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Attaway not on board, yet, because legal fund not
at his retainer amount. So you are not going to hear diddyly squat until the retainer is paid, imho.
The Senate Finance Committee was going way off base,
and had delegated the examination of the SEC and DTC to a gentleman who, instead of researching the bastards, ASKED them if they were being naughty.
In other words, Burns was clueless and useless and
his treatment of the criminals at the SEC was disgusting, pitiful, and ignorant. He should take a page from Marcopolous, rather. I cheered Megas'
refusal to work with such a toady.
With such guys as Burns doing the "heavy" research
for Senators, it's no wonder our government acts so
ignorantly and impotently toward Wall STreet and the Big Banks.
You seem to me like the kind of person who wants
the ghost of Thomas Megas of JC, to be there to
tuck them into bed, each and every night.
We are on hold, here. First the DTCC and SEC are putting up a whale of a fight. Second, our CEO
has stated his position ("not giving up") over and over, but presently, is BUSY elsewhere, with more
pressing concerns. Third, the shareholders want
constant pep talks in order to believe that the legal fund is genuine and a sincere effort to gain
legal assistance, pep talks which neither OhBull nor Megas are willing to provide(it's silly, when enough has been said, already, and the next breath of substance should come from a lawyer working for US.
All, of course, imho.
2late, your posts are eloquent. thanks for them.
as for Megas, it seems it is hard for stock investors to appreciate what it is to be IN BUSINESS.
You don't really have time for a protracted legal
struggle. that is something lawyers do for you, and if the lawyers in Oklahoma had been any good they
would have done much better for much less than happened.
To start en entire NEW legal chapter, with Attaway,
requires a deep breath and time off to attend to the real world of business. It seems YOU can appreciate this need for a deep breath and time for business.
I surely do.
Looking forward, with you, at the resumption of
war, here, versus the real villains who are
in the SEC, the DTC, and those brokers who work with them for criminal profits, to the harm of our country.
Compared to the money I have tied up in BCIT, my
contribution to the legal fund is peanuts. But it is not just the money, it is the INJUSTICE that keeps me here and supporting Megas for all the hell our markets have put him through.
Big Money, Please be patient with the legal fund and the legal effort to follow. THis is not snap your fingers knot. I am considering sending more money
this summer, if the fund needs it. I am angry angry
angry at DTC and SEC and will do anything I can
to address their dirty work. It is no longer a matter of money, but of honor versus corruption of the worst order.
Yes. The money is in PayPal, awaiting more funds.
Just a little short of what's needed. Very few of the 1,100 shareholders have any faith left, apparently. But I have a lot a faith, have since I bought the stock, in Megas. Very little faith in US govt and its
private agencies SEC, DTC, etc.
My Dad was a great businessman, and a whiz at math
and bridge. But he could't spell his way out of a paper bag, it did nothing to impede his honesty
and his excellent business abilities.
Yours truly could't spell until college, or senior year in high school. It was easy to correct, however,
took about a year and a half of attention to it.
You are right that bad spelling is not good spelling, but you are nit picking a bit.
Dave, most of those who contributed to the legal fund are satisfied that Megas will get around to
returning to BCIT's legal woes and efforts, and we
have received enough indications that Megas is
truly in PNG and truly out of contact with easy
communications from there, and truly BUSY with
actual business, not legal hassels.
I actually do not want him distracted from the PNG
Energy Source business, right now, until he returns to Europe. I know how he feels and we all know we
need legal help and that is expensive, both in money and TIME. Those who don't appreciate this, are
just not realistic, imho, or are doubting Megas
and just want him to hold their hand through all this doubt.
Nothing happens until two events:
adequate shareholder contributions to legal fund
to , at least, get a legal opinion
Megas returns to Europe from PNG, and has time
to devote to more legal hassel with BCIT .
So you bashers can take a siesta, and supporters can
chill. I, for one, will be looking for extra $$ to
donate to the fund. I have complete trust in OhBull
and Megas, and the latter's explanation for his
not initiaing legal challenge yet, satisfies me as
a serious one (he has BUSINESS to attend to.)
