Megas needs assets to place in the shell to make this work. Everyone should know already that mining is a long drawn out endeavor taking years to grow and develop into a profitable company. Megas is mining ore people. Not cash you dig out of the ground. He is also in a hot spot on the map that is rich in wealth of natural resources, but small and few in those selected to obtain it.
BCIT may never trade again, but that doesn't stop Megas from paying out to himself in the name of his company. Few hold shares in the name of this company that can produce a valid entitlement produced and created solely by BCIT that BCIT would be required by law to pay on. Thats the key factor here.
We never trade again, but we're already locked in. If we do a 200-1 R/S as stated (but not completed) Megas pays out essentially only to himself since all original holders would be gone.
There would probably be less then 1.1 million valid shares left in the float of the 230 million issued in Oklahoma and still those have not been presented to the DTC to sell to our brokers to validate our positions.
So would we be cleared to trade by the DTC at that point or would Megas refuse to issue and sell to cover who was left at that point? It's really not Megas's problem unless he wants to sell his shares. But if Megas pays out in the name of BCIT we have an open shut case to collect. Megas can escalate the S/P having issued nothing by the burden of entitlement. It then becomes our brokers problem to jump our S/P so high we would sell and close out our positions. Megas already knows what he can add to the float by selling into the run without covering anyone who is short.
Molson, I'm not the only one tired of your whining, but I view my glass as half full and I have no other choice but to hold. Are you desiring to convince me to sell the second this opens? It appears that is also one of your goals. There will be no rewards to those who sell soon after opening.
Megas is going to put a demand on an entitlement thats owed our shares that will grow bigger from desperation every day we stand our ground.
This is where we separate the men from the boys.
It's when you're hardest hit you must never quit.
Always hold believing you're one second away from victory.
You can lose the battles, but still win the war.
I have faith this will turn in our favor soon.
