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Morning Chas,
Thank goodness that according to "some", it was probably neither knowingly nor materially fraudulent but just good ol boys n girls blindly following the $ signs!
Hogwash. IMO Overstock was massively oversold, far beyond its issued shares, nothing less than fabrication of shares by other than the company in the most blatantly corrupt knowing manner.
Their continuing to sell shares AFTER the official DTC lock of which they were obviously as a matter of legal rountine notified and therefore responsible for obeying, is a simplest blatant violation of a material and knowing nature.
Even without a windy explanation, it's at least fraud, and worse.
yeah, big oopsie, we paid no attention as we kept selling our nonexistent passel o' shares--
that nonsense wont stand & you know it
now THAT'S entertainment.
the slime twists in the wind, if any wind of justice penetrates this mess.
I'm sorry but there's simply no intelligent rebuttal to your statement.
Thanks camper, I'll ask them that specifically.
Hmm. They must be stashed in an ivory tower somewhere.
Time to call on Rapunzel?
Some cry,
"The Emperor has no shorts!'
but we will see the naked truth.
Somehow that last sentence dangles in the air like a Bill Clinton disclaimer...just sayin'
Appears the difference is, before they asked for purchase details but now they request actual statement or purchase detail copies, more solid evidence.
COMMENTS?
For your wry amusement here's Amerislop's response to my request for physical certs:
Dear Mr. (Especially Valued & Screwed Over Customer):
"Your information regarding the situation surrounding BCIT is incorrect.
TD Ameritrade is a self-clearing brokerage firm which utilizes Depository Trust & Clearing Corporation (DTCC) as our depository. Our clients¿ securities, specifically BCIT, are held there electronically in street name for the benefit of the rightful owner. TD Ameritrade is in compliance with regulations set forth by the regulatory agencies with respect to clearing trades, custody services, and record keeping.
BCIT is currently designated as globally locked by DTCC. When a security is globally locked by DTCC, the security is not available for delivery, transfer, or withdrawal; effectively all activity in the security ceases at DTCC. Regardless of when an investor purchased the security, the global lock affects all shares of BCIT held at DTCC.
As a result of the current DTCC designation, TD Ameritrade is unable to facilitate client requests for stock certificates of BCIT. Additionally, pursuant to SEC Rule 15c3-3, the circumstances surrounding BCIT have created a scenario that is beyond the scope of what is considered the normal course of business; thus further prohibiting TD Ameritrade from obtaining certificates.
I apologize for any frustration this situation has or may cause you in the future; however, there is nothing further TD Ameritrade can do or say concerning this situation. If you feel you must pursue this matter further, you may do so outside of TD Ameritrade.
Regards,
Albert Woolum
Apex Safekeeping and Restricted Stock, TDA
Division of TD Ameritrade, Inc."
ooops! you noticed that "flaw in the ointment"
Thanks cant,
Well, no names mentioned, and the person's recent apologist statements about how we shareholders ought to be happy with a simple broker refund of our money at best because we knew our investment was risky, is an accurate summary.
Patty-cake it is, then. Justice is in the slow act of prevailing regardlesss.
ARKAIT-- I understand the spirit of what you're saying.
If I'd gotten a note from anyone vs. just words on a board (and a private board I can't access for unknown reasons), I'd donate something to wherever it's supposed to go because I appreciate the effort.
Frankly before I could squeeze blood from the stone of my budget I was shocked by Megas' nonaction, allowing revocation without any comment.
How does he expect us to show enthusiasm for a cause he APPEARS to have abandoned?
The situation that inspired your statement:
I am sure if we were closer, Megas would help. But for shareholders who don't want to help themselves, what is there to say?
can also be restated as:
I am sure if Megas were to say something helpful, we shareholders would want to pitch in to help ourselves get much much closer.
But please PM me or tell everyone again where to donate.
FINAL NOTE: We were being encouraged with fiery democratic oratory to stand up for BCIT and speak to the Senate etc & not sit on our thumbs. Why now are we told our contacting the "authorities" to publicize BCIT's plight was harmful?
I don't get it. Also don't expect you to have all the answers.
Thanks for your help here.
IMB
I'm just a regular Joe, but I'd GUESS IMO only:
A- Anticipation will drive price higher.
B- Balaton & Visa were looking ahead to their next moves & had pieces in place to lobby for next bureaucratic approvals long before recent PR. SEE stockouse dot com board for more detailed info.
C- Price might take many sharp leaps up & half way back?, based on unproven past claims of shorting by MM's to be artfully covered or "worked off" like too many holiday feast pounds packed on the ol midsection.
