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All I can say is CH has info now from all who are responding with brokers and is working on next step.
Etrade has responded and said that no refund will be forthcoming.
From: xxxxxxxxxxxx
Sent: 09/29/2011
Subject: Trading & Investing
Topic: Trade Settlement
Account: XXXX-xxxxx
Reference Number: xxxxxxxxxx
Message:
Dear xxxxxxxxx,
Thank you for your message regarding BANCORP INTERNATIONAL GROUP cusip 05968X106.
After reviewing the recent information for BCIT, it has been determined that E*TRADE will not be reversing any trades nor refunding any charges resulting from the referenced BCIT trades. This decision is supported by the Trading Provisions section of the E*TRADE Customer Agreement.
Please be advised that a DTC Global Lock is a temporary freeze of certain DTC transactions on a particular security. A DTC Global Lock should not be confused with a regulatory trading halt/suspension. DTC does not have the regulatory capacity to halt open market trading. Only trades executed during a formal trading halt/suspension would be subject to review.
All disputes involving BCIT should be directed to the appropriate regulatory authority.
Sincerely,
E*TRADE Customer Service
1-800-ETRADE-1 (1-800-387-2331)
E*TRADE Securities LLC.
see sticky post above or go thru customer service.
I went thru customer service and got to step recommended by ch to request request in writing their reason for claiming global lock in writing. Been waiting 2 days so far.first couple of emails got 24 hr turn around, now playing the waiting game. Next step, I may have to call the 800 number they sent if no response by tomorrow.
I disagree as the other bags have been banned in California. If other states follow, and they traditionally do, BGNN has the edge. Need to get the sales team to focus on California, not smaller states.
Trend will follow.
If anyone gets a certificate, they will be forged certificates, just like a birth certificate.
etrade is saying as long as a company has global lock, they will not do "any" transaction for that company until DTCC lifts the global lock. therefore, that means they will not issue certs even if they have them.
The intrigue now has to do with someone collecting the responses from the brokers and create an action plan for next step. Up till now, noone had any clue what to do except arbitration and we saw recently how that turned out, to imo, noone's surprise. The biggest surprise was FINRA planting a stake in the ground based on a date August 16th. And now Etrade offering a different opinion that no date is applicable, only that a global lock exists or they will provide certs.
Two differences of interpretation of global lock. So an official explanation should be provided by DTCC and with imo a specific remedy for the global lock to be removed, not a moving target for remedy.
The implication by Etrade is they will not conduct any business for a company with global lock. Thus the typical spin that the company is under global lock until DTCC releases the lock.
etrade already has stated to me they will not transact against a company that has a global lock, even on transactions that occurred before the global lock date. DTCC must remove global lock first. Key point, they did not say they would not provide certs.
One company, Etrade, has customer service personnel providing two distinct solutions/responses to the same request. One says they will get certs and the other says no because of global lock. You do not find that interesting?
we now have it in writing, with names, and CH working on it. enjoy the ride.
All part of the game they have been playing. This is why ohbull posted in ibox no fax or emails for etraders. See his note.
That is why this is getting very interesting
Interesting, my etrade customer service contact stated because BCIT was under global lock, they could not comply.
I do have the name of person responding.
They were part of
Team Lead - Risk Trading Team
E*TRADE Securities LLC.
This is already starting to get very interesting.
With response back from etrade stating that the global lock applies to all transactions pre and post August 16th, it appears that Etrade is taking the position that they will not respond to any requests for certs until the DTCC removes the global lock.
This differs from FINRA ruling, imo. You do not need to respond as to how you plan to address etrades response, or other brokers for that matter, but do you read their response to differ from the recent FINRA ruling?
ETRADE Response:
"A global lock applies to all transaction type & date until the lock has been released by DTC."
Note: A global lock applies to all transactions
The way I interpret this is this means to ETRADE all transactions even before the August 16th date as FINRA explained.
This seems to be contradictory of FINRA ruling.
I received the following message from etrade service center.
From: xxxxxxxxxx
Sent: 09/26/2011 05:17 PM
Subject: Trading & Investing
Topic: Trade Settlement
Account: XXXX-xxxxx
Reference Number: 9999999
Message:
Dear xxxxxxxx,
Thank you for your message regarding BCIT global lock.
