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The Brokers that have naked shorted this stock will not be getting off Scott Free here. We are all still here to make sure that does not happen. CH has been brought in and Tom Megas has stayed with this and it is only going to get more uncomfortable for the Brokers that have naked shorted this stock. We have stayed the course and soon our day will come.
That is a simple solution. I also know where and how they can real certificate shares to cover the naked shorted shares they sold. Those real shares will come at price of course and that price will continue to be pushed up. It is simple though.
Get real. Hardly any investor knew about the global lock until after the halt. Of course the brokers should have know about it since you claim everyone should have known about it but they continued to trade the stock.
Yes and that should have definitely been a warning to the Brokers but they continued to sell shares. I doubt very much any normal investor was aware of the gobal lock until much later. The fact is the brokers sold shares they could not deliver before and after the global lock. The global lock has been one of the excuses used by the Brokers for not delivering the certs. Oh and yes they still claim there is no Transfer Agent as another excuse.
Yes and just think there are many people that bought shares even after the global lock. There was no DTCC involvement with those trades after the gobal lock. Brokers have been using the excuse of the global lock as one of the reason they cannot deliver the certificates. The fact is we bought shares on the open market and paid money for those shares...the money did not go to the company...the brokers received our money and they never had certificated shares for us to back up what they sold to us. Some
of us bought shares recently in private transactions and received shares through the Transfer Agent and now have certificated shares proving we do in fact own the stock. There is a transfer agent....Bancorp International Group is not bankrupt and the company continues to develop and work on a business plan and I would contend is not worthless. It would just be a shame for the Brokers and Market Makers if BCIT actually did show value at some point.
Yes indeed and if you find yourself in a fair fight...You did not plan properly and were not properly prepared. Both have been done here.
No one is going away. Just makes little sense to post here. Things are being done every single day.
One thing is for sure. BCIT is not going to go away. As shareholders we would love to see everything laid out on exactly what happened here. So many pieces of the puzzle have been undercover by CH.
It actually appears that some of the selling was ramped up a bit when the market makers figured they would be protected by the DTCC and the SEC. At least after the DTCC chill. I suppose they were counting on the fact that the SEC would halt trading which is exactly what they did.
Ok let's see as we examine the facts. An established Law Firm goes before the Court and Stipulates to the Court that they have had conferences with the Regulatory Authorities i.e. the SEC, DTC etc. and the Lawsuit was the suggested course to take in order to extinguish any and all fraudulent shares. So the Law Firm puts this on the record before the Court as the explanation of the Shareholder Lawsuit. But your explanation is that TM is over in Europe and wakes up one day and thinks to himself maybe just for the fun of it I will sue all the shareholders. Yes I can see how your explanation is so much more plausible. Not extreme in the least. This is just one example of why I find you so irrelevant.
Yes and I only used the actual Stipulations that are in the court record. Not playing the Shell game.
Once again, like I said over and over again no matter how anyone wants to try to spin this there appears to be a huge naked short out there. Many of us have shares in brokerage accounts for which there are no certificates. BCIT covered the counterfeit shares but I guess that did stop some market makers from continuing to naked short BCIT.
That is why they were to be freely trading and at the time the court order went into effect accepting the settlement a new cusip was issued. Either way the settlement was worked out so the shares at least to JH Darbie were acceptable to the DTC. It is right there in the settlement agreeement. NF Clearing/JH Darbie needed those shares acceptable to the DTC to satisfy their open short position. That is what their attorney had in the settlement agreement. That settlement Agreement was signed in December 2005 and the Court Order Approving the Settlement Agreement was signed by the Judge on January 6, 2006. It was officially logged into the Court on January 11, 2006.
Everyone can reflect on what happened here.
BCIT had about 4M total shares when Mario Pino, individually and through various affiliated entities and co-conspirators issued 235,000,000 counterfeit shares in 20 certificates. These Wrongfully Issued Shares were then distributed to various individuals and entities who held brokerage accounts at Capital Growth Financial, LLC and/or JH Darbie & Co.
BCIT sued Pino and various Defendants. JH Darbie & Co. and Capital Growth Financial, LLC intervened in the lawsuit. JH Darbie & Co. alleged that it accepted the certificates from the Defendants in good faith and did not know at the time that these certificates were counterfeit. JH Darbie & Co. delivered the Counterfeit certificates to its clearing broker, NF Clearing for sale. JH Darbie & Co, alleged that NF Clearing delivered the certificates to the DTC which delivered them to BCIT's transfer agent for re-registration. Once the DTC was advised by BCIT that counterfeit shares were issued the DTC suspended all services with respect to BCIT shares other than custody. The DTC demanded replacement certificates from NF Clearing.
JH Darbie & Co. attempted to purchase replacement certificates in the open market and tried to buy 6,668,500 shares for which it paid $118,297.59. JH Darbie & Co alleges that it never received those shares because the market was flooded with counterfeit shares and there were no valid shares available to purchase.
Pursuant to this lawsuit and in Settlement of the lawsuit “New Shares” were issued by BCIT to JH Darbie & Co and Capital Growth Financial LLC. There were 25,025,000 shares issued to JH Darbie & Co and 219,723,000 shares were issued to Capital Growth Financial, LLC that constituted the New Shares.
