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Microcap & Penny Stocks : BCIT.... $1 or bust. Tale of "A broker's Plea for shares" -- Ignore unavailable to you. Want to Upgrade?


To: cmgibubba who wrote (35)10/30/2006 2:41:38 PM
From: M0NEYMADE  Read Replies (1) | Respond to of 209
 
Oh mami! look at my BCIT! Back trading again....

Here's a link to what's happening

Subject 55996



To: cmgibubba who wrote (35)2/19/2007 2:58:48 AM
From: M0NEYMADE  Respond to of 209
 
Ameritrade playing BCIT dragazz? Well guess what... Just like any other market participant, Ameritrade is liable for their contractual delivery obligations. The consequences for failing to deliver securities have appropriate measures set in place by the Commission. If Etrade has the new (cusip# 05968X205) shares exchanged...... then likewise it is beholden for Ameritrade to have the new shares also!

(A) Should Ameritrade fail to comply. Tell them they are in clear violation of the Commissions (1)"Customer Protection Rule" AND (2) state statutory rights.

It is time to demand action from Ameritrade. No more dragazz! Where are our GD new BCIT shares.

(B) Tell Ameritrade to produce your securites they are "fully paid securities" and a "qualified security"

"The term fully paid securities shall include all securities carried for the account of a customer in a special cash account as defined in Regulation T promulgated by the Board of Governors of the Federal Reserve System, as well as margin equity securities within the meaning of Regulation T which are carried for the account of a customer in a general account or any special account under Regulation T during any period when section 8 of Regulation T specifies that margin equity securities shall have no loan value in a general account or special convertible debt security account, and all such margin equity securities in such account if they are fully paid: Provided, however, That the term "fully paid securities" shall not apply to any securities which are purchased in transactions for which the customer has not made full payment.

(C) Send the Commission in writing DEMANDS to uphold their rule 15c3-3(m)

It is the Commissions rule 15c3-3(m)that ensures: "The aggrieved buyers have adequate and effective remedies for non-delivery. The requirement that customer sales be completed is sufficiently regulated in rule 15c3-3(m).

LASTLY: WHAT IS THE BROKERS OBLIGATION???

A broker or dealer shall not be deemed to be in violation of the provisions of paragraph (b)(1) of this section regarding physical possession or control of customers' securities if, solely as the result of normal business operations, temporary lags occur between the time when a security is required to be in the possession or control of the broker or dealer and the time that it is placed in his physical possession or under his control, provided that the broker or dealer takes timely steps in good faith to establish prompt physical possession or control. The burden of proof shall be on the broker or dealer to establish that the failure to obtain physical possession or control of securities carried for the account of customers as required by paragraph (b)(1) of this section is merely temporary and solely the result of normal business operations including same day receipt and redelivery (turnaround), and to establish that he has taken timely steps in good faith to place them in his physical possession or control.

PAY UP...

BY -MONEYMADE-

Sources:

law.uc.edu
sec.gov



To: cmgibubba who wrote (35)2/28/2007 1:20:25 AM
From: M0NEYMADE  Respond to of 209
 
Wow....Bravo our first coherent non-bullSh#t response from Megas! (And it's longer than two sentences long) see bottom

Dear Mr Megas,

This is a rather lengthy email and I apologize for that fact up front. I am somewhat of a writer at heart and I have a tendency to be rather prolific in my writing.

A fellow BCIT shareholder recently posted on Raging Bull, a reply from you, to an email he previously sent you. He had added his comments that “this doesn’t look good” to his posting. Here is what you had replied to him:

CC: tpm8@harolds.ch
Subject: fshr / fake certificates BCIT
Date: Saturday, February 24, 2007 8:51:22 AM
I cannot accurately ask answer that question. If the brokers who sold you shares based the transaction on shares supplied to the market from either Capital Growth or Darbie and co, then you should now have legitimate shares. However if your transaction was based on paper other than that sourced from the two brokers above then you have fake shares. A large number of these exist. If you have fake shares, and you will really only know this when bcit completes the certificate exchange under way now, then your broker who sold you the fake shares must either give you your money back or go and find you good certificates, this choice is down to you and to their cost and will depend on the price of the share when trading resumes.

best regards
tm
bcit

I posted the following response to his message on RB, taking him to task for his comment about your reply. After some thought, I decided to send you a copy of my reply to his message to make sure that what I said was correct and in agreement with your own line of thought. Here is my reply:

traderdoll0,

I have a couple of comments but I will make them as separate postings so as not to distract from the meat of what I am trying to say. First of all, as to the Megas reply to your email.

I fail to see how this "does not look good". It looks exactly like it always has, imo. We have known that the Capital Growth and Darbie issued shares were covered already. We also knew that there were a huge number of FTDs (air shares) out there. BCIT has no responsibility for the FTDs. BCIT did not issue them or sell them. The crooked brokers did that and it is the brokers that have the liability for them.

As Megas stated, the brokers must either buy back our shares or obtain legitimate shares to place into our accounts. Such is the case with any FTDs. The brokers cannot simply give us our original investment back because it has been more than 3 days since the trade took place and the trade has legally "settled". The shares are in our accounts until we decide to sell them and nothing can change that.

This is exactly what we have been counting on in order to cause the PPS to skyrocket once BCIT starts trading again. The brokers will have no choice but to buy legitimate shares on the open market to put into our accounts or pay our "asking price" for the air shares we are selling. How much each person who holds air shares will get for those shares will depend on each individuals "asking price", or the PPS that they are willing to let them go for.

In actuality, those who hold legitimate shares owe those who hold air shares a debt of gratitude because were it not for those who hold air shares, those who hold legitimate shares would get nowhere near the PPS that they will when BCIT starts trading again.

