Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
DTCC show Empire Stock as the TA
I believe at some point, some brokers WILL buy shares to make good for their clients, and they will buy more on top of that...they will smell the $ soon enough. In some cases it will cost only a few hundred dollars to get it right...they just have to be shown the way...
Exactly right. Supply and demand, market forces, call it what you want, will do the rest.
NEW ETRADE STORY.
The DTCC imposed a global lock on BCIT shares following complaints by the SEC
Right oh!
It is not just about value in financial sense, it is about worth, commercial purpose and credibility.
This operation is not just about brokers and share certificates, it is about revitalising the company so that it has a commercial interest. It is about bringing a team together to harness the entrepreneurial skills that are available amongst you so that the company can move forward.
There are two or three shareholders among you that have worked tirelessly with us and Tom Megas over the last few months to get BCIT to a very good place.
BCIT is not dead, very far from it, BCIT is a live and ready to go.
In our opinion, BCIT will trade again.
CUSIP numbers are issued and administered by the Standard & Poors Global Cusip Services
Three important things to remember.
1.There is only ever one active cusip at any given time
2.The current active cusip for Bancorp is 05968X205
3. The cusip is nothing to do with FINRA, DTCC or the SEC and dont let any of the brokers tell you otherwise.
Well you know what to do. Get it in writing and then do something with it.
A fundamental issue for us was that BCIT should focus on the resumption of pursuing its commercial interests which will add value to BCIT.
That is in hand and progressing
Dont waste money suing an agency - Prosecute the individual.
There are a plethora of laws covering the conduct of people in public office.
Latest Classic From TDA
A physical certificate can not be obtained for BCIT.
05968X205 is an inactive Cusip and 05968X106 is under a Global Lock by the Depository Trust Company (DTCC).
There has been no activity with this company since 2006.
First line is a lie as we all know.
Second line about the inactive 205 cusip is also a lie.
As for 106 being under a global lock, well, we might forgive that even though it is not correct as technically all the shares became 205s when the cusip changed.
There has been no activity with this company since 2006. Hmmm
Its time to put on music, its time to dress up right....
There is no intention of wasting time and money going to court unless you really need to.
And just to be clear we dont need to.
UPDATE - 14 March 2012
The email was delayed going out because of various things going on but it will be going out over the course of today.
The PR is being drafted in conjunction with company attorneys and that will probably be go out on Friday, but that is in the hand of the PR company.
The few remaining 106 share will be returned to the company and replaced with new shares showing the company name Bancorp International and the correct cusip ending 205.
Our message to brokers remains this: Approach us and talk and we will try to help you achieve resolution.
Thank you Janice. In all fairness we can see why you would arrive at that figure, but you have to bear in mind that the shares that were issued following the OK court case amount to 245 million and that still does not cover it.
If there was not such an issue the brokers would just start using the correct cusip and deliver. They don't need this grief any more than the investors do. They wont do this because it is a bigger problem that 200 million. We will have to agree to disagree.
IF BCIT IS WORTHLESS STOCK WHY DONT THE BROKERS SIMPLY DELIVER.
What would JS put the number of naked shorts at?
SEC Revocation of Energy Source
SEC Administrative proceedings File No. 3-13638 state that they relate to: The Matter of Energy Source Inc.
The administrative proceedings document concludes:
ORDER
IT IS ORDERED THAT, pursuant section 12(j) Securities Exchange Act 1934, the registration of each class of registered securities of Energy Source Inc., is hereby REVOKED.
No matter how hard you try, those words Energy Source will not turn into Bancorp International Group Inc.
Not even an SEC email can do that.
Bancorp NEVER became Energy Source - fact.
The revocation order states that "ENERGY SOURCE is hereby revoked" -fact.
The revocation order does NOT say Bancorp International Group Inc - Fact
There is more than one way to skin a cat.
You know who signed the revocation, we have been over this before.
Thats not much older than you Janice :) and most people go before the Christmas holidays, he was not intending to go until Easter apparently.
The SEC to be fair do a lot of good work that goes without praise.
It is not necessarily corruption, in this case it is exceeding lawful authority, and and abuse of process that does not mean it is corrupt.
However the SEC have been given the opportunity to rectify their error and have refused to do so.
Funny the judge who revoked Energy Source suddenly retired first week into this year.
REVOCATION OF BCIT THE FACTS
November 3, 2009 SEC revoked Energy Source Inc. for being a delinquent filer in ADMINISTRATIVE PROCEEDING File No. 3-13638.