As for his neglect to communicate further, it's completely unnecessary, except for those who are
continually doubting his motivations, and I don't think he cares to assuage those people. in IMHO,
Mere typo. The meaning is clear.
Molson, he has (Megas) not blundered, he is just
occupied with other matters. BCIT is not the center
of his universe. What keeps him coming back to
legal challenge, is the downright dishonesty of
the DTC andSEC. I have no doubt he will continue
to challenge these folks (DTC/SEC) at a pace
he can manage. Meanwhile, I hope more shareholders
show good faith and contribute to the legal fund.
After five years of bs from SEC and DTC, even I,
who have a lot less skin in the game than Megas or
some other shareholders, feel the need to ease off.
This does not mean I am quitting. And I am sure
Megas feels similarly. He has business to attend to
outside of Europe, and where he is, communications
are difficult (PNG). It is good we keep this
issue alive, but we have to have respect for Megas
and other members, and a lot of patiene , to
get to the point of a legal action which, in turn, will be expensive and slow, imho.
Janice, any Senator with b###s, would realize the SEC
is a joke and not believe a word they say. Senator's
assistants, however, are another hand licking ilk,
and being relegated to one of them is an insult,
deserving a wanker insult in return. imho
Because, perhaps, Megas has lost respect for the SEC
and refuses to dance their bogus hoops until,
hopefully, the whole rotten lot of them are
indicted for treason against America. It's not just the money we were robbed of, you know, it's the
indignity to which we have been subjected by the DTCC, and SEC, and Senator's assistants.
Just saw The Green Zone, wherein the bureaucratic nightmare
that was US policy in Iraq is all too well exhibited,
and reminds me a lot of the Wall Street Zone.
Molsen, it was not a vague mention, it was a challenge to shareholders, imho, to which very few have risen, and why stuff is at a snail's pace.
(you wrote):
"Besides that vague mention soliciting funds to a paypal account I have no idea what is going on. "
Janice, you obviously overlook that this year he issued a PR laying out his hopes and plans (which the SEC dashed to heck, shortly thereafter), he attempted to spur the SFC to action rather than docile reaction
to the bs from the SEC (hopelessly long project, as proven by 8 years of Markopolus" efforts), and is awaiting action from
concerned shareholders regarding possible further
legal action. The ball is in the shareholders' court, currently.
And that old whine that "he sued the shareholders" is nonsense,since, clearly, it was a technical move to obtain information and flush out cheats.
tHANKS oPPY, FOR THE FEEDBACK. GREAT EFFORT.
Molson, I agree that Megas's silence is not good.
But it is a pause for him, and probably a welcome
rest, from an incessant frustration. Give him time
to do what he has to do (beyond diddle with the SEC)
and meanwhile we can procede to do something ourselves. We are not completely impotent. And Megas has said enough and we have the Oklahoma
case to utilize. But we can't do it without a lawyer, and a lawyer costs. So either we have faith that we can obtain some legal satisfaction, or we must give up.
Dear Oppy,
My main point would be that the original counterfeiting was used by the brokers as an opportunity for further crime: Using the original crime as a smoke screen to hide their piling on an outrageous amount of phantom nss shares and trying to bankrupt Megas with legal costs and to discourage him
from persisting with trying to get justice for the shell. That Megas has paused, after spending $800,000 on legal costs, shows they have almost succeeded.
That one brokerage jumped the gun and falsely told a shareholer that BCIT was bankrupt, showed their actual intent: To Sell shares that would never have to be delivered (make a fortune from commissions and
selling shares that never existed).
good luck oppy.
Molson, As far as I know, the legal fund does not
yet achieve the needed $20K, which as you must agree,
for 1,100 shareholders, is not a huge amount.
So, I await the fund nearing that amount before I
get further excited about BCIT's legal prospects.