D- You'l have a MUCH HAPPIER New Year if you discipline yourself to SELL INTO A RUN-- NEVER BUY into a run. Someday IMO this will really fly but don't waste a run by gnashing your teeth to bits by buying at a possible top & desperately trying to sell on the way down (3 day rule) (Been there/done that!)
As the Bond film sez: BUY ANOTHER DAY.
Last guess --at ATerd, ask often showed as .22 long before the announcement when price peaked at...22 cents. Lately it's @25 cents but who knows? I don't have L2.
Expect the price will/might drop mightily between news events surges. With Visa onboard I hope for much more frequent PRs-- another by GroundHog Day would be ground-breaking!
GLTY
whonose5
Monday's the annual board meeting. Anticipation...
Megas' PR slices like a
brutal
inexorable
laser
through the
tangled
criminal
bureaucratic
BS thrown at BCIT.
I am totally impressed with his PR.
And I appreciate his effort.
Where do I send my BCIT shareholders fund donation?
Thanks all longs for your efforts!
That's "a reasoned response"? Face it my friend, that's just an ATerd wet dream dried into pixels.
Because the only reasonable interest rate for our recompense that applies here is:
LOAN SHARK RATES, baby!
You do the math on 1,120% annual interest for our forced "loan" to the brokers etc.
Over 5 years what does that calculate to?
hee hee. haa haa. ho ho. ahoooohhooohhooohhooohhoooo. heh!
We're talking about a possibility of RICO laws being enforced here, and I aint talkin' about PUERTO.
The threat of applying RICO against the govt's GOLDEN CHILD-- wouldn't that be wild?
Yes.
Righto...exceptin' for starters, some multi-year rant of yours about:
ABSOLUTELY NO SUCH THING AS NAKED SHORTED SHARES ANYWHERE, YOU FOOLS!
lolololololololol
Hi OhBull,
Sorry, this statement by Megas seems completely unbelievable and/or out of touch:
"...(shareholders donating to ANOTHER legal fund) will encourage me somewhat to go on when i see others share the pain..."
A) What can an ADDITIONAL law firm do that his is legally-- or tactically? --constrained from doing?
B) If he wants more than a muted response from us, he's got to SPEAK UP. What's with the eternal emails-on-the-side-act? What tiny % of potential contributors do they reach, adequately inform, or persuade?
What could our legal beagles accomplish, with Megas' lack of vocal support or encouragement making Silent Calvin Coolidge look like a chatterbox by comparison?
C) "Share the pain"? Does he recognize we're the little investors who've had 100% of our cash "stolen" so far?
D) If there's been any real progress towards trading, why does he need to be encouraged somewhat to carry on?
Thanks for your tireless efforts OhBull. Response welcome.
whonose5
excellent letter. thanks. to be sent on the 14th i hope? don't delay.
Your sensible post proves even a blind squirrel can find his nuts. (sorry, had to say that at least once ha)
I agree with you--were Megas to take his note hastily written in 5 minutes, and polish it for another 5 minutes before letting fly--it'd prove far more effective. Expressing frustration is fine but...
Why be OVERTLY insulting?
We don't know the nature of his communications with much of the govt but this note hardly progresses our cause unless Burns psychologically submits to being a chastened, & therefore eager to reform, schoolboy.
Or maybe Burns will acknowledge the overriding virtue of the TRUTH behind Megas' patronizing bluster and prove himself the better man.
Myself, I am throwing prayer into the mix (here & elsewhere in life) on a regular basis. That is the mysterious element of power which can leaven the dull dough and move immoveable bureaucracies when all other roadblocks remain.
Regards.
?? I thought Megas would/will void agreement to that 1-for-200 reverse split crap deal. Why?
Because it's growing clear that since the times when DTCC imposed this IMHO criminally extortive requirement, its vulnerability to public criticism and legislative scrutiny is growing.
Since the DTCC could potentially grow even more powerful under Obama's financial markets takeover, they have to decide what decision regarding BCIT and other victims of naked shorting, least impedes their own ascent:
A) own up now & pay whatever price in the short term, or
B) dissemble, intimidate, refuse to obey the law until they are so powerful, a loud class action suit hopefully wont pass by their fat-arsed troll on the bridge.
Let's hope BCIT helps the horse to lose the nail in its shoe, that loses the war for DTCC ha
I agree Megas needs to somehow test the DTCC.
A reverse split would obliterate any profit potential for us, wouldn't it?
All IMHO, folks.
