Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
camper9:
No more than the fraud committed by Megas by trying to sell BCIT for $2 million dollars, collect $50,000 downpayment, not report it on the books. Oh, and did we forget about Megas not reporting the identity theft to the SEC/DTCC when he first discovered it.
Fraud! The only reason why you conveniently forget about this, or consistently overlook, is because everyone wants to blame just the DTCC for not doing their job in the first place. By Megas waiting to report the identity theft(May 2005), because he tried to handle the identity theft on his own, millions if not billions of shares were traded in the market thru June and July 2005.
And then certain people want to report how the SEC told Megas he was on his own. Megas, and unfortunately the investors of BCIT, was left on his own by the SEC/DTCC because he tried to do things his way to begin with.
raggs:
My comment was not based on any rumors on AMHI, but based on current experience with "leadership" of a small private company, 3 employees, that has developed a technological solution with a camera to solve a problem, with some competition, but has unique functionality and low price of entry into the market.
The reference to "leadership" is the owner has constantly updated private investors with email notification of activity and providing pictures and communication(ie conference calls).
He is wanting input and makes investors feel like they are involved. And is open. Does he get some pointed questions? yes, but he believes in what he is doing and it appears to be working.
He is open about not wanting to take it public, probably for the reasons Dr. Stucki wishes he would not have taken AMHI public. However, private or public, it would be nice to keep the investors updated on a periodic basis. It is only courtesy for the money received by investors that enabled him to produce the results to occur. The difference, Dr. Stucki apparently dealt with people that did not respect his right of ownership, which has led to the law suit. Hopefully, Dr. Stucki had insurance to protect the company rights of the technology to help offset some of the cost of the law suit. IMO, these issues are hard to prove in the courts, but I am trusting the Dr. has sufficient information to make his case. And this may be why he has not been saying much.
BBALLGUY:
I agree. I have a private investment in a small company, that will make it big soon with a lucrative international licensing agreement with unique technology. That is exactly what I am being told by an insider as they are waiting for a larger company to acquire them. And all the private investors will be taken care of and the principals will not have the headache and costs to take them public.
I am glad I had the foresight to pull my 401K rollover money out of the market last year and place it in some good private companies.
I did invest in AMHI a couple of years ago and patiently waiting. AMHI, IMO, is a sleeper and a keeper while patiently waiting for the good times.
Being anxious for nothing as I came into this world with nothing and will leave it with nothing except a legacy, as the good doctor will, too.
sonystyle:
Where is Lee Iacocca when you need him?
the-golf-god:
The only thing I came up with is Lojoya Texas or La Joya Texas. Seems to be a suburb of San Antonio. May have something to do with local taxes.
Not sure, but at this time the only thing I have come up with.
tradinglong:
I am not going to post what you say. If it is something you cannot say publicly, then you probably shouldn't say it at all.
Some things are just better left unsaid.
tradinglong:
if you have something to say, say it in a public forum.
it must be easier to comment on someone else such as Dr. Stucki, but hard to receive commentary on self, eh?
tradinglong:
you obviously are not a webmaster.
clarity:
I do have to correct you here:
Since the shares were unregistered shares and distibuted by an unapproved Transfer Agent by DTCC, with approval by the DTCC and all without Megas' authorization, and in addition the certificates/shares were unregistered disavowing the reverse split,
Megas has a right to refer to holders of said certificates/shares, legally bought thru brokerages(hiding behind "selling legal shares"), as fake shareholders of BCIT/Energy Source, sue shareholders for fraud, all while he tried to swing, according to Megas, in undocumented(except email by Art2Gecko) a deal with Pino behind closed doors for 2 million dollars, accepting $50K as downpayment(cash, check, don't know payment form) not reported as income to BCIT on financials.
Hope this covers the correction.
mastaflash:
Thus the difference between you and me. I have forgiven TM no matter what happens. your forgiveness is conditional.
"I will forgive TMs foul mouth...if he gets this to where we all profit...especially him"
mastaflash:
I do not know the heart of Megas, except from what I have read. I understand the frustration of all that transpired, but to respond with the profanity that he has been reportedly quoted on speaks loudly to me about the man.
