Replies to post #122352 on Bancorp International Group Inc (fka BCIT)

[glaszman]

a trading halt is not the same as a suspension
LMAOOOOOOOOOOO. Ok, you are correct in the sense that a company can halt their trades pending news

actually? i am correct in the LEGAL sense.

you should not go around half cocked. there is a legal difference between a halt, which can be regulatory or non-regualtory, and a suspension, neither of two types of halts are the same as a suspension.

now the real question that you seem to be unable to clarify in your mind or anybody elses here is whether it's worthwhile to become regulatorily compliant with the SEC when the DTCC refuses to clear trades.

the DTCC has several hundred million hsares of stocks in it's books that NOBODY seems to be able to account for.

[mastaflash]

How could you get it so wrong?

We didn't have a halt? Of course we did, followed immediately by the global lock.

August 16, 2005, Depository Trust Company issues “Special Alert Regarding Bancorp International Group, Inc.” suspending all services effective August 11, 2005.

August 31, 2005 The SEC suspends trading of the Company’s common stock due to questions regarding the authenticity of securities and the accuracy of statements in press releases.

glasmman: stocks are also frequently traded on the grey sheets after the ten day suspension. this one could if the brokers weren't unwilling.

you: Not stocks under a lock due to counterfeit shares.

Of course they can, via ex-clearing...some trades did happen after suspension AND lock. In the OTC markets in particular, ex-clearing transaction occur much more frequently then people realize. The brokers choose not to...and if I was them, nor would I.

Ex-Clearing

Ex-Clearing is a manual comparison process that is performed by the brokerage firm’s Purchase and Sales Department when the traded security does not meet the eligibility standards of the designated clearing corp.

http://brokerage101.com/ssettle.html