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.
Could there be trading (behind our backs) between brokers?
My broker said that BCIT was a non-transferable issue (NTI) stock when I tried to request certs. Then I asked why they didn't have a segregated amount in my portfolio statement for BCIT, and they replied back that BCIT did show up in their system as "segregated bulk".
Does anyone know what NTI and segregated bulk means in plain english?
"The Company may also pledge customers’ securities as collateral for bank loans, securities loaned, or to satisfy margin deposit requirements of various clearing agents and exchanges. In the event the Company’s counterparty is unable to return the securities pledged, the Company might need to acquire
the securities at prevailing market prices."
http://www.rbcdain.com/DRP_1.0/media/103106_StatementOfFinancialCondition.pdf
hmmmmm....
How can WE trade our shares on the greys?
Interesting thought...
Could brokers be trading BCIT, broker to broker without having to show declared trading volume?
Why does it look like we are trading on pinksheets?
http://www.pinksheets.com/quote/chart.jsp?symbol=BCIT&duration=2-6-8-0-0-56
If you were the DTC, would you let BCIT trade or would you quietly settle by sending a big fat check to Megas?
Lovely...
I fraken hate getting ripped off...
I hate my broker, I hate the market...
I hate those who break the fraken rules...
Give me an honest game with rules and I'll play and win...
I'm having a bad day :(
Why is this board still full of hope? Is EVERYONE bent on loosing their money in this scam?
Look at your monthly portfolio account statements....if there is no segregated amount for your bcit shares....then they SHORT those shares.
"In the interest of protecting current shareholders who may unwittingly be holding illegally printed shares,
BCIT will be petitioning the NASD to enforce SEC rule 203(b)(3)
http://www.law.uc.edu/CCL/regSHO/rule203.html and effect a "buy-in" by the parties who originally sold
the invalid shares signed by Richard Carter and have effectively "failed to deliver" what they represented
as valid shares of BCIT."
I'm guessing Megas is trying to get the DTC to remove the freeze on the forced buy-in.
BKMPP forces brokers to report their FTD's...the 10000 to 1 force them to report EVERY single share.
They rejected my order to sell some BCIT:
Reason for Rejection
We were unable to process this order as trading on this security has been halted.
Market orders are not permitted for a stock that is halted.You can submit a Day order with a limit price for this security or wait until the halt is lifted and then submit your order.
HIHO..HIHO... how HIGH will our stock price go!
Are the cusip x200 the PRF or Common shares?
One thing that bothers me is.....
that way before we got halted, I asked my broker for Certs and they said that the share of BCIT were NTI - non transferable issue....does that mean no TA?
I'll write the book for "Bancorp~The Megas Story". All shareholders in this board will get a slice of the action!
He is a Greek Mason.
Keep your powder dry
Meaning
Be prepared and save your resources until they are needed.
Bingo...you nailed it.
Ummmmm....
I don't have time to comb through this crap....not worth the paper it is written on...
Can I exchange my bag of GLBT for Dibz stock?
The Best BCIT Megas PR would be.....
we win, you lose, pay me now
tm
5. Resale Status of Securities Received in a Transaction Exempt From Securities Act Registration Pursuant to Section 3(a)(10)
In the Division's view, holders must resell securities received in Section 3(a)(10)-exempt exchanges in the manner permitted by Securities Act Rule 145(c) and (d).31 These Rule 145(c) and (d) resale limitations apply only to holders that were affiliates of any party to the exchange at the time of the Section 3(a)(10)-exempt sale.
Generally, Rule 145(d) provides three appropriate methods for unregistered resales by these holders:
resales that meet all of the Rule 144 requirements, except for the holding period and notice filing requirements (Rule 145(d)(1));
resales by persons who are not affiliates of the issuer and have held the securities for at least one year from the date of the Section 3(a)(10)-exempt transaction without regard to Rule 144, except for the current public information requirement (Rule 145(d)(2)); and
resales by persons who are not, and for the last three months have not been, affiliates of the issuer and have held the securities for at least two years from the date of the Section 3(a)(10)-exempt transaction without regard to Rule 144 (Rule 145(d)(3)).
