no divi can be issued at this point....
for BCIT.
Those that think otherwise have no understanding of how such an instrument can be used.
First and foremost, the company would have to have the necessary cash set aside in a special account (escrowed), and that money would have to be derived from actual contracts or other services. You cannot just add money to a corporation and then issue a cash divi.
The last filings show zero profit so there is no cash available, period, therefore no cash divi is possible in any legal sense.
There would have to be an amount of cash equal to the payout based on 525 million current Outstanding.
No where is that amount of cash at BCIT's disposal.
Those saying a cash divi would force trading are connecting two dots on separate pieces of paper, to put it mildly.
One action cannot force the other, and in fact would stymie all hopes of trading at this point, as a short squeeze cannot be manufactured and that's just what would be happening.
Of course, covering of oversold shorted shares in the normal course of trading is completely legal, and is the ultimate goal here imo.
The stock needs clearing services and up to date filings, then the 203 could be issued and the mess would be cleaned up.
As I have commented before, since Mr. Megas is paying the bills he calls the shots, not peeps on a message board who want to spend his money like he has an endless supply, so we just need to see what he decides to do.
We got the delisting reprieve, now we wait for a legal resolution to this.
You can tell who's hit by who's hollerin'
AI