Megas' silence, I read as pretty much in tune with my own feelings that until the shareholders or a few shareholders, show willingness to get a lawyer,
there is nothing to be done through the usual
channels (ie. congress, SEC, FINRA, ) due to extent
of corruption we are dealing with. I have it on
good authority (and it is reasonable to believe) he
is busy in the real world oF business, and can afford
to put BCIT on a back burner for awhile. ONLY WE
SHAREHOLDERS CAN PUSH THINGS FASTER, VIA LEGAL
EFFORTS VIA the very good lawyer Oh Bull has located,
ie. Attaway, who is, nontheless, expensive just to
retain for an opinion. But not expensive for 1,100
shareholders.
SO WE WAIT FOR THE SHAREHOLDERS TO MAKE A MOVE.
Use of the Oklahoma information would occur only if
we pursue the formidable forces of the DTCC in
COURT. That second initiative has not yet happened,
and if it should, it would be with advice of councel.
I hope enough shareholders will pursue legal action,
and will be willing to explore that, but so far
very few have shown any appetite for taking matters
into their own hands, even though Megas said he
would like us to show some spunk, there hasn't been
a lot of us who have.
As for Woogie. I have no doubt he died. And
I don't miss him, frankly. Especially the
poetry, and the acrid bitterness.
Janice, the guy has real estate in Europe,
homes all over the place, interest in Papua New
Quinea, and he has been a wide ranging businessman
for most of his life. Of course he has other
stuff going on. You don't amass a fortune without
having a LOT going on.
Dave, Megas has communicated and communicated.
He is frustrated and has OTHER business, REAL
business to attend to.
His silence can be, I believe, interpreted as follows:
1) he awaits indication that the fake shareholders
want legal action (ie are willing to put up a little
cash of their own, FOR A CHANGE)
2) He awaits some sign of regulation on Wall STreet that would address naked short selling victims
3) he awaits a break in his real world affairs,
in order to possibly start a new legal action (and an expensive one) against the DTCC
4) He is silent, because when he expresses his
real feelings for our Senator's assistants and the SEC, his profanity shocks and upsets people so
much.
5) He is silent because he stated it all in
the last PR, and because his intentions to file
etc did not have a deadline, everybody became unduly\
excited about WHEN WHAT HE PROMISES WILL COME TO PASS
... Moving the DTCC and SEC legally toward a huge
settlement or permission to trade is like moving a mountain. It won't happen easily or fast. Anybody
should realize that. But everytime Megas opens his mouth people expect too much of him.
This is my read, and my opinion, only.
We , the shareholders who care and put their money
where their mouth is, will get to the bottom of
this legal question, with the help of a good lawyer.
Or we won't . It's that simple.
Megas has many irons in the fire, and he likely
does not place a long legal stuggle high on his
priotity list. NOr do I. I have a life outside of
this.
But I will not forego a crack at justice, albeit
it may take time and money to achieve. Attaway
is the best news and crack of light for BCIT that I see. And I have learned patience.
rdgo, the old whine that shareholders got sued by
Megas is ridiculous. It was a ruse to gain information and it was never carried through.
I never feared that "lawsuit", because I didn't do
anything wrong. Anybody who thinks they were
harmed by that legal maneuver, is pathethic and
paranoid, or else guilty.
J.Shell, With the SEC a joke and all regulation
of our markets in shambles, I don't think it is
time to make wisecracks. Not amused. If Europe were not in such a mess, our mess would resound more loudly. But give it another year or so without
regulation and our markets will truly crash.imho.
Molson, if you have the energy, please forward that letter to Sen Kaufman of Delaware. He seems the only Senator interested in naked short selling.
molson_ice1 Date: Friday, February 26, 2010 2:50:06 PM
In reply to: None Post # of 129751
Received a written letter today from FINRA stating that they can not do anything for me as they do not have jurisdiction over DTCC? LOL... so they can enforce laws/rules on individual brokers, but not the DTC which is essentially run by the brokers as a group? LOL... if only the masses knew how rigged this game is. Amazing!
LexTrader, I donated months ago, but I don't expect much. And until we reach the $20K mark, I don't expect anything.
