Dear ShorebyFive, Did you get the SEC guys name? We should keep records thusly, imho. And THANKS If you get any feedback from your congressman or even Obama, I shall send it to my state reps, to get them moving.
shorby, did you speak to this guy at SEC: I spoke with him back in Sept 2005 and got this follow-up email...he was worthless....
Dear Mr. WeebieSecHater:
Thank you for contacting our office regarding the problems you've experienced in attempting to sell your shares of Bancorp International Group (stock ticker symbol: BCIT).
We have asked Ameritrade to address your concerns in a written report and to provide a copy to you and us. It may take four to eight weeks to receive a reply. After reviewing the report, please let us know if you believe the report is misleading or does not address your concerns. Unless you contact us again after reviewing the report, we will not take any further action on your complaint
In the meantime, you should know that both federal and state securities laws provide important legal rights and remedies if you have suffered wrongdoing. Acting on your own, you may be able to resolve your complaint through the courts. Please do not view any steps that we may take as a substitute for taking legal action on your own: our efforts may not produce a satisfactory result, and by law we cannot act as your lawyer.
To take advantage of these laws, you must initiate legal action promptly or you will lose your legal rights to recover funds. These time restrictions, known as "statutes of limitations," vary by state, with some states allowing more time for investors to take action than others. The federal securities laws require that you must bring a court action within two years of the date when you should have reasonably discovered the wrongdoing, but in no case later than five years from the date the wrongdoing actually occurred. You may wish to consult a lawyer specializing in securities laws to determine how much time you may have to resolve your complaint through the courts.
Also, as you may be aware, on August 31, 2005, at 9:30 A.M., the SEC suspended trading of BCIT stock. You can read the full text of the trading suspension announcement on our website at: http://www.sec.gov/litigation/suspensions/34-52363.pdf. As noted in the announcement, the trading suspension terminates at 11:59 p.m. on September 14, 2005. However, you should be aware that because BCIT is quoted on the Pink Sheets (which is part of the over-the-counter or “OTC” market), trading does not automatically resume when the suspension ends. Instead, before any OTC stock can resume trading, SEC regulations require a broker-dealer to review information about the company. If a broker-dealer does not have confidence that a company's financial statements are current and accurate, especially in light of the questions raised by the SEC, then a broker-dealer may not publish a quote for the company's stock, and trading cannot resume. If you have additional general questions regarding the SEC's authority to suspend trading of a stock, I encourage you to visit our website at: http://www.sec.gov/answers/tradingsuspension.htm.
Once again, thanking you for contacting us.
Sincerely,
Rinell Randolph Attorney U.S. Securities and Exchange Commission Office of Investor Education and Assistance 100 F Street, NE Washington, DC 20549 Phone: 202-551-6321
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