In the settlement agreement with respect to the 25,025,000 shares that BCIT issued to JH Darbies & Co, BCIT took the steps as were reasonably necessary and appropriate to ensure that such New Shares, among other things, were:
a) Reasonably acceptable to the DTC for deposit therein in satisfaction of NF Clearing/JH Darbie’s open short position; and
b) Reasonably acceptable to NF Clearing in satisfaction of JH Darbie & Co’s obligation for the 25,025,000 shares.
The New Shares were not restricted shares i.e. freely tradable without legal or equitable restriction and without adverse claim under UCC article 8.
With respect to the 25,025,000 shares that BCIT issued to JH Darbie & Co, BCIT would not seek to instruct its transfer agent to impose any stops or stop transfer orders on these New Shares or on any shares that flow therefrom and BCIT would not assert any adverse claim against such new shares.
So the counterfeit shares were resolved by BCIT issuing shares to take care of what was cleared and sold in the open market. BCIT received payment for those shares which amounted to what the Capital Growth Financial and JH Darbie & Co. received when they sold those shares into the market. Still after all those counterfeit shares were covered we still have a tremendous short. The New Shares were supposed to have the 205 cusip since that would distinguish them from the counterfeit shares that were put into the market.
The New Shares as defined in the Settlement Agreement were deemed to be exempt from registration under Section 3(a)(10) of the Securities Act of 1933 and exempt from registration in the State of Nevada pursuant to Nev. Rev. Stat. Section 90.530(10) or (11).
If I was a broker I would be demanding JH Darbie & Co and Capital Growth Financial explain what happened to those certificated shares. No matter which way you spin it there appears to be a huge short here.
A lot of shares were sold and a lot of money was spent buying those shares. The money did not go to the company or to Tom Megas or anyone else in the company. So someone made money here and never delivered what they sold. It is as simple as that.
It is amazing when you break this down to its simple components. The shareholders bought shares. We paid for those shares through our brokers. The money did not go Bancorp International Group, Inc or to Tom Megas or anyone associated with Bancorp International Group, Inc. We paid for those shares but the Brokers have refused to deliver those certificated shares to us. We as shareholders are trying to get what we paid for and the company has gone to great lengths and great expenses to make sure we get what we paid for yet some posting on here seem to have a big problem with our efforts and concerns.
Just one OBO shareholder reporting accounts for over 1/3 of the entire OBO shares. That is pretty amazing.
Perhaps your presence here has only served to solidify a lot of shareholder as you throw out your spin. Most are here to resolve this issue and see that justice is done. That is not want you want to see happen here. I want to see everyone here get their shares they bought....plan and simple.
Broadridge printed that letters and was ready to send out the letters and would have sent the letter but the brokers objected to it. There is absolutely no big surprise there on the part of the Brokers. Not playing the Shell game here.
Here is an end result for you. A lot of people here paid money for shares that the Brokers will not deliver to them. Most shareholders have been fighting to get the shares they are entitled to and shares they should have receeived. The company has been spending a lot of money and time to acheive that desired result and somehow that really bothers you. You have been so irrelevant in this matter anyway and soon you will become absolutely totally irrelevant.
No you are wrong but you do your normal spin. Broadridge reviewed the letter and was going to send it out but since the people getting the letter have shares in street name they have to get the approval of the brokers. The brokers objected to sending out the letter. Broadridge advised that the company can send them out since Broadridge already printed all the copies for BCIT. Good spin though. Is it time to bring up the shareholder lawsuit again you usually take delight in that spin.
TM and CH are more involved than ever right now. Also Catherine Mead is the resident Agent in Nevada. Her office is also helping in this matter. It is unbelievable how people get bent out of shape over nothing. If you sent in your information before that is great don't worry about it. Let the brokers that are short do the worrying. The more evidence that is uncovered the better.
Then keep bugging your broker for your certs. It is better to be proactive instead of complaining here. I think everyone should make sure their brokers will assure them in writing that the shares they are showing in their accounts are legitimate shares.
Tom Megas is not trying to drive off in the bus without you so why do you even make that ridiculous comment. You should be mad at the brokers that cannot or will not provide you with the stock certificates for the shares you bought. You have to understand the company did not sell you the shares you bought. The company did not get the money for the shares you bought. The shares certificates particularly the 205 share certificates are your ticket on the bus. The transfer agent will gladly exchange any 106 certificates for the 205 certificates. The only problem is the brokers cannot even get the 106 certificates because they sold many shares that never existed but they will have to deal with that problem. Just remember, Tom Megas is not leaving any legitimate shareholder behind. Vent your anger and your frustration at those that sold you the shares if they cannot provide you with the share certificate to prove you are a legitimate owner of the security.
Yes.. Nothing to see here folks. Just keep moving. LOL
Yes I guess one could say the cat is out of the bag except in this case it is raging tiger.
There are so many wonderful reasons.
I also have faith in Thomas Megas. I know you have done your part as a shareholder to continue to fight for justice here.
