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Need to get Jerry to reduce AS by 40% as he has stated in PR and financials update in last 6 months for this to get mojo with current revenue growth trend.
He has to put up on the stock reduction. BGNN would go to penny then, IMO.
Another area is to increase distribution channels and make them more competitive with good profit margin. IMO, Ivestor is right here that BGNN cannot undercut distribution pricing. Most grocery chains want minimum 50% margin on cost before they carry. Could vary pending ability to make product a lost leader. But demand is not there yet, like soft drinks and milk.
Reduction has not happened yet as it was in latest update from Mahoney on his list to do.
the point is the deal was made with Pino(authorities knew about it), and IMO, that is why DTCC told Megas to clean up his mess including the expletive deleted moment by Sytner. and IMO because he delayed reporting to the DTCC/SEC that caused 250 million shares(backed by bogus certs) to be traded up thru mid-June 2005. Then it took til August 2005 for Megas to issue a PR(almost 45 days). And of course the dragging of feet by the SEC to halt the trading of BCIT to minimize damage done in the market by these bogus shares.
There seemed to be no urgency by Megas then(including the SEC/DTCC) to resolve issue, and thus no urgency 5+ years later.
Most of the info I have posted in the past is from Megas thru Masta regarding when Megas went to proper authorities to report the identity theft. From responses masta provided, it took Megas from the initial trading day of BCIT in early May(2nd) 2005 I believe to mid June(approx. 40 days) before he reported identity theft to SEC/DTCC. Early May was when Carter Care was announced to takeover the shell thru Pino/Pammy. Sytner reportedly was contacted by Megas to investigate. Meeting was setup with Megas/Sytner and Pino when backdoor deal for $2 million was reportedly made, of which Megas received $50,000 deposit.
When trading volume increased to about 250 million shares for the first 40 days, then Megas realized Pino had no intentions of buying the shell or was going to use the money he sold the bogus shares for to pay Megas for BCIT, then Megas decided to report to SEC/DTCC. At this time approximateyly 250 million shares had traded thru the market system. From what I can recall, Megas/Sytner considered this 250 million shares requested by DTCC to be a shake down by the DTCC because it was DTCCs fault that the bogus shares were allowed in the market to begin with. This is where DTCC and Sytner supposedly had words and DTCC basically told BCIT to clean up the mess on their own. Thus the 'fake' shareholder lawsuit. BCIT continued to trade based on forged shares in the market and by September the shares traded on BCIT was over 2 billion. Megas had still not cleaned up the mess and the SEC stepped in and halted trading.
Somewhere in here, masta stated that Megas was told by DTCC to make deal with Pino for the $2 million. First time in five years I have heard of this and that is something new to the story. Unless I missed something somewhere.
The problem here is the beginning of the timeline is incomplete and thus not accurate it only tells partial story. IMO, partial truth is still a whole lie. What I am saying is based on what Masta revealed in posts on this board thru Megas. So, it is not directly from Megas himself. Thus the problem of discovering what really happened here is on the CEOs shoulders and he is not talking. Until the timeline is completed, IMO, this issue will not get resolved, and it appears from lack of communication from Megas, he really does not care.
IMO, his delay, due to poor advice from legal counsel possibly or whatever justification he wants to fabricate, of handling this matter in the early stages has resulted in why BCIT is in the current state today - revoked and not trading five+ years later.
IMO, this is a huge task and noone will step up and do the right thing with the shareholders and reimburse them, ie DTCC and stockbrokers specifically.
The web site does not tell the whole truth. Too many gaps, IMO especially with activities from May to July.
Molson:
While I agree DTCC started the problem, the CEO is IMO culpable for delaying the reporting of the identity theft to the SEC. This is where Pino had time to get additional forged certificates into the market because of the back room deal Megas reportedly made with Pino for $2 million. Now Masta is saying that the DTCC/SEC told Megas to make the deal, first time in 5 plus years I have heard this on this board. The delay to report to the SEC and their delaying it trading contributed also and compounded the bookkeeping.
