the US exchange anyways, in effect halting altogether. So, would shorty rather pick their poison of covering on the way up or AFTER the pps is trading at audited book value or above?
It's a no-brainer, even for a short~

wouldn't that be something?
I'd like to see an AH pr, just so the shorts can think about it all weekend, lol~

NewbieAtThis,
it could be a combination of factors.
A competitor could be doing it along with the typical shorting that brokers and mm's do.
A hedge fund or two thrown into the mix would make sense also.
It has to be some entity(s) with big bucks that's for sure, and a vested interest in keeping the pps down.

ghcnj, per your pm,
yes, you would be correct in that scenario about RCCH if that is the case~

that sums it up ghcnj,
I just think the SEC has the say in the delisting date, so they may make the company wait for 3 days or up to ten, but you are right, it's coming regardless, and all the parties involved have to be on the same page.
Since this is a first as far as we can tell, there most likely will be precedent setting happenings, to say the least~

and to add to it bag8ger,
your thought process does have merit, but the shorters are still in trouble or they wouldn't be cellar boxing the stock and churning hundreds of millions of shares on news day.
Look at it this way, if 350 million shares are created by an mm and sold for .0001, then by the end of the day that same 350 million shares get bought back by them then they spent zero dollars to churn the stock. They probably got some shares by the flippers who bailed, so they got some shares for covering no doubt. They are far from getting what they need so they keep us at these levels, cellar boxed. They will capitulate when the official news is out and they get notified by the SEC and DTCC to clean up their mess, and they won't do it a minute sooner either.

bag8ger,
the problem arises with the final tally of actual shares out in our accounts compared to the actual OS.
The daily churning we see may very well get covered according to the charts, BUT, it doesn't cover the oversold shares that we bought and now hold in our accounts.
If all the shares sold as restricted for the aquisitions went to the aquirers, then how is it that the mm's sold us shares based on the OS at the time? Answer: they sold our brokers naked short shares, period. That's where this final accounting will come back to bite them. Our brokers who have clients like us with settled shares in our accounts will demand delivery from whichever mm filled the order, and the mm will demand delivery from whomever they bought the shares from. If they just added so-called liquidity with air shares then that's their problem to deliver good shares, period.
It will be a squeeze no doubt as they rush to find shares, just look at what ST is doing, won't even let their clients buy the stock but will let them sell it, so they as a broker filled orders with air shares, or else they wouldn't be pulling the no buy bs.
Brokers and mms fill orders with naked short shares all the time, this is one stock they shouldn't have, imo~

good morning ghcnj et al,
the way it works is the shorts(brokers/broker dealers/mm's) get notified with the 3 day (72 hour) timeframe to cover, and that's when we see the bulk of the panic to cover, then, if they still haven't covered they get notices after the third day giving them 3 more days and after the 6th day they get a notice giving them 4 more days to cover for a total of 10 days. Retail shorters don't get this timeframe, but brokers and mm's fall under different rules.
In the case of RCCH moving to an International Exchange the cutover date is the final day to get shares, so it could very well be your scenario of 3 days depending on how the notification is given out.
The biggest reason I say they might get the full ten days is the SEC and FINRA handle and set the delisting date too, if their broker and mm buddies are as short as we think they are, then they will protect them by giving them the typical ten days to cover, it wouldn't surprise me. Regardless, the first three days here we should see a very large move UP, to say the least!
Add in the new retail buyers wanting in for the uplist and shorty will have a hard time getting real shares to cover, especially since more shares are held than what are in the OS, the shorters are in deep and will have to pay our asking price, period.
There will be an official accounting of shares from the nobo/obo lists and it will be compared to the DTCC's list and until the tally jives with the official OS the short covering will continue. Of course, they may have only a few days so they will have to pay to get the shares they need, and they might pry a few out of durk for 70 bucks a share I heard~
I can't wait to see how much time is given between the cutover date and the acceptance pr from the exchange, this is a unique situation for sure, then we see just how much time shorty has to buy back the air shares they sold to all of us~
3 days would be just fine by me ;)

from the website:
International Wastewater Projects
Currently, IWS is working on potential projects in Africa, Mexico, the Caribbean, South America, Southeast Asia, Southern Asia and Canada. This international business, which is estimated at 10 times the U.S., business will be a major growth opportunity for RCC/IWS.