Please be advised that, unless a DTC participant holds a security in physical certificate form with DTC, the security is frozen and globally locked from any activity at DTC as of the effective date of the lock. These transactions include, but not limited to, trade settlement, certificate requests, and asset transfers. A global lock applies to all transaction type & date until the lock has been released by DTC.
Sincerely,
Ms. Courtney Eberhart
1-800-ETRADE-1 (1-800-387-2331)
Team Lead - Risk Trading Team
E*TRADE Securities LLC.
That was before the light switch was turned on. This is a new journey. Relax and enjoy the ride. You are too tense. Loosen up!
IMO, this will be over by this time next year. I like how the new team is thinking. Of course I could be wrong, but now that light has been shown by FINRA and this has been published in media, the cock roaches are and will be scrambling.
This may be enough to get Senate Finance Committee to look into this with eyes fully open now.
I thought Snicker was a candy bar. At least it tastes better than what the SEC has left in our mouths so far, a bad taste of the free market system. Oh that's right, the market gets our money free for not delivering the services we thought we bought
When it is in their best interest.
This sounds like something Vegas may want to give odds on. They could clean up.
Bobby: My understanding is the DTCC has recorded transaction activity of all buys and sells and are required by law to keep for 7 years. I believe we need to act now as the clock is ticking. No delay.
DTCC knows exactly what happened and who was involved. The key is how to unlock the safe that will expose the trade activities.
Duke:
I initially used Etrade customer service. all emails are tracked.
I selected the following message request options:
1)Subject: Trading & Investing
2)Topic: Trade Settlement
Then copied in my request letter per CH and sent
I am expecting them to direct email to the proper department and notify me where they sent it.
I copied interaction email and sent to CH. Etrade provides a reference number assigned to message request and this was included to CH.
Plan is to copy all etrade reponses and send to CH with reference number.
Nice messaging service provided by Etrade
I understand not wanting to use customer service, but I have used them before and they were very responsive. don't need certified letter using this method as I said earlier, their own system tracks all interactions for you. No muss no fuss.
depends on timing when you buy and sell. always has been and always will be the case. nothing has changed except peoples patience tolerance level.
well said. to add:
"My people perish for lack of knowledge."
Huxley has stated his posse, like the Sheriff in Arizona with illegals and Obama's BC, has obtained more knowledge about this case and unfortunately cannot be revealed before its time.
I have had several interactions with Huxley's posse to date. While they have not disclosed information, they have provided feedback that has increased my confidence they are on the right track.
And one thing for certain, the truth will find you out ... in time
And time and the Creator of it are my friends. Who is yours?
sorry, you are wrong about why people bought BCIT. And if you are wrong about that, what else are you wrong about?
On April 6, 2011, the Board of Directors of the Company voted to move the Company's Headquarters to Houston, Texas. The new address for the Company is 5119 Ashley Ct., Houston, Texas 77024. The Company's telephone number is (866) 671-7571.
14-Apr-2011
Change in Directors or Principal Officers, Other Events, Fina
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
On April 4, 2011, the Company's Principal Officer resigned. Mr. Brent Brewer resigned his positions as President, Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer, Treasurer and Secretary of the Company to pursue other interests. The resignation of Mr. Brewer as the Principal Officer of the Company was effective as of April 4, 2011 upon the acceptance of Mr. John Montague ("Montague") to each of the Officer positions vacated by Mr. Brewer.
On April 4, 2011, Mr. Brent Brewer resigned as a Director and as the Chairman of the Board of the Company to pursue other interests. On April 4, 2011,the Board of Directors appointed Mr. Montague as a director of the Company to fill the vacancy created by the resignation of Mr. Brewer as a director. Mr. Montague's acceptance as a director is effective as of April 4, 2011.
On April 4, 2011 the Board of Directors elected and appointed Mr. Steven Byle, a current director of the Company, to the position of Chairman of the Board vacated by Mr. Brent Brewer.
On April 5, 2010, Virginia Cha resigned as a member of the Board of Directors. The Board has not filled the vacancy created by Ms. Cha's resignation.
On April 6, 2011, Mr. Montague entered into an Indemnification Agreement with the Company dated April 6, 2011 which is attached hereto as Exhibit 10.16.
http://www.otcmarkets.com/stock/AEEI/company-info
While that question is valid, another question is: do you have the time? As I have said many times on this board, if you do not have the time, BGNN is not a stock for you, nor any new wave product/company.
