Replies to post #89611 on Bancorp International Group Inc (fka BCIT)

[bobbybdb]

coinsguy/mainuh /others, I am running out of post today, so I will address all in this post,

First of all I have money invested in BCIT not brokers, (mainuh)I do however want to understand where the problem of this exchange is,I thought like you, that it was with brokers but now knowing that 205 certs have never been issued to the TA, that puts a whole new light on the situation.

Coinsguy if you read my many past post on the subject, you would know that yes indeed I know what so called air/phantom /ghost/fake/electronically generated shares are.


1. SEC will not let trading without initial shares being issued by the company, they must at least start with physical genuine company shares, so I said they would never trade without them.
Of course your air shares were generated from those original and probably compounded many times over, however we always have broker promissory notes in our street name accounts (IOU'S)

2. My point in that is, SO Was every other penny stock,NSS, YET THEY ARE TRADING, we are not,that would seem to not be the reason we are not trading, so what is?

Yes IOU'S are in our accounts, however they maintain the value of the PPs of the underlining shares and will be honored upon demand of sale at market value.
Not everyone will be selling at the same time so the IOU'S are removed by attrition and the market is geared to absorbed a normal transaction, fed calls may also be generated if needed.

We need to begin at step one in this cert exchange, that being issue from the company to the TA, then we can look at the brokers if they fail to comply with the TA'S instructions when there are actually certs available to exchange.

At this point I just don't see the brokers as the problem until 205 certs are issued, and in possession of the TA, if and when the brokers do not comply with TA instructions then the ball game will change, so far that has not happened.

That leaves the condition, of brokers hands being tied, until they receive instructions from the TA, that the TA is ready to exchange, he as not been to date, and all shareholders are blaming their brokers....All IMO.

[Huntewr7]

coinsguy, Good post. We have no ideal how many air shares they sold. Got most of my shares in Dec. of 2005 from Etrade. The people at Etrade that answer the post are clueless. We need to do something and your approach is logical.