Replies to post #144471 on Bancorp International Group Inc (fka BCIT)

[agapespreader]

Brokerages have already "touched it" to the tune of 1.3 billion shares. Now, they need to go buy them from Energy Source.

[weebie]

A pile of nothing??

You are right the brokers sold us a pile of nothing!!

What did the brokers do with our money?

The brokers did not buy the shares and sold what did not exist!

Please explain this to all of us non-brokers.

[mastaflash]

I confess that is something I did not know about, which explains a lot. Although this...

The securities of these issuers generally became eligible for DTC services at the request of DTC's participants so that they could utilize DTC's services, including its book-entry transfer system. The securities are held by DTC in its nominee name for the benefit of its participants. DTC has stated that, in its opinion, these issuers have no legal or beneficial interest in the securities they are requesting to be withdrawn from DTC.

...seems to me to mean it applies to those certificates deposited by participants...not the company. Of course, there were no certificates to deposit, so, there goes that theory.