ya like those numbers hypehunter?! lol~
and the website also says the international biz potential is 10 times what the US biz is........things that make you go hmmmmmm!
;)

farmboynate,
it's just 'churning', done to shake out weekly held shares, and it doesn't always work, yesterday and today are good examples of it. I wonder if durk/dale and others with bigblock buy orders are getting any of those .0001's in any amount worth mentioning?

lmao MGMAN,
the only folks upset about todays RCCH pr are the flippers and those that don't hold shares, lol! Real longterm investors see it as more great news, period.
I didn't see any word that the uplist WASN'T going to happen ;)
tic toc shorty~

since you asked bag8ger,
they will continue to churn false volume hoping to get the longs that bought at .0001 to sell for a double, they are in deep and know it, so they do what they did yesterday.
Manipulating the pps is what they do daily here, once the cutover pr is out, then they got to cover before the cutover date, in the meantime, expect this cellar boxing bs to continue imo~

nice find JT~
they have over a billion OS too, lol!
And they are paying a dividend at the end of this month, what's not to like?
RCCH could do the same thing and more, we'll soon find out!

post of the day, thx mcokpba~
They could have 3 days to cover imo, or up to 10, it is unknown at this time but when the cutover is announced, the covering WILL happen~

;)

so in 2002 they had 25 million in assets
according to this filing.....wonder how much they have now?!?!
Audit should shed light on that for all to see~

nice, give that little birdy
an extra cup of seed, lol~
Those major assets are, IMO, part of the reason they were invited to uplist!
tic toc tic toc shorty, this one is going to leave a mark, lol!

good morning~
and here's a little excerpt that explains how there can be naked shorting of a stock like RCCH, without raising the SHO list redflag, now there are some here posting that say there isn't any short here but I disagree, the trading volume along with what is claimed to be owned show there is only one way for that to happen absent the company selling shares, which they aren't, and that is naked short selling. Shares get lent out multiple times, allowing us to buy phantom shares that have been artificially/illegally(imo) introduced into the system, durkdiggler has already posted about this previously. One thing about what RCCH is doing uplisting is it will force an accounting of all those naked shorts, and they WILL have to be covered, period. 2009 looking real good here ;)
Enjoy!



“…The stock borrow program can facilitate naked shorting in two ways. First, sellers can continue to fail to deliver because the NSCC can borrow the shares it needs to meet its clearing obligations through the stock borrow program. It does not have to force the seller who fails to deliver to buy in shares, nor does it have to go into the market to buy in the shares. It simply borrows them from another member firm to effect the buy-in. Since the NSCC covers the short position, the buyer of the stock also never has to buy them in. Second, the stock borrow program allows the shares to be recycled. Each stock loan gives rise to another stock futures contract. Any single share could actually be relent multiple times, giving rise to multiple futures contracts. Each futures contract credited to a broker-dealer’s sub-account at the DTC continues to be reported on the broker-dealer’s books as a share held either in its proprietary account or in a customer account. In either case, the account holder believes he owns a real share with all the rights attached to it. Consequently, the stock borrow program effectively creates additional unauthorized shares of the issuer’s stock. These undated stock futures contracts, which the financial press has referred to as phantom shares, inflate the amount of stock that is available for trading and also increase the amount of stock that is available for lending to short sellers…” The entire text is available for download at: http://papers.ssrn.com/abstract=687282.

thx hummer81,
after the new year we should be "golden"!
We're already holding, so bring on the uplist ;)

until this cuts over billion,
it will fall under SEC rules, after the move then they will have to comply with the new exchange rules.
As it stands now they are complying with the rules of the pink exchange.
When the cutover is announced, whether from the company or the new exchange, then the clock starts ticking for the shorts make no mistake about it, it is a finite timeframe, because when they cutover, that is it for trading on the us exchange, period.
Expect more of the slanderous/libelous posts from the shorts, they will get frantic before it's over, lol!

billion,
maybe we ought to start asking the question to the Compliance Department at our different brokers and compare what we get for answers, I'll try it tomorrow with one of my brokers, lol!