This was communicated to FINRA and OTC markets who informed SEC that there was no company called Energy Source.
November 6, 2009 An email is sent to FINRA and OTC Markets sating that the revocation order for Energy Source included Bancorp International cusip 05968X106.
In order to revoke a company there must be an order signed by an administrative judge.
An email does not count.
We know who sent the email and who gave the order to send it.
The SEC revoked BCIT by Email
SEC FILINGS
Despite submitting up to date filings twice, the SEC have not done anything with them.
They even refuse to answer the company attorneys.
Quick Update 11 March 2012
We have had a very full week which was flung into overdrive on Monday when a broker and a bank suddenly requested face to face meetings to discuss the evidence and how exposed they are.
We have also been preparing case files for investors arbitrations and forthcoming court hearings there will be more details in an email going out on Monday and Tuesday and a PR mid week.
Have a good week.
Why isn't the SEC trying to right their wrongs they did to BCIT & its shareholders?
A very good question.
We had a conference call with a senior SEC attorney a few weeks ago during which we laid out what the complaint of the company and the investors were and how it was felt the SEC could help and rectify things.
That call was followed the next day by a full written confirmation just so there was no misunderstanding.
The SEC leapt into action and did and said nothing.
Bad mannered individual didn't even acknowledge receipt - but we know she got it because we used the SEC secure internal mail service.
Then the lawyers wrote to the same SEC attorney and guess what?
Silence again.
It seems that the SEC has to resort to taking the fifth.
The only word for it is shameful.
With regards the question "Why aren't the brokers doing the right thing and delivering the BCIT shares they bought for their customers?" Some are trying but in some instances they dont understand and just wont believe the truth.
There are three brokers that appear to be trying to get to grips with this for their clients but just cannot quite get their.
One firm have been on to us three or four times trying to work out how to arrange delivery of over a million shares to their client. We have given them (and the investor) full written disclosure. The next thing three "managers" ring the client up and try to bullshit him. He fronted them out and then they say they XXX firm would ever be involved in anything dishonest or underhand.
With regards the review of how BCIT was treated by the regulators and administrative bodies our enquiries are almost complete.
The truth is very simple and straight forward and in fact the brief only runs to two pages.
With regards the activities of the brokers that is clear cut, but is made marginally more complicated by the number of victims.
The stops have been out since September but the time frame for some of the actions here on in are in the hands of other parties.
I am away from the office a lot of next week and we have got some new and rather perplexing information which we are going through.
No time for beer - well maybe there is time for just a couple of pints.
What exactly is an SEC Mole?
Don't be so coy Janice, You might call them a "contacts" or others might refer to them as "leaks".
You remember Janice, these are the people that apparently provided you with copies of SEC investigation into Thompson etc etc before they were released.
96 of cusip 106 certificates are pre 9/11.
As per the Transfer Agents documents.
No other documents count as JS and her team well know.
We nor the management of BCIT have anything to hide or fear.
Would we be kicking up such a stink if out clients had anything to hide?
Buck up and get real H.
DTCC state that some $16 billion worth of certificates disappeared in the collapse of the World Trade Center towers on 9/11.
There are currently a total of 111 older BCIT certificates which have the incorrect non active cusip number 05968X106 and the former company names.
96 of these certificates were issued prior to September 11, 2001. An audit of the holders of those certificates give reasonable grounds to believe that the majority cannot be found and are presumed lost or destroyed.
Those questions will eventually be addressed by the SEC.
In whose life time?
To be fair the SEC do do a lot of very good work that is not given the recognition it deserves (that's for you SY XXX)
But God knows when they get it wrong they get it SO wrong.
Their other problem is that they are so lawyered up that when they got offered a way out they are too dim or too conceited to take it.
Whilst touched by your concern for our welfare, we made it very clear that we were here for the duration.
Enjoy the ride over the next few weeks.
It was indeed a very interesting day which is why I am working today and which means next week is going to be busy busy busy.
BCIT has prepared filings for the SEC even though there is no legal requirement to do so.
What SEC does with them is their business drop them a line and ask them.
Yes and not by aCEEDEnt either.
Bob Greene WAS still there.
Bob was the genius who told Investors that DTCC had told him that BCIT was locked for not having a Transfer Agent.
He apparently also knew that the name change had not gone through prior to the revocation proceedings. So, if he knew then why didn't they know in Colarado?
Hey Janice why dont you run it by one of Your SEC moles in that office.
There is a document from SEC trying to correct their screw up.
We also have a witness statement from the person who received it and queried it.
It is with the lawyers