Replies to post #18603 on Bancorp International Group Inc (fka BCIT)

[bob41]

Um Dusty, according to the records that the TA has:

Authorized: 25,000,000
Outstanding: 4,030,078
Restricted: 2,932,446

Her answer on that question is correct. Has she made other uninformed and incorrect comments? Yes. But not with her response to "bax".

The odds are that everyone posting and reading here do not have the old "MarchIndy" shares assigned to their account. And remember, according to Megas, those are the only valid certs. Also confirmed by the TA's earlier comments that 1) TA has not issued any new certs since 2001 2) There are no certs in the name of Cede & CO.

We own the "Mario" BCIT shares, which when a certificate exchange is announced will turn into non-existant shares (ie: short positions) on the books of the MM'rs. Hence the squeeze.

Megas is attempting to help? Yes he has said that and I believe him means it.

[fringe_remnant]

Thanks for that dusty.....

I was away walking my mom and her new knee.... catching up on a flurry of posts now....

Good to get that stuff off to Megas... cindy needs to crank iy up on the pro side a bit. She is also probably under a barrage right now.... if we are getting 265K reads here a day she is also getting whacked at her end.

The TA and Megas need to get their public relations act put together. A couple of poorly chosen words in this environment and its a major Whoops!

fringe

[bax]

Dusty, thinkmesh, pickspicks, newair, serfdom and others who have helped me understand what is going on....

I called a scottrade broker at my branch to ask a few more questions. Between that session and your most recent posts to me, I think I finally get it!

It seems as though, regardless of who is on record as a shareholder at the TA, there is no way to know who really bought the legit shares because most are probably held in "street" name. If I would have requested a stock certificate before the DTC put a "chill" on BCIT, I could have likely gotten a legit certificate. As far as Scottrade is concerned, I am a legal shareholder.

One other question I had before was regarding legitimate shareholders. Apparently, we all are and in the event of a recall and reissue, the only shares that won't be honored are the short positions held by the MM thieves that can't be covered.

Please let me know if I finally got it and make corrections. Thank you very much for educating me.

[serfdom]

TRANSFER AGENT PRIMER FOR NEWBIES:

I hear so many "Cindy says..."
Poor Cindy is either a secretary struggling to answer phones / people are not understanding her replies exactly / or people are not using the proper terminology with her.

I suspect a combination of all of the above.

A transfer agent deals in REAL CERTS ONLY. They never deal with electronically shorted shares or counterfeit shares. Those shares don't show up in their cert inventory, so from a transfer agent's point of view they simply don't exist. But from a BROKER's point of view, every one of those shares that we have in our accounts is treated as a "real" share -- meaning you paid for it. If it settles, you will be paid for it when you sell it.

I'll bet most of us actually have a few real shares in our accounts. So that would make you a shareholder of record -- even if it's just one share.

Stop stressing the little things, everyone. This is just Naked Shorting 101. Happens every day on hundreds of stocks, and it is not our responsibility to resolve the problem.