But trying to take a complete unbiased look at the picture, it was the additional shares whether naked shorted or not that occurred til the BCIT trading stoppage by the SEC. Complete chaos on BCIT trading legal shares was compromised and IMO DTCC was wanting Megas to be responsible for the shares above the 240 million they were to account for. In my estimates by the trade stoppage of September 2005 by SEC, over 2 billion shares have exchanged hands. A far cry from the original 4 million BCIT had approval for in April of 2005.
Hopefully, you have read my posts here and it is in the meeting with Megas/Sytner and DTCC where the truth really lies and the CEO is not talking. This is when Sytner had his reported explitive deleted moment with the DTCC. IMO, Megas, because of the delay in reporting, is as much responsible for the current state of BCIT in a delisted non-trading state.
And Megas isn't talking.
The problem is BCIT has a CEO that feels that he is accountable to noone. He had the ear of the SFC, and when the questions got too close, IMO, he wrote what is known as the wanker letter to the SFC. When he and Sytner had the ear of the DTCC, again they shot down the DTCC, because they felt it wasn't their fault they delayed reporting the incident that caused billions of shares to enter the market(of course the delay by SEC of halting trade of BCIT didn't help either). Yes DTCC made a mistake, but the problem got compounded with delay of the reporting of the BCIT identity theft.
Now it is reported he was told to make the deal with PINO. Too many unanswered questions, and Megas isn't talking.
In my understanding this is not a reverse split. This is a good thing for shareholders. Please read the report again before instilling fear on this board about something you do not understand.
With Israel surrounded by their enemies, one would think this would be poppin' big time, and soon.
This board has gone this route many times. Please contact the TA to get the facts before posting that is all you can figure out. Then once you get an answer, then post. TA will give you an answer.
This is the kind of remarks that without facts can create anxiety on boards.
Thank you
BGNN by historical trends has never been a volume stock on a day to day basis. Everybody is saying look at the charts. Well has anyone taken the time to look at the charts over the last two years. It is very simple to do and you will see the spikes.
BGNN is a start up company and people on this board are being ridiculous to think they can trade this like a Microsoft or an Oracle or a regular OTC stock.
This is typical of new market company and people are wanting this to trade like a company that has been in the business for years.
I would like for people to get off their emotional high horse and let this company work thru issues that startup companies and CEOs deal with on a day to day basis. Only thing traders of this stock have to deal with is whether to buy or sell BGNN stock.
The CEO has to deal with contracts and distribution channels and manufacturing and shipping. and customer service and support. And you know some mistakes will be made along the way.
Just settle down and know the products are real and they work and the rest will fall in place in time. Too many people on this board are wanting to get rich over night here.
I have been saying this for almost two years now, 'Patience is the key to success of BGNN'.
nah, color is the same - green(economy and wallet) with a spattering of red from time to time - happens in all. There are no stocks that I know of that haven't experienced both shades. Some green more than others - and believing JM has the same color focus of green. However, patience is the key here because products are real and they work.
I think we all need good investment these days, and certainly everyone has their own opinion, thus the need to do own due diligence. I have been here for over two years and have done well watching this bounce erratically. If you are a day trader, and want to play the bounces, BGNN is good for that periodically. I recommend looking at the charts. You need to understand this on this board as you do not know me or others. Case in point: I am ahead here and playing with free shares now. Others bought in at higher price on the mojo last year and got stiffed, so they are not happy. Others seem to have some personal experience with the CEO or previous companies the CEO managed. So you will get a variety of opinion from multiple personalities here.
If you are new to pinky land, you better have money you can afford to lose. By looking at charts, you will see over the last year BGNN hit high of .0054, but has dropped down to .0004. Big swing especially if you feel you got stuck at .0054 and could not get out. Your personality should dictate how you invest for a long term and/or trade daily/short term. What can you afford to lose?
Interesting is good,but you need to know how to discern fact from fiction. People on this board have called me many names and posted lies about me when they do not even know me. You need to be thick skinned as well, and flow with the punches. IMO, BGNN will do me well. When I cannot tell. I am not like Biff in "Back to the Future" that had a book giving him all the sports winners and stock picks. But I am a straight shooter and will be truthful. Of course some on this board will tell you different.
