I Can't take ANYMORE...People please read this.
One!! Number One!!First and foremost!!
YOU HAVE DONE NOTHING WRONG!!!
The reason behind this designed development (simple, condensed version)is for Megas to prove to the court that some of his shareholders are or are not holding some bogus shares of BCIT stock. He is not looking to punish anyone that may hold bad shares. If you purchased your share thru a Broker Dealer you didn't do anything wrong...They did.
I personally think Megas did this:
To call attention to the major flaws in the trading of otcbb and pink sheet stocks.There is so much corruption in this business that no one wants to take on the cleanup..More on this at a later time..
You have heard and felt for yourself, the lack of respect brokers give us Penny Traders..As 1 trader(alone) we have little to no voice when it comes to airing legitimate claims.
But as a traders the size of this group...Ears are perking up!! Just look at the difference in the attitudes of Aturde and Etrade since this Megasmania began. They tried to blow us off, but they can't...Why>> Because of the exposure, the suit they are faced with themselves and the soon to come media attention this will bring..You can bet that this is rocking many boats..
Our boats are not the ones that will rock..There will be many BIG names involved in this if it goes as designed.
Please believe there are many businesses that are working on their game plan daily to get thru this with as little notice and as cost effectivly as possible.
Heres How I see it going (and I do know a little about this)
When the court receives the necessary infomation to base a decision, they will either throw it out as frivolous (very doubtful) or they will look at the numbers...
I see it going as simply as this::
The Judge will say: HMMM.(I can see her face now) How can these shareholders be holding XXXXXXXXXXXXXXXXXXXXXXXXXXXX number of shares when there are only XXXXXXXXXXX leigitimate shares that are supposed to be on the open market as per BCIT's Filings.
If determined, the Judge will tell the MMs Brokerage house and DTC that they better come up with an idea of how they plan to correct this matter..And it BETTER be LEGIT!!
Please know, by this time there will be so many people watching this, that the BDs will be walking a fine line..
So What can be done?
At this time BCIT cannot be sold or transfered to Ameritrade or anyone thinking they could assume the bussiness and file bankruptcy...Too late for that..Megas could have done that to us, but not once this get inside the courtroom and a Judge has ruled..
So let's say there are records of 3 billion shares out..short, counterfiet and legit.(numbers are hypothetical as I haven't studied BCIT's O/S or filings)( I am a lines on a chart trader.I seldom know the company names of my trades. It's all lines and symbols to me)
There is a float of 1 billion (again, hypothetical)
This leaves 2 billion shares of BCIT that the big boys have to figure out how to get off the books.
Here is the part that most haven't thought of...
They cannot come up with 2 billion shares of BCIT to buy because there aren't any..So what are they going to do???
THEY WILL NEED TO GET RID OF SHAREHOLDERS AT THIS POINT...How will they do this??They buy mine, Jim's, Joe's, Shelly's,yada yada's shares from us (or anyone that wants to sell)
Their goal will be to drop enough shareholders that have record of 2 billion shares as quickly, as cheaply and as easily as they can. They will then sort thru and figure out what shares they have are legal and which are not..
This is the BDs problem..not ours..
This is where the short squeeze comes in...(yes a TRUE short squeeze)
They will HAVE to get sellers to sell their stock...whether it be good or bad shares..Remember they are not interested in the actual stock itself..they are only interested in numbers..The BDs will more than likely buy back more than they predict just to be safe and enter any extra legit share back into the market at a later time. The BDs will then go back to the court and show that they have made up difference as per her ruling.
The biggest problem for BCIT shareholders at this point will be figuring out when the BDs have received enough shares and how long we will hold out for a higher price.Please don't think for a second that there won't be several setups during this process..They will be doing all they can to get you to sell as cheaply as possible.So maybe think like this...Count to a hundred before you sell on a drop..It will more than likely be a head fake to cause a panic selloff. You can bet the MMs will not be trying to make a market on the ask side.
My feelings about sending the requested information.
What if the Court decides to rule that anyone that hasn't replied must knowingly be holding bogus shares and they rule to drop those names from the shareholder roster.After all it is a Court Summons.They could impose a penalty for not answering your summons and that penalty is a boot in the butt. This would be a shame. If my theory here is correct,it will damage the possibilties for everyone involved..
I hope this helps some to better understand the BIG picture.
In my opinion, if Megas wanted to hurt BCIT shareholders, he would have just written this shell off and let shareholders fend for themselves.
Please see this:::I am not an attorney..
If what I say sounds correct..Good..Glad to help..
If what I have said here is wrong...Sorry...
Regardless...Basher Beware..I will not be drawn into conversations with any of you.
I have simply tried to offer my opinion.
If anyone has a question about what I have posted you can PM me..I will do my best to answer,
And Yes...I hold BCIT in my portfolio.
Bob
AI