IMO, that goes ditto for you
martin:
the pattern typically was November and March. But there has been almost complete silence, ie. no communication with shareholders, for a year now. Atypical of this CEO. So we just sit and wait looks til November.
IMO, BCIT would not be included because the shares in question were never legally registered.
DTCC already has this information and IMO is one of the reasons why Megas is not talking.
go skiing?
Megas got his hand caught in the cookie jar with
Pino-behind-closed-door deal, which resulted in delay of notification to dtcc, which resulted in almost 2 billion bogus(ie non-registered) shares trading in market from May to September '05, and then Megas wants to cry foul on the dtcc, SEC and SFC. Megas really needs to take a long look in the mirror.
IMO, he dealt with the wrong devil. He needed to go to dtcc right away instead of making deal with Pino. Everyone, except Pino/Pammy, would be much better off today(6 years later) if Megas would have tried to do the right thing then. Instead, as he stated, he is more interested in making money. And when he agreed with Pino to sell BCIT for 2 million dollars, all he saw was the money then, and money is still all he is focused on.
Megas does not care about righting his wrong decision in 2005, then nor now!
Nothing has changed!
IMO, no external entity is holding BCIT hostage. It is obvious that Megas is the one holding BCIT hostage and he doesn't care. Making money is his only focus. Hey, I hope he makes a lot, but the real issue here is he can't take it with him when he passes on. Megas will have to answer to his creator.
It is not a matter of what you make, but what you do with what you make! The motto: Remember Bernie Maddoff! Justice and judgement will prevail in the end.
As Megas stated, his focus is not to right any wrong. This says it all, IMO. I read this stating that he does not care that he may have wronged the 'fake' shareholders, but also does not care about the original Indy shareholders either.
What a stand-up guy.
If he would have teamed with the 'fake' shareholders in the beginning, the estimated $750,000 that he spent could have been smaller. For example, how much of that was spent on suing the 'fake' shareholders.
Yes, the DTCC did not do their due diligence and solved that problem of the 250 million shares that entered the market thru their negligence. The issue is when the DTC discovered how he tried to swing a deal with Pino, that is when they recognized how much the delay of reporting the situation impacted the market condition of BCIT. Megas negligence that cause the delay of reporting to proper authorities resulted in over a billion shares to enter into the market by the end of Sept 2005. I hold the CEO responsible for the delay due to his greed and choosing to make a deal with Pino. As identified by his own admission of not focusing on righting any wrong, it is about the money.
I understand the difference in the US and Europe markets, but when a crime occurs, it pays to report it as soon as possible no matter which market you trade in. The CEO of BCIT, the one with fiduciary responsibility to the shareholders(in this case Indy), chose to ignore doing the right thing by reporting the crime to proper authorities for his own personal gain, thus causing many to suffer and now he has no intention of focusing on righting that wrong by choosing to blame others for his choice of filling his own pockets with whatever means possible whether legal or illegal. Two wrongs do not make a right.
I am glad we can agree to disagree agreeably. IMO, Megas has too many questions to answer in regards to the 1st two months of Megas and Sytner discovering Pino and Pammy activity. What is very plain to me is that he does not care about you or me, period. Thus the problem!
IMO, if he would have been more concerned about the 'fake' shareholders and included them in the pursuit of the DTC, I think this could have been resolved by now, because there is strength in numbers. But instead, he was thinking about himself and went it alone doing things his way and how he could get rich from Pino and Pammy. That greed allowed Pino more time to do great harm to BCIT and the 'fake' shareholders and the market.
Now he doesn't feel he has to answer to anyone, but someday he will have to answer to his maker. That torment alone maybe punishment enough for him.
One quote I will always remember is:
"It is easier for a camal to go thru the eye of a needle, than it is for a rich man to enter into heaven". Not judging, just quoting.
this is where SFC(ie. Grassley) could have helped, IMO. But Megas wankered him and any chance of restoring the 'legal' shareholders, that purchased shares thru the wall street brokers/bankers. As the brokers, DTC, SEC and whoever else is to provide oversight has abandoned their responsibility to the shareholders, thus leaving it in the lap of Megas. And Megas has abandoned, in his words, the 'fake' shareholders.
didn't Megas forget to do one little thing, like register the certificates in order to legally trade them?
I thought Mahoney rolled IVOI into BGNN. Could have misunderstood.