It is up to you to determine when to get in and when to get out.
BGNN is a stock that requires patience. If you do not have that, then stay away from BGNN. Buyer beware, but if you can take the highs and lows, then BGNN should work fine. If you didn't buy at .002, the price is now .0024. your call, but at noon time tomorrow, it may be .002 again. Got to know the cycles of day traders as well.
Best of success to you
day traders are selling now. should be botton in a few minutes then it will pick up again
Poker:
This PR was almost as if JM read my post(17784) last week. Apparently we must have said enough good things to receive this PR and a great boost to efforts of BGNN.
While Q4 numbers are important, the real issue is the strength of the distribution channel that JM can leverage, and then ability to service that distribution channel. If this does not happen, BGNN will not become a leader in the green industry.
One cannot make up the user testimonials and service satisfaction. BGNN must focus on this to maintain a steady and profitable business for the 'long' term.
Thank you JM for the effort that is not seen being performed behind the scenes by those on this board and truly invested for the long term.
Again, patience is the key word here, but wisdom is also important, so some profit taking is not a bad thing.
Thanks for staying strong Poker. Patience with BGNN will pay off. BGNN has green product and it works!
It takes time to develop the distribution channel.
There will obvious always be naysayers on any board. That is what makes the world go round.
IMO, it should be
hmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm!
1 'm' for every month BCIT/Energy Source has not traded. could almost be the same for the number of months that TM has not communicated with the 'fake' shareholders.
trend for bgnn has been late February, early March. IMO, JM has been trying to get the distribution channels in place to get the sales machine going.
while bgnn is no microsoft and jm is no bill gates, the key to microsoft success was the sales distribution channel. the products work.
the other issue where some work will be needed is the service area.
current products require little to no maintenance, except replacement over time due to wear - more wear probably on ecopads. product expansion to more consumable green products like the trash bags are needed to create recurring revenue stream. This is where sales effort should be focused.
Again, IMO, the DTCC should accept some financial responsibility for starting the mess without performing due diligence on Pammy and the forged shares. This was a gift that Megas had given to him and he basically with his confidants screwed the deal by the delay in reporting to the SEC and instead pursued making a backroom deal with Pino for his own perceived best interest. Then because he made a poor decision was left with a decision to sue the 'fake' shareholders because of how him and Sytner trashed the meeting with the DTCC. The pro-Megasites on this board say the DTCC tried to extort Megas. IMO, the DTCC wanted to share the responsibility with Megas of correcting this mess because of the time lag of Megas reporting the crime. That's when Sytner supposedly told off the DTCC. Yes, Megas has had poor counsel from the beginning on how to deal with this disaster. He definitely got what he paid for.
I understand now. Others on this board may not but it doesn't matter now anyway. True, BCIT is not a laughing matter.
Crimes beyond ones comprehension have been committed in the stock market by the DTCC and who all else we do not know, while the SEC, brokers, and SFC just let the investors whom they are supposed to protect hang. IMO, DTCC, for the wrong they did, should at least make it right with the investors, and let BCIT/Megas figure the rest out.
Have a great day.
IMO, Tom Megas should rate the same as Bernie Madoff. But from the feedback from his supporters, he really does not care anymore especially about the 'fake' shareholders. If Tom would have worked with the 'fake' shareholders from the beginning instead of suing them, this mess may have been resolved by now.
BGNN has great potential. It has real product. You are getting info from a disgruntled poster that has published nothing but negative since posting here. Only bases info on their opinion, not facts. It is important to understand the background of posters.
As always, while it is good to get feedback from posters on this board, you still need to do your own due diligence.
There is no statement from BGNN that has officially reported what you believe. It is a complete fabrication of your mind. You still refuse to deal with facts, and mislead and report untrue information to people on this board.
I guess you missed the initial meeting notes in 2005! How 'soon' we forget!
Quit being so coy masta.
IMO realwood, one needs to be more specific by requesting to specify the exact year that Christmas occurs. It certainly didn't happen in Christmas of 2010 as we were led to believe.
Have you watched Glenn Beck lately, discussing how the elite want to keep the dumb people(ie. herd) in the corