Observe the BCIT situation. Their stock has been g

Observe the BCIT situation. Their stock has been globally locked for years and years. It looks like BCIT finally has gotten a lawyer to communicate with the DTCC and it looks like they are now taking steps to clean up the issues with the stock.

http://www.prweb.com/releases/2012/10/prweb10058504.htm

Mr Roth needs to communicate with the DTCC and inform shareholders exactly what the real reason was for the DTC global lock on SFIO. If the DTC refuses to respond, Mr Roth can get the SEC to assist. Look at what BCIT did, they basically told all shareholders to request their shares from their brokers in certificate (physical) form and send in old certificates then the T/A is going to issue shareholders new certificates with the new active CUSIP number on them. The effect of doing this basically by-passes any alleged phantom counterfeit shares not delivered to client accounts and has the effect of forgiving the brokers for abusing the naked short exception. At some point the shareholders and management need to decide if it is just easier to simply re-issue new stock certificates to all holders no matter what the new O/S number will be versus sitting with the global lock indefinitely. Obviously, there is already law and regulation written for these situations. Specifically RegSHO has close-out obligations to mandate the brokers to buy-in to cover the shorts and deliver real shares to customers, however it is rather obvious that in a number of globally locked stocks which may have been the victims of massive brokerage fraud illegally selling phantom shares to make 100% profits the SEC, FINRA and DTCC work together to stone wall the issuer and shareholders and lock the stock up to give the brokers leeway to take the stock down and keep it down for as long as it takes until shareholders capitulate, give up and sell them real shares for dirt cheap. Its an outrage but companies like BCIT have been engaged in this fight for seven years and they finally have learned that it may just be easier to forgive the NSS cronies and issue new stock with a new CUSIP so the shareholders can continue to trade their stock and the company can move forward. According to the DTC records for BCIT, they had about 650k shares in their depository and it looks like over 80M counterfeit shares were sold by crony brokerages by recent counts. This was probably done broker to broker directly in ex-clearing arrangements and even though DTCC had a measly 650K shares they globally locked the stock. This means that for any stock, anytime, on any given day, two or more brokerages can set about to buy and sell share entitlements (IOUs) back and forth to each other in excess of the full float and even if the DTCC has just 1 share of stock in custody they may decide to globally lock the stock. Does this seem crony to anyone besides me??!! Shareholders, you may not have known it but all of your stocks are at the mercy of crony brokerage houses who may depending on their financial motives decide to flood your stock with FTDs at a whim causing the DTC to lock up the trading in your stock to protect the brokers and the SEC and FINRA will look the other way! Why? Most of the regulators at the SEC are only working there as a stepping stone for their careers so they can later get jobs at the Wall st firms they protect with these shady global locks and "chills". Beware the dark side, it clouds everything.

$SFIO!