I like the fact that there are many bashers and even a few whining complaining shareholders that have no idea what is going on. In fact I love it. Soon I am sure we can all connect the dots. But for now the bashers and even whining shareholders want to put TM is the same category as most other pink sheet CEOs and that is a huge mistake. TM has been here for years now, spending a great deal of time and money on trying to resolve this situation we have been stuck in for nearly 7 years. His latest endeavor on BCIT of course was hiring CH and CH did a great deal of investigation into this matter. CH continues to lead the charge with TM to resolve this situation. We continue to grind away. Do not think for one second TM did not continue on with a business plan on many other matters.
Every shareholder should at least be happy that Thomas Megas never left us and never abandoned BCIT because all the other CEOs would have been gone a long time ago. Many other CEOs of pink sheets companies when their company is trading they would have been diluting the company and taking the money. That is they way it happens many times in Pink Sheet penny land but that did not happen here. The money from the sale of all these naked shorted shares never went to the company and they certainly never went to Thomas Megas. Instead Thomas Megas poured a great deal of money and time into this matter to get it resolved for the benefit of all of us shareholders but still some shareholders want to complain and whine about what is in it for them. Bashers have their agenda......we all know that..... but I get a little sick of the whining complaining shareholders too. If you want to do something productive then band together and demand the certificates and continue the fight for justice here.
This is absolutely unbelievable. I guess now we can around in circles for weeks talking about whether Thomas Megas went to the Wharton School of Business and got his MBA. Yes he did. In fact he was going to go to Harvard but his Professor at the University in London advised him to go to the University of Pennsylvania Wharton School of Business for his MBA so that is what he did. But of course now all the bashers and doom and gloomers here are going to try to say the Wharton School of Business at the University of Pennsylvania is not that great. You are wrong. It is a great ivy league business school.
You are making a big assumption there. The assumption being she has a heart. LOL
Let us not forget that the law firm in Ok stated to the Court that the lawsuit was filed at the directive of the regulatory authorities to extinquish any fraudulent shares in the market. That fact of course messes up your spin you have been doing on that shareholder lawsuit for years. Oh that is right I forgot I guess TM just woke up one day in Europe and decided just for the heck of it that a lawsuit against everyone holding shares might be fun. Give it a rest Ms. Shell we have been through this so many times already and your spin is pathetic.
I hear the train ah coming.
Yes and we all know that when something is stolen from you and you are a victim of a crime I guess most of the blame for the crime committed falls on the victim. Unbelievable spin. Plus you have to consider here all the shareholders of BCIT were victims of this crime but that should not have any effect on your ridiculous spin. Pino and Thompson were just doing what any criminal would do so shame on us for owning shares in a company they decided to defraud not to mention the Market Makers that decided to naked short this company. I guess all of us shareholders should be so ashamed. How utterly ridiculous.
This certainly is not going away. Many of the shareholders have been doing their part so we can really get a handle on just how big the naked short is here. Naked shorters love scams because it is the best situation for them to naked short with complete impunity. BCIT never was a scam and the only scammers were Pino and Thompson. It is my opinion that many naked shorters figured this is one they could naked short with complete impunity but BCIT never went away and now they will be left to deal with it. This could hit them like a run away freight train.
There will be a Game Changer. So much effort has been undertaken here. It certainly was not done without having something in mind. At some point we should have a final phase I would imagine. This entire board could go silent but then I am sure many would be complaining and saying nothing is going on.
You mean to tell me you really do not know how those names and addresses are accessible? Unbelievable
Their names were on the OBO list and not available to the company hence they were not included in the Lawsuit that was my point. There may be others that were not accessible for other reasons too.......Oh no I am getting sucked into the Shell game again. I do not know which shell the pea is under. Absolutely unbelievable.
The shareholder lawsuit list of names and addresses must have come from the NOBO list. That list provides the names and addresses of the Shareholders and even the number of shares they hold. If there is an IRA it will also provide the Custodian of that account and even indicate if the account is to be transferred on death and that person's name as well. Those that were not included in that lawsuit were mostly likely on the OBO list. CH did accumulate a lot of information from shareholders providing statements and listing or showing the brokerage firm where they are holding those shares. As I said many times before at some point we should be able to boil the number down. Either way no matter what there appears to be a lot of shareholders with shares in their brokerage accounts that do not have certificated shares to back them up and that is the problem. That has always been the problem and the issue.
There is a time and place for everything. I have confidence, trust and faith in Thomas Megas. I am convinced he is a very genuine, loyal and good person and he has never quit fighting for all the shareholders in BCIT. Bringing CH into this situation is proof that the fight goes on. No one is certain how big the short is but we should be able to boil it down to get a pretty good indication of that number. One thing seems pretty apparent.... that there are very few certificated shares to back up all the shares that everyone is showing in their brokerage accounts. We shall see what happens but you have to believe there is a plan.
Alan, I concur with your post. Brick by Brick the evidence has been assembled and the truth uncovered. We march onward.
It must have all been an April Fools joke. We all know that CEDE AND COMPANY only have 645,000 shares. Not nearly enough to provide certificates for the shareholders. Not nearly enough by such a very very very very very very large margin.