It is the Division's view that securities received in a Section 3(a)(10)-exempt transaction may be resold in the following manner:
1. Persons may resell their Section 3(a)(10) securities without regard to Rules 144 or 145(c) and (d) if they:
a) are not affiliates of any party to the transaction before the transaction;
and
b) are not affiliates of the issuer of the Section 3(a)(10) securities after the transaction.
2. Persons may resell their Section 3(a)(10) securities in the manner permitted by Rule 145(d)(1), (d)(2), or (d)(3) if they:
a) are affiliates of any party to the transaction before the transaction;
but
b) are not affiliates of the issuer of the Section 3(a)(10) securities after the transaction.32
3. Persons may resell their Section 3(a)(10) securities in the manner permitted by Rule 145(d)(1) if they:
a) are affiliates of any party to the transaction;
and
b) are affiliates of the issuer of the Section 3(a)(10) securities after the transaction.
The resale provisions of Rule 145(d)(2) or (d)(3) would not be available to this third group because Rule 145(d)(2) and Rule 145(d)(3) are not available to affiliates of the issuer of the Section 3(a)(10) securities.
--------------------------------------------------------------------------------
Man, I just want to nail the bad guys, make some money and get out of the sub penny arena.
FORM 10-QSB
3. LEGAL ACTONS
(a) On January 11, 2006, the presiding Judge in a Civil Litigation regarding fraudulent sales of common stock of the Company by unauthorized agents entered an Order Approving a binding Settlement Agreement (the “Order”). As a result of issuance of the Order the Company and some Defendants (the “Settling Defendants”) and the parties bringing suit were bound to the agreement with an effective date of December 8, 2005.
In accordance with the Settlement Agreement, the Company’s claims against the Settling Defendants and the claims of the Settling Defendants against the Company were resolved by the exchange of release of claims, a release of the wrongfully issued shares and payments to the Company in the aggregate sum of $171,546 from funds held by one of the Interveners and the further agreement to pay an additional $277,093. Furthermore, the claims of the Interveners against the Company were exchanged for the issuance of 25,025,000 shares of the Company’s common stock to one of the Interveners and 219,723,000 shares of the Company’s common stock to the other Intervener for an aggregate sum of 244,748,000 common stock shares (the “Newly Issued Shares”). The Newly Issued Shares are required to be deposited with DTC by the Interveners in satisfaction of their short positions with vendors through which securities purchase and sale transactions are cleared on behalf of the Interveners. The Newly Issued Shares were issued in accordance with the registration exemption afforded under Section 3(a)(10) of the Securities Act of 1933.
When I saw BCIT PR's referencing SEC regulations, I knew it wasn't for show. Booooring to read up on, but worth it. When those newly issued shares become non restricted....look out, because any broker who didn't participate in the cert exchange will be looking to buy REAL shares in the open market. My broker is short all of my shares and are not even trying to participate in the cert exchange...they want to buyin as soon as possible so that they can deliver my shares when I sell them at 88 cents.
Homework: Read this link :)
http://www.sec.gov/interps/legal/cfslb3r.htm
BCIT gave new shares to darbie to cover the short...these shares can't be traded until 1 year has passed due to Fairness regulations. 1 year is up, time to trade, imo.
Another hint: shares issued under registration exemption regulations, in general, have a restriction. In this case, the Fairness regulations are 1 year. darbie has now deposited the required unrestricted shares to the dtc. In other words, we should start trading shortly.
Jan 16th is the last day for cert exchange....Jan 11th is first day we may see trading imo....then 3 days later...we will see quoted bid & ask.
Hint: December 8, 2005 + 1 year
DTC are waiting for the "replaced" common shares to be eligible for trading...
In conjunction with the Civil Litigation, we reached an agreement with JH Darbie & Co., under which we delivered 25,025,000 common stock shares to JH Darbie & Co. to be held pending settlement or conclusion of the Civil Litigation. These shares were delivered to JH Darbie & Co. to satisfy the requirements of Depository Trust Company ("DTC") until common stock shares eligible to be resold without restriction could be delivered by JH Darbie & Co. to cover its short position in our common stock.
The 1 year mark has just passed for the "fairness" regulations(so that Megas can sell with the exchanged shares). I expect something to surface this coming week.
Don't ask....look up and read the regulation sections quoted in their last few PRs.
A small gift from me to youz longs.
Anyone here?