I would think a man of his reported stature would refrain from such response to show himself bigger than those that caused harm to his property. This would earn my respect and trust in what he says.
At this time, I have no confidence in him.
The truth will be revealed in time as May 2009 we will celebrate the 4 years of Megas discovering the identity theft,
but he chose to wait til July/August 2005 for turning to the proper authorities. IMO, his silence during that time did more harm to BCIT/EnergySource shareholders than can be comprehended. Why should I expect him to break his pattern of silence, now. He only has himself to blame for the position he finds himself in because of how he handled the situation in the beginning.
Time will prove me right or wrong. If wrong, I will be the first to admit it. But I know, I will have those on this board to remind me.
venturer:
IMO, a good webmaster would take responsibility for ensuring correctness of all information before posting to any web site, especially if they are trying to promote their work.
Mastaflash:
You are a tough nut for refusing to recognize all responsible for the screw up:
1)DTCC staff that did not do due diligence on the illegal certs and Pam not being a Transfer Agent
2)Megas who did not report the identity theft to SEC in May 2005 when he first discovered it. He delayed until August 1 2005. Why? 4 years later and IBIE? He has no reason to bailout BCIT now.
3)the MM's and broker/dealer's for not being first line of defense
and the shareholders pay the price, as the taxpayers are now paying for the big bailout.
Time and the Creator of it are my friends!
webmoney:
I guess that is what is meant by "can't see the forest for the trees."
..."however the posters on this board believe the question should go to T.Megas the CEO!"
Webmoney:
IMO, since ArtGecko posted the commentary, only he could answer the question to the original intent of the comment concerning the $60 million dollar potential investment by TM.
rockie101:
Under Etrade it is sell only
WPOSullivan:
http://secfilings.com/
free registration
type in qmlm
ILVMNY:
And Eugene will take it. Edgar reported a Form 5 SEC Filing issued today at 6:33 pm (EST) by Eugene of Quest. It basically stated Eugene sold approximately 1.3 million shares during the month of July, 2008 at an average price of .0237/share or a total of approx. $31,000. Not bad for a penny stock. Hope he used the money to pay the hard working miners during that time.
An interesting note was the symbol was QMMGE. I do not remember that symbol.
realwood:
good question?
webmoney:
I agree. And with the Madoff($50 billion versus maybe $75 million, hmmm) issue and other financial crises, BCIT may have now been pushed back even further on the list of priorities, IMO.
webmoney:
IMO, the DTC would have corrected their mistake, but by Megas delaying reporting the identity theft, it was probably too late for them to do anything reasonable.
So you have failure to send out a PR correctly and failure to report a crime by the CEO.
Not blaming, but identifying part of the problem, IMO.
kruy:
They may have a point. Somebody could have intercepted another of Megas' emails and changed the wording in it before it went out.
sannwinds:
No trading Monday. Market is closed.
don't need to. Megas said he received it. That is it unless you are calling him a liar also
2late:
I can say the same about you of having an agenda. All I am doing is reminding people of the facts that Megas stated himself in emails, which people ignore or refer to as joking around.
I have been around the justice system many years and know enough that just because one is found not guilty doesn't mean they are. Case in point: what is your opinion about OJ Simpson-innocent or guilty?
You cannot tell me the earliest date Megas reported the crime, but as a matter of public record I can tell you that August 1st 2005 is. Noone has come forth to say different. Unless you have an earlier date, your comment is void.
I have not blamed Megas, but have exposed the failure on yours and other parts to face the facts from Megas himself.
The only way I will go away is when BCIT/Energy Source goes away or the moderators remove me. But I have not been abusive towards anyone on this board as have people like you who have a closed mind and do not know how to maturely interact with people of differing views.
Smart Quasi:
You are correct to a point. Your forgot Megas making a deal with Pino, while some say that was just a joke even though Megas says he took $50,000 that he did not report financially for the company. Just because he owns the shell does not mean he has the right to negate making legal entries for the sale of the company. Show me where this down payment was recorded as a legal entry for the company. I guess you are calling Megas a liar(ie. may not? - he said he did in an email). Unless that email was modified by the person that produced the email communication of which that person denied touching it up.