durk,
one common theme in all of their answers is there has to be some time after they are notified by the SEC and the DTCC. The broker reps I have pressed on this timeframe cannot give me a solid timeframe for some reason, and I've asked guys with Series 7 licenses down to the front line reps, you'd think somebody would have a grasp on such a scenario, lol.
My assumption of two weeks would fit in with how a fed margin call works when it is issued to brokers/broker dealers/mm's, they get more time than retail shorts when it comes to covering~
Their answers have ranged from the ridiculous: "this won't uplist" to the much firmer: "ah yeah....there has to be some time.....ah yeah...some time, yeah that's it, we need to be notified before the move...."
Honest to god, been told what I wrote above, and they wonder why I laugh at them!

you are correct durk~
several brokers have told me that there will have to be an announcement before uplisting/cutover, so I assume it will be ten business days like they normally get to buy-in their short position if they have one, but it could be more/less...........in this situation.
New ground here, really interested in seeing just how it works out, no other stock to compare it to~

hey mm107,
I been reading all the FUD here lately, just shaking my head and laughing at these clowns.
They are getting creative no doubt, must be getting close ;)
Oh, and been buying more too haha!
What if the AS gets reduced again like it did awhile ago?!?!
Bad days for shorty ahead regardless, imo!

that's right ghcnj,
there seems to be some stock market 101 confusion about this stock lately by a few, lol~
I defy anybody to cite an example of a company in the past that has done what RCCH is about to do.
r/m's don't count, and normal uplists from pink to otcbb don't count either.
Moving from the pinks to an International big board and leaving the us exchanges altogether puts the shorts in a "Comply or Die" situation when it comes to reconciling their short.
Especially since more shares are held tight than what is available in the OS, lol!

the opening pps is set by the
market maker(s) that has signed on to take the company public on the new exchange. If the mm decides that the Book Value of the stock as determined by the audit is a good place to open, then that's where it starts from.
:)

ain't that the truth, lol!
This one is fun to watch though, moves on air with such a low OS, and that cash divi just sweetens it up~

it just did, lol~
looked like a standoff on L2 earlier.
A break and close above 100 and it it goes to 120 within a few days imo~

zxc,
the simple explanation is BCIT has been changed to a number in your account, not a letter symbol.
Been that way for a long time in my account. Of course, you can believe the non-shareholders if you want, but your broker just assigned it a number since it isn't actively trading............yet ;)

mainuh's Christmas special for you guys!
Listen up, this one is a good one to buy and hold into January and beyond, imo:

RCCH
b x a is .0001 x .0002

Company is UPLISTING(not dual listing, big difference) to an International Exchange, best guess is either the LSE or the Hong Kong Exchange and leaving the US exhanges altogether because of the naked shorting.
No r/s either.
Last known OS was 340 Million before gag, gag was done for uplisting purposes.
The new exchange has yet to put out the pr that will tell us which exchange they are moving to. I expect that pr after the new year, possibly sooner but unlikely.
Stock was at .95 before the shorters stepped in and killed the pps.
Uplisting process has been ongoing since before the May 15, 2008 pr where they declared they were going to uplist.
Volume has been over the AS in trades, recently the AS was lowered, but best guesstimate of the OS will be from 340 million to 500-600 million after uplist, we still do not know, but all signs point to that share structure, imo.
Word is the company turned down offer from NYSE to uplist there, and you have to be worth 3$ to list there, so...........it could be a fantastic run when the cutover date is announced, which could come anyday now, pr's typically come out Wednesday at 10:00 AM EST, may not see a pr because of holidays. If so, expect one the first week of January hopefully with the cutover date.
Company is a pink, and there is only one way to leapfrog up to a big board exchange and that is to have the assets to make the move, apparently they do have what is required, as the audit has been submitted to the exchange for approval. We have yet to see the audit at this point, but should by the time they uplist or shortly afterwards imo.
There's a ton of DD on the ihub RCCH board ibox, please review it all.
Scottrade is not allowing buys of the stock, some other brokers are making you call in the buys, ST/NITE is short big time apparently, so they pull the no buy bs.
There should be a two week period before the move and cutover to the new exchange where the short has to be covered, and as of now, some shareholders collectively hold more than the last known OS, so the covering should propel the stock when the final tally is done and the books HAVE to be reconciled before the company leaves the US exchanges. Company is not selling shares either, and approximately 75% of the OS is restricted,(not sure of this number btw) and the restricted shares sold for 1.50 we have been told.
Check it out and do your DD~

Merry Christmas all!

yes~eom