Replies to post #18638 on Bancorp International Group Inc (fka BCIT)

[XV19]

I bought my GVRP shares in good faith too :) See where THAT got me...

And my BLII/PGWC..I bought them..they R/S'd them..They gave them back, I sold them, they said 'oops..we shouldn't have given them back'...see previous post of mine about getting a forced short.

[stocktoastcrunch]

since almost everyone if not everyone here bought the 'fraudulent' shares (not the MarchIndy shares) - what exactly does it mean for the broker to make those shares 'good' -

and can someone tell me exactly what the sequence is for a typical share buy?

is this the correct sequence more or less:

A retail person like myself uses an online broker to buy shares of a given company and places an order with their broker. the brokerage buys a sum of shares from a market maker. the market maker then delivers those shares electronically to the DTC, and then the DTC sees that the trade is settled within 3 biz days; then the DTC delivers those shares to your broker and your broker settles that trade in your retail account. You then become a true shareholder of record. At least electronically.
Is that about correct? The DTC is supposed to ensure that the shares really actually change hands - not just as an electronic bookkeeping change.
trying to iron out how all this officially works so I can fully understand how the share exchange will work. In a share exchange will it be your broker or whom (DTC)- who will demand that the mm back up the shares they sold you.
any input appreciated.