2lATE, I couldn't agree more with you. Megas is
always into business, and eventually this will come full circle, imho, and justice will be served.
I appreciate your support for our company and Megas.
The PR was put out BEFORE the revocation, The latter
changed everything, and put a deeper than ever
ice over the global freeze.
The intent of the PR was genuine. The unexpected occurence of the revocation by the SEC put the damper on any
hopes filings would correct the "problem". And I
concur with this belief.
Megas, (and I, as well), is satisfied to let OhBull
collect the legal funds. PayPal is a perfectly neutral venue, and as a shareholder effort, it has
nothing to do with Megas and MEgas is not liable for it. Do you not trust OH Bull?
The revocation by the SEC changed the game. Filing would not have made an iota of difference in
our plight. They did not before, nor will they now.
Any donation you are with holding from our legal fund, is pennies compared to the waste of money further
filing would cause, at this juncture.
Megas has come to distrust message boards, and
most of the posters, it would seem, and I have to
concur that most posters here are disrespectful
and downright insulting.
OhBull has his ear, on occasion, and Megas has indicated to me that OhBull is an honorable and
trustworthy person to relay to the less than
respectful posters anything of importance that
transpires.
We are faced with taking legal action or doing
nothing. Megas has indicated he would like
a tokan of support. I have indicated a tokan of
support for legal action is all that we can accomplish here. However, nothing of that support
has materialized beyond $8K, which represents such
a poor showing it is embarassing.
Nobody wants to trust anybody. So be it.
I trust Megas and Oh Bull. I do not trust
the SEC or the DTCC, and I do not respect most
congress persons who have let this SEC preside
over the corruption that is Wall STreet, currently.
And I am most dismayed by the degree of doubt
exhibted by many posters on this board, toward Megas,
Oh Bull, and our attempts to gain legal traction
among the shareholders of phantom shares generated
by corrupt brokers and their friends at the SEC
and DTCC.
You're lack of empathy for Megas astounds me.
Can't you imagine what it has been like to be in\
his shoes these 5 years? Can't you imagine the degree of disgust and distain for the SEC and its
demands?
Not to mention the doubting Thomases among the shareholders.
I think the exhibited degree of enthusiam for legal counsel
from shareholders might have some relationship
to why Megas is quiet, and why I am quieting.
I have donated. I await others. Neither I, nor,
apparently, Megas, should carry this alone.
Molson, what is going on is that we are gathering
funds for an attempt at a legal assessment of our
situation vis a vis the brokers and DTCC.
It is taking a long time for 1100 shareholders to
give $100 as a followup on their investment. There is a trust issue, I guess, although I fail to understand that, since the DTCC and SEC have been
implicated in far worse crimes or neglect or
failure of oversight than in our case.
With Goldman Sachs running the government, the
wheels of justice are mired in K Street muck.
When we see Wall Street cleaned up, then we will
see a decent fair market. Meanwhile, if a top
lawyer like Attaway thinks we have a shot, I will
go with it. Otherwise, we'd be throwing more money
after bad, along with Megas.
BCIT deserves better, but we won't get it bitching
at Megas. And obviously, our elected officials
are unaware that the SEC is not a body to consult
regarding fairness. Sad state of affairs in our
country. NO electric representative dares cut
programs that are bankrupting the country. We can't
afford social security or medicare or medicaid.
Lots of folks depending on those programs are
hurting the country. Tell them to save for their
retirement, and you get nowhere.
2lATE, I appreciate your posts, and agree with most
all you say. I feel we are walking in GLUE the
DTCC has laid down for us, and Megas, accustomed
by now to the glue, is taking his time, and
saving a large part of his energy and life for
business. I do believe, however, we shall prevail
and rejoice.
Meanwhile, I am busy also, elsewhere. And my money
is safely going into my own business, not to some
crooked broker's hands.
OP, If this special agent is a patriot, tell him
BCIT case is poster child for small business
getting killed by Wall Street shenanigans, and that
with a little help BCIT could help put the bad guys
in prison. GOOD luck. Keep us informed.