"...Therefore, the Company reiterates its request that the DTCC release its global lock on the Company's common stock for the following reasons: 1. The DTCC's release is a prerequisite to the Nasdaq Stock Market, Inc. and the FinancialIndustry Regulatory Authority (a) completing their remaining due diligence with respect to the Company's implementation of a
l-for-200 reverse stock split of its issued andoutstanding common stock, and (b) authorizing the trading of shares of the Company'scommon stock on the over-the-counter market..."
Let's Start Some Serious Global Warming With BCIT
Awaiting reply from DTCC regarding FGF, Forever Global Freeze,
lol. For every freeze there must be a source of heat and
dissolution. LOL
Truth: For Me, It's About The Money Too!
Plenty of white collar slimy cons figure they can kick back in their cushy cells a few years, dig up their stash when they get paroled.
But NOT HERE--NOT if we can help it.
MONEY = PART of justice.
Now Megas Has Tools To Pick Dat Global Lock!
Thank you gentlemen a million times for setting up a terrific site. Thanks for making the concerted effort to FIND THAT OPENING to make it possible for us to slip through the enemy's Slobovian DEFENSIVE LINE!
Super Bowl in a couple months if not sooner?!
Awaiting Megas' team's analysis of the options popping up in the coaches play book.
I did file a complaint with NYS AG Andrew Cuomo a couple weeks ago. Suggested they piggyback w/ other state as requested on free-bcit site. Cuomo'd relish the chance to throw the bloody guilty sharks to the...other, more innocent sharks LOL
For some reason, can't log onto the site though was sent the verification key to my email address so I'll stick with voicing my appreciation & encouragement here.
Thanks again gents!
To everybody:
Don't let the bustards getcha down!
I suggest barter. And what with the financial "crisis", should be able to get ads half price, since half the WSJ readership will be laid off or preferably, losing their golden parachutes as the ratz jump o'erboard the sinking ship.
Insanely easy to recognize common shareholders at the door: they'll be the blokes with blood in their eyes and smoke snorting from their nostrils.
They'll be the ones who trash the joint and reenact the War of 1812 on the pool table--in a decorous manner, of course--if the drinx aint freee or the "expert speaker" is condescending.
I can tell you. But if I tell you, I'd have to ... deputize you. LOL
you can proclaim your "newsflash" until your spittle covers the courtroom walls, but fak-tiz:
no SOL has commenced and it's WHOLLY irrelevant to the good/great outcome for BCIT shareholders of this long-winded drama.
but we know you already know this.
okay, back to my shady hammock hibernation...
let's go megas!
your big assumption here, proven false many times:
that judges are not amenable to the big picture, circumstances and behavioral record of the "players" affecting any contract.
we already know you understand LOL
as usual you are wrong, wrong, triple-wrong:
the stock last traded a "real" T+3 when? 2007?
in the blind-folded eyes of the impotent powers that be, that last valid 2007 trade validated the stock as of that date.
any SOL countdown ticker for a stock --(IF SOL did begin once) must reset and
--restart after the last concluded legit trade.
even our craven feds can't declare a stock worthy of legit trading--and penalize you for taking their word that it's not fraudulent.
imho
whonose5
PS I asked my cousin the SEC dude--he refused to directly answer my questions but suggested I interpret his blinking responses by the Morse code manual LOLO
So why don't you sell today, get your stock loss deduction, buy back after a month or two of QUIET relaxation? heh
You've predicted the share price will keep dropping; according to you, your cash would be worth many more shares.
I think i saw more listed, but again, if you both r right, i'm glad.
I think i saw a list of promoters referenced here in one of the past 20k posts that added up to $75K monthly; if wrong i'm glad!
Seems you're confusing the asking of a valid--and burning--question with "tearing down" an investment many intelligent people (plus investors like myself HA) share big lo$$es in.
Is it unpatriotic to voice the fact that you and thousands of others DO DESERVE some sign of consideration by the owner whom we've empowered with our money and our trust?
I think not--
And I close with hand over my heart, sayin "God bless the North Country."
whonose5
AP--Does Infinite Media's presence replace the $75K monthly + shares, dedicated to stock touts?
I hope so but don't know so.
whonose5
True, Tom doesn't owe crooked an explanation:
he owes ALL OF US an explanation!
Until that explanation, SWVC remains smoldering in its crater of uncertainty BECAUSE:
holders and potential buyers want and NEED to see evidence Tom is going to act on the common shareholders' BEHALF, not just build this company on their BACKS.
IMO totally rational concern.
whonose5