You mean few involved in BCIT are trying to raise money??
The CH window closed YEARS ago! As long as people inquire to CH - CH is going to tell them you need money.
The brokers trading outside the dtcc was proven early on. To rectify this issue would be the correct path - think? Then value? Still waiting on that dividend?
Megas and Ferguson actually believed with each arbitration victory the price per share charged to the brokers would go up. Why am I thinking they believed they would be selling their 205 certs - not yours - at $5.00 per share by the end of the year?
???????? Oh so many
Update 11 April 2014
The first wave of FINRA cases are coming to an end. I regret to say that there is mounting evidence of bias by the arbitrators. That is not sour grapes at cases being denied, there is evidence that some have had direct contact with attorneys for the brokers, they have ignored evidence, failed to rule on motions, and overturned previous decisions which were in favour of claimants to the benefit of brokers without explanation. To be fair to the case administrators they are pretty fair and straight down the line.
But fear ye not BCITers we at CH are more dastardly, devious and tenacious then they realise and all they are doing is helping us fine tune the next wave of cases. The case of Fidelity having to deliver 940,000 shares is progressing and FINRA and Fidelity have been contacted officially by Tom Megas to say that there are shares available at $1.50 each
Remember the fact that cases are denied by FINRA does not mean they are lost. Our advice is that those whose cases that are denied should then file in small claims court. We have a tasty little filing for the court which is short and to the point.
I can also tell you that BCIT is now in very advanced negotiations with regards acquiring real estate in Europe. These deals are worth in the region of $14 million. The company is also actively pursuing several solar energy deals in the USA and this dovetails with a similar project in Bougainville. There are not going to be any major PRs or stuff like that as it is not publicly trading and there is no need for fuss and bother, but with the commercial assets BCIT will start to generate income and when that happens then there is a chance of dividends and all that.
I have had more people asking about rumours of a company making a play for BCIT. We have not heard of anything officially but we do know that one company has been checking out what we have been saying and have identified the considerable BCIT short position. There does appear to be something going on and I had a most odd call from a Chinese sounding gentleman the other day asking about how many cases were running and how many shares people were after etc. He said he was an attorney for a client who could not be named - I hope it is not Voldemort!
I can't tell you any more than that as nobody here or at BCIT has actually been approached, but watch this space.
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