Replies to post #35884 on Bancorp International Group Inc (fka BCIT)

[playstk]

serf - I may have found some information concerning exactly that issue.

Question - how can BCIT clean up all the counterfeits, shorts, etc IF THE SEC FAILS TO ACT?

Here is a VERY interesting article.... (b/ds means broker/dealers) worth reading it ALL

http://www.megabolsa.com/forum/viewtopic.php?p=10130&sid=fd85e3722094d2c60599f0673ae0b5d8

"Nevada domiciled companies usually cancel all of their shares in the system, both real and fake, and force shareholders and their b/ds to PROVE the ownership of the old “real” shares before they get a new “real” share. Many also file their civil suits at this time also. This indirect forcing of hundreds of U.S. micro cap corporations to go through all of these extraneous hoops and hurdles as a means to survive, whether it be due to regulatory apathy or lack of resources, is probably one of the biggest black eyes the U.S. financial systems have ever sustained. In a perfect world it would be the regulators that periodically audit the “C” and “D” sub-accounts at the DTCC, the proprietary accounts of the MMs, clearing firms, and Canadian b/ds, and force the buy-in of counterfeit shares, many of which are hiding behind altered CUSIP #s, that are detected above the Rule 11830 guidelines for allowable “failed deliveries” of one half of 1% of the shares issued. U.S. micro cap corporations should not have to periodically “purge” their share structure of counterfeit electronic book entries but if the regulators will not do it then management has a fiduciary duty to do it."

[goodkarma37]

Serf... I am kind of confused. Correct me if I misunderstand this.

"The issue of brokers who cleared and settled counterfeit shares regardless of who issued them must be resolved," you said.

My understanding is that all our shares become "REAL" Bancorp International Group shares, and the company does not have to distinguish March indy shareholders from US, if the SEC and NASD follow Mario Pino's CLAIM that our shares are not FAKE. If
this is the case, I do not think that the brokers are responsible to settle our trades because they will also claim that they settled real shares of Bancorp Internatioal Group Inc.

If we do not own FAKE shares of this company, our wait will be .....