So, once again, I fail to see how this is "not looking good". I think it looks real good and points to a bright future for all BCIT shareholders when we start trading again. If Megas had been negotiating some kind of settlement with the brokers who hold the FTDs, then I would say it might not look good but from all appearances, Megas is NOT negotiating any kind of settlement with brokers responsible for the FTDs.

If I have missed the point in your statement that this "does not look good", then please explain what and why you think it doesn't look good so that I can understand where you are coming from.

So Mr Megas, are my thoughts on the issue of the FTDs of BCIT shares in agreement with your own? I don’t hold a lot of shares, only about 135,000, so I don’t expect to become a millionaire once we start trading again but I do feel there is the potential to earn quite a handsome profit. Do you agree?

On another issue that your “friend” Woogie keeps bringing up, when you reply to people’s email, you always add “fshr” to the front of the subject line. What does “fshr” mean and why do you put it there, if I may ask?

I posted a message on Raging Bull around the first of the month concerning you. I doubt you saw that message unless you read Raging Bull yourself so I wanted to share it with you here. This was in reply to something your friend OHBULL said:

Megas has the potential to be a true blue hero to not just hundreds of BCIT shareholders but to hundreds of thousands, if not millions, of shareholders in hundreds of other companies. If he is able to pull off a huge windfall for all of us, his win will embolden hundreds of companies that are naked shorted to hell and back and BCIT will become famous to all the abused shareholders and infamous to all the abusing brokers. A win by Megas will show the world that the DTCC and the corrupt brokers they shelter can be beaten and many more companies will then try. He has it within in his grasp to single handedly change the very landscape of securities trading in this country. Someone pass this on to Megas for me. He needs to know how much we support him and are proud of him for standing up for us.

VERY PERSONAL STUFF REMOVED FROM HERE

...I tell you all these deeply personal details because I thought you should know how the potential for BCIT is the only bright spot in my life and the only thing that I have to look forward to.

My very best regards,

imsoweary

--------------------- MEGAS REPLY ----------------------------------

From: Thomas Megas
To: imsoweary
Sent: Sun 2/25/2007 9:35 PM

Since prior to the advent of the counterfeiters there were only 1,029,000 free trading shares of which about 70% have never been traded leaving an effective float of 300,000 shares. fshr refers to all shares that have resulted from the fraud. Some have now been covered by Capital Growth and Darbie, that still leaves a large amount out there.

All shares other than those authorised by(old and those given to the 2 brokers) me are counterfeit shares printed by both carter and thompson who never according to the meaning of the depositions in the oaklahoma court case had any right or legal authority to print anything. We will be sueing carter in due course along with thompson for breaking her undertaking in the settlement.

The person called woogie is also going to be sued who is supposed to be called marcey. My instincts tell me his real name is jay dewhurst , no proof yet but working on it, one of the defendants in the court case which has yet to be resolved. He was one of the original criminals involved in attempting to forge the takeover of the company and was certainly directly involved in the counterfeiting of the certificates.

He is currently holding many forged shares and is somehow trying to get lost in the `confusion and fog of the bcit saga` so that he can somehow get value for them. He will have difficulty with this because he did not pay a broker for them, he gave them to himself- He is also desperately trying to divert retribution which he knows is coming- bcit will eventually get round to them all.

Your interpretation of what I have now said quite often publicly is correct. Nobody who has a contract with a broker for shares held in street name can effectively make a claim for a certificate until bcit has completed the cert exchange. When this is finally announced and an individual cannot get shares then the responsibility and the onus falls squarely on the brokers. Those with contracts with brokers are effectively disenfranchised from claim until this process is completed. The burden to supply good certificates will amplify as and when bcit concludes its first deals. Only capital growth and darbie were able to see that bcit ( was not `the usual suspect`) and hence closed their positions, the rest of the industry bet the other way and ignored bcit .

In the early days I had no idea bcit would have travelled this far through the mess, during the first 8 weeks getting all sorts of conflicting information and version of events. Secondly I had no idea how the tertiary markets functioned and learned as I went along particularly with the help of someone called art gecko. Time and effort has now given me some clarity on the matter. I am sure that those who oppose bcit will have further traps in store, none the less the company will go on.

best regards
tm
bcit
investorshub.com



To: cmgibubba who wrote (35)4/26/2007 5:10:33 PM
From: M0NEYMADE  Read Replies (1) | Respond to of 209
 
Atten: If you have Etrade here is an email confirming shares are legitimate.

Email from Etrade when the PR about fraudulant shares came out.

Here is the response:

Thank you for your email regarding your shares of BCIT. I am very sorry to hear
of your concern. I reviewed your account and I am glad to say that your trade
has settled and the legitimate shares are listed in your account. These shares
are available to you to trade, hold in the account, transfer, or have issued to
you in certificate form. We do value your business.

I hope this information has been helpful. Please let us know if we've addressed
your questions and concerns satisfactorily by clicking the link below and taking
a 30-second survey.

surveymk.com

As always, thank you for choosing E*TRADE FINANCIAL. If you have additional
questions or need assistance, visit our Help Center at etrade.com/helpcenter, or
give us a call at 1-800-ETRADE-1 (1-800-387-2331) between 7 a.m. and midnight
ET, seven days a week. From outside the U.S., please call +1-916-636-2510. We
look forward to serving your investing, banking, and lending needs for many
years to come.

Sincerely,

Elizabeth May
916-858-5090 ext 5936
Monday-Friday 9:00 am- 5:30 pm PST
E*TRADE Securities Customer Service
etrade.com

ragingbull.quote.com