What you and many others on this board keep failing to admit to is the failure of Megas to report the crime in May 2005, which would have minimized the onslaught of trading activity that occurred in July and August 2005 that may have attributed to the NSS or whatever type of buy/sales activity occurred.
Do you not think that the DTCC and SEC have a recorded history of every trade that occurred? Well, I used to have a license and worked in IT brokerage department and I can tell you they know everything, every brokerage, MM, buyer/seller involved in the trade that occurred on BCIT and know where the trade executed, time of day, the volume, and price and much more.
The SEC/DTCC could have helped Megas resolve this issue. IMO, they didn't because of Megas and Sytners' arrogance as has been reported. I have not heard of anyone disputing the incident occurred with Megas/Sytner and the DTCC/SEC. Please let me know if this didn't happen.
ditch72:
It's in his email. He wrote it, I didn't. You do not have proof that he joked about it, it is your opinion. He took the $50,000 and didn't report it. That to me is no joke.
You can try to fend for Megas all you want. I do not have to go to the SEC. They already know what happened. As I have stated, sometimes prosecutors let some things go to get convictions they know they can.
Megas trying to clean this up on his own has been punishment enough, IMO. That is why it appears he has abandoned BCIT/Energy Source.
mikeymac:
I do not feel sorry for Megas having to spend $800,000 or more. He created the mess by not reporting the crime in May 2005. One reaps what they sow. The $800,000 price tag was due to his negligence, and lack of good counsel. Just think, Megas could have used that money to pay off all the fake shareholders and buy another shell and start all over clean.
If Megas, after 60 years of living, hasn't learned by now about being honest and upright, then he has little hope.
Also, look at what Madoff has cost himself, his family, the country, the world due to his greed. Yes, SEC has some responsibility to the Madoff mess as well, again due to their lack of due diligence when people reported the crime. But I cannot change men's hearts.
mikeymac:
Just to let you know what world I am in, I have been called 4 times to jury duty and have served on many juries. I have also been involved with FBI investigation and have seen the court systems in action, especially in Gary, Indiana. What a joke this one is. Judges were definitely for the defendants.
I do believe in innocent until proven guilty. But Megas admitted himself to bartering with Pino for BCIT. $2 million is what I remember the asking price of which Megas admits to receiving $50,000, but did not report it on any financial statements regarding BCIT. Megas words, not mine. He convicted himself, IMO.
mikeymac:
You obviously have not read some of my posts in the past. I understand the law enough to know that the prosecutors may lessen charges or not place charges at all in order to get convictions on what they know they can. IMO, this is what happened here. The SEC/DTCC went after what they knew they could easily get a conviction on. Not right, but that is the way the system works.
Since you know some much about how this world works, why are there 2 DEA agents in Arizona serving time in jail for doing their job? I am hoping George Bush will pardon them before he leaves office. The US system isn't necessarily perfect, but it is better than most systems in the world. Why else are so many people trying to come to America? It is called opportunity. One only gets out of life waht they put into.
IMO, SEC/DTCC felt punishment enough for Megas to clean up the mess he helped create by his negligence to report the crime sonner than later.
Smart_Quasi:
I am looking at the whole picture. I have stated SEC and DTCC did not perform proper due diligence. This is no excuse for the CEO Megas to not report a crime when he discovered it in May 2005. SEC could have stopped trading in June at the latest instead of September 2005.
Instead, Megas tried to handle it on his own and made things worse for more people. Then the DTCC told him to clean up the mess.
And I have said before, the truth will become known at some point in time. I am not complaining at all here because I cannot control what others do.
Here is the Serenity prayer that reflects my thoughts:
God grant me the serenity
to accept the things I cannot change;
courage to change the things I can;
and wisdom to know the difference.
And:
Living one day at a time;
Enjoying one moment at a time;
Accepting hardships as the pathway to peace;
Taking, as He did, this sinful world
as it is, not as I would have it;
Trusting that He will make all things right
if I surrender to His Will;
That I may be reasonably happy in this life
and supremely happy with Him
Forever in the next.
Amen.
--Reinhold Niebuhr
Also:
Trust in the LORD with all your heart
and lean not on your own understanding;
in all your ways acknowledge him,
and he will direct your paths.
