Matt made a strategic error in 2011, which shareholders are paying for today.

The convertible debt was/is a good concept, but the process of leveraging it into other areas going forward has been mis-planned.

Reading the PR's since January 2012, I am now concluding that the best way to create "BCAP" would have been to acquire non-producing shells or file fresh paperwork for all the necessary legs of the business TA, BD, clearing house, investment bank). The assets could have been established / acquired at a much lower cost basis. The next leg would be to figure out how to boost Assets Under Management (AUM).

Using the shell strategy and a very small office (if a real address is required as opposed to a PO Box) would significantly limit the cash burn rate. It would have taken somewhere between 6-18 months to file all the paperwork, so the cash burn rate would have to be calculated over that timeframe to minimize a share price crash (what is currently being experienced).

If I'm correct, the largetst single asset to be acquired for BCAP is the BD. A shell can be purchased for $60-90k with a couple of licenses (without AUM). That should be undertaken only after the other components (TA, Clearning House, Investment Bank) are all in place.

The other strategic error to-date has been the communication strategy. It's too infrequent to support the shareholders information needs.