I agree that tangible facts are the best medicine,

I agree that tangible facts are the best medicine, or an unexpected positive PR...
However, if someone who was a defender of BCAP turns 180° that does influence other people' perspective and opinion of the stock. Miami, and others (me included) felt a shoch when he announced the possibilty of a RS/AS, even if he meant it as a last resort. That caused a lot of panic (the future will proof if this was justified) but without a doubt that made the SP tank. There were positive things said in that cc but the board was over-shadowed with FUD (again), and that instigated a massive dump of half a billion shares (avalanche effect). This proofs once again how 'opinions' can effect what happens with a stock and since this is a trip stock who hinges predominantly on message board sentiment, any overweight to either the positive or negative side will always hugely impact the direction of the stock! We were able to get BCAP to 0.0007 with positive vibes, and conversely any form of dominant negative conjecture will drive it back in the ground... (as we witnessed in both occasions)

I honestly don't recall Matt saying that the brokerage will cost a million... (although it can), but that is just another lie by faggy's new slave. Matt will/wants to sell Preferreds to raise a million, but somehow this got distorted in Miami' emotional blur... or it is yet another attempt to spew nonsense... which only damages his reputation even more... (like working in the marble & granite business and taking polygraph tests for a living at the same time... LMAO) Talking about self-destructive eh!!

The PR from Jan the 6th said he has $100k and if my senses are correct he/Fairhill did sell halfway in Jan, so he has sufficient money for the short term, so I don't worry much about that. But to answer your question about those Preferreds. He is now testing the waters to see how much he can muster.
He seeks and we as shareholders have promised to chip in, so when he has sufficient money 'reserved' he will then have a provisional thought of what price range the brokerage can cost to acquire. So the filing with the State will follow when he has a) money and b) a brokerage in sight. This will take time to complete, as you can imagine and no one can predict how long this will take... But since he is seeking for a brokerage that fits his needs from the end of 2011 I think he has one in his cross-hairs.
(JMO)

There about 50 mil sh's on 2, so all in all that ain't that much, and about double of that on 3's, so that will take some eatin' to get through that. But when the brokerage news hits those shares will be gone fast, either they get slapped silly or they pull their asks higher... Until then its indeed flip-flop style...

~7~