Proverbs 3, 5-6
2late:
There is no twisting. The fact is that Megas did report it, but not until August 1st 2005. As I have asked many times for anybody on this board to provide information that Megas reported sooner than August 1st 2005. To this point in time January 10, 2009, noone has produced anything contrary to this date.
Your statemnet about 230 million to 1 billion would not be an issue if Megas would have reported in May 2005.
Nice try.
mikeymac:
wrong is wrong.
The bottom line is there is no degree in measuring wrong.
mikeymac:
Let the authorities do their job. I did with the hit and run incident in December 2008. The new neighbors finally admitted to letting a friend use their car that hit mine. This was after the police made 4 attempts with them to admit it, but because their friend would not admit to it, the car owners were facing 6 months in jail and $1,000 fine. In BCIT/Energy Source case, Sytner(I understand he associated with IBIE now) told Megas about the incident in May 2005. Funny thing, Megas didn't notify authorities about the crime, and tried to handle issue himself only to find out it made things worse. And good old Sytner told the DTCC what they could do.
So here the shareholders sit almost 4 years later and no movement closer to trading. It's amazing how the shareholders are being punished due to failures of DTCC, SEC, Megas and Synter not doing the right thing.
Smart_Quasi:
They tried to be nice and allow Madoff to stay in his million dollar apartment, instead of going to jail. What did he try to do? Send $173 million dollars to his family/friends, send over a million dollars in jewelry to his family members.
What did Megas try to do, sell BCIT for $2 million dollars of which he collected $50,000 and didn't report.
SEC didn't have time for Megas. They were too busy lifting the uptick rule to increase liguidity.
2late:
Let's not forget about Megas' failure to report the crime in May 2005 when he discovered what was going on. Because of his failure, more illegal shares were allowed to enter the market.
The earliest date anyone can come up with Megas reporting the crime was August 1 2005.
The question is: why did it take so long? How many more illegal shares entered the market?
Yes, I have said all along DTCC and SEC were guilty of not doing their job, but Megas allowed the situation to get worse by 'not' reporting the crime in May 2005. The trading could have been halted in June 2005 instead of September 2005.
Why do people on this board continue to ignore this fact. Yes I said fact!!! Admitted by Megas himself.
Clarity789:
Megas does very little in writing, unless someone else does it for him. And even that gets intercepted. Remember his email about the agreement with Pino for $2 million that some here just say was for folly. Megas did not report the $50,000 down payment by Pino. Would he have recorded the $2 million?
Janice:
I understand the frustration with investors here with the DTCC/SEC not doing due diligence. Especially when you have statements regarding the Madoff fiasco as follows:
"It's flabbergasting that nobody can nail the bums in the SEC who turn their back on and/or aid and abet people who defraud investors," Scannell said in a telephone interview Monday.
Scannell was a whistle-blower in Boston that eventually persuaded state regulators and the SEC to act against mutual fund giant Putnam Investments, where Scannell worked.
And,
In a forceful condemnation of the SEC staff, Cox said there had been credible and specific allegations regarding Madoff's financial wrongdoing going back to at least 1999.
But there should be some frustration with Megas himself for not acting as a responsible CEO.
janice:
There are paint scratches on the back right bumper and the bumper height is just right in alignment with the impact area of my car. Nice new neighbors. It is now in the hands of the police for complete investigation.
The point here Janice, if I would have waited and taken no action, ie reported it to the proper authorities, IMO I would not received the assistance from the authorities I am getting now. They probably would have asked, "why did you take so long to report the accident"?
That has been my question all along with BCIT, "Megas, why did it take so long to report the identity theft to the proper authorities"?
I find it interesting that there is noone in the Megas camp that has come forth with information that Megas reported identity theft before August 1, 2005. That is over two months from early May 2005 that Megas first discovered the identity theft.
It is hard for me to comprehend how an investor can overlook this point.
Again, true that DTCC did not do their job in the first place, but the delay by Megas allowed more bogus shares to enter into the market.
daveXV19:
Especially when one considers what Mr. Madoff just admitted to. $50 billion gone and all he said was - it's a ponzi scheme.
We have not heard the last of Mr. Madoff and the shot heard round the world.