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It is getting hard to take this seriously anymore..... I do
believe Megas tried to get this trading several times, but
it doesn't look like the DTC is going to cooperate. All JMHO
All things considered, it looks more viable than
"energy source inc".
I've noticed that the professional analysts are wrong at least
half the time, so I figured my chances of guessing correctly, are slim to none.
Couldn't have said it better myself!
The initial reaction doesn't look like it hurt the USD.
What ever happened to that proxy vote?
IMHO if anything had changed, BCIT would be trading.
Sure is taking a long time to count those votes :o}
Good idea to start with a mini account. Whole different game
when you use real $$$$. JMHO
That would be surreal...LmAo. You would hope he would be kind
enough to let someone know if has given up on this.
That's the BS part of this...It's the 21st century. Everything
is time stamped, and logged. There is an electronic trail to
every single thing that happens. The idea that the SEC has to
go door to door, and dig through boxes in order to find out
what occurred is ridiculous. Isn't that the DTC's job, to
track and log the origin of all trades, shares, certs..etc?
If BCIT was cleared to trade, and Megas had a business to roll
out, couldn't he do that without timing it to the release of
filings?
Yeah...I wonder what ever happened to Energy Source Inc?
As of right now, it looks like 26 companies and their shareholders (27 if you include BCIT) pretty much got
thrown under the bus...so far!
IMHO the jury is still out, as far as who gets thrown under
the bus here...
No, gave up on trying to get details long ago. Just asked if there was any change in BCIT's situation, and he replied
"nope, still has the DTC global lock status...sorry".
Well FWIW talked to the ST rep this morning, and he said there
is still a "global lock" on BCIT. Guess there is still at least
one problem...
Letting shareholders know what's going on...What an unusual idea! LmAo
I doubt that brokerages cared one way or the other about nss,
prior to the SEC's disclosure about it. Now I'm sure they are
concerned about liability. Sounds like the SEC has insulated
them. IMHO
Looks like 10b-21 lumps the brokerages in with shareholders, as victims.
The Commission voted unanimously on March 4 to propose a new rule, Rule 10b-21, that would highlight the specific liability of parties who deceive others, such as broker-dealers and purchasers, about their intention or ability to deliver securities in time for settlement and that fail to deliver securities by settlement date.
Geez... Sounds like they are trying to differentiate between
"short" and "naked short". Probably use the distinction to
get out of the 203 buy-in rule.
I don't suppose Megas has had any comment on this, beyond his
initial surprised Email? tia
I figured the SEC released that because Pino was apprehended.
I'm hoping that's the reason.
I wonder if the DTCC will be "freezing" quite a bit in the
near future... The Global Lock should really come in handy
for them. IMHO
On the other hand, "cover ups" never really work. Eventually
things come out, and the backlash is usually much worse than
if the original problem was dealt with. IMHO
It's just your normal harmless short position. What's all the fuss about? LmAo
Problem now is, nobody even knows for sure why BCIT isn't trading yet. Is it the DTC, is it the SEC, or is it BCIT?
I'm guessing that's when the the DTCC steps in, and puts a
"global lock" on...LoL
"Now where it gets interesting is when the pps rises, the liability on the short rises, so the client must pony up more collateral or come up with the shares....so where do they get the shares?...Bingo."
Apparently nobody (including the SEC) tells the DTCC what they can or can't do. IMHO
I sure hope so... BCIT "Trivial Pursuit" has really gotten
pretty boring.
Does this SEC disclosure validate the DTCC "global lock", or will
it help to remove it?
You can't have it both ways......
Posted by: clarity789
In reply to: mastaflash who wrote msg# 101107 Date:2/18/2008 12:35:14 PM
Post #of 101122
Gosh that sounds so good... what value will Megas merge into BCIT?
As for your twisting that Megas did not want a short squeeze? Complete nonsense... and you know it!
Please re-read this PR from Megas - in it he requested exactly that from the NASD
http://investorshub.advfn.com/boards/read_msg.asp?message_id=7190334
---------------------------------------------------------------
Posted by: clarity789
In reply to: 2late who wrote msg# 100849 Date:2/13/2008 5:28:07 PM
Post #of 101121
Let me try and correct your false assertion that Megas wanted "A FORCED BUY IN to remove a HUGE short position."
Let me show you exactly what Megas said - when he said it - and in his own words... okay?
Here's the link to prove you are wrong - you might not like it, but it is FACTUAL
http://www.primenewswire.com/newsroom/news.html?d=83109
In that PR, Megas talked exclusively about the Carter shares signed by Richard Carter - and the "hundreds of millions of shares" that Carter released into the market
The counterfeits - signed by Thomas Megas - were NOT mentioned. Neither was a SHORT mentioned. Instead, Megas claimed they (the Carter shares) "failed to deliver" what they represented as valid shares of BCIT.
You keep twisting that to mean they were short - they were NOT short, and that is NOT why Megas requested a buy-in.
Megas has never claimed there was a "HUGH short position" as you claimed, and I don't think he would be happy that you are defending him with such nonsense.
Now please - read the PR and accept it for what it says. Especially the last paragraph.
When it comes to money, I'd prefer disclosure rather than trust. If the SEC/DTCC/NASDAQ have legitimate cause to
squelch Megas/BCIT there should be no reason why they can't
inform the public.
What happens if the folks that shorted it are long gone, or
can't afford to cover?
Are you being ignored because you are a gambler, or are you
a gambler because you are being ignored? They made the rules,
it's not like the penny market was dropped in their lap by a previous regulator.
"It is gamblers that the SEC ignores"
Are they referring to the DTCC?
"the individuals at the other brokerage firm whom sold the shares - obtained the shares illegally, that the selling firm would be liable for them, and that US clearinghouse that cleared the trade would usually guarantee our end of the transaction, meaning you should not be held accountable for any illicitly obtained shares that may have been sold in the market
I have to think an intelligent person would probably consult
any number of people in a situation like this one.
Stewart Sytner knows about this stuff.... I find it hard to believe this option was not pointed out (to Megas) early on.
"
I think it's possible he didn't realize that. He doesn't seem to know much about this stuff"
I don't get it...Megas says next to nothing, and he's a POS.
The SEC, and DTCC say absolutely nothing for 3 years and you
trust that they are looking out for your best interest.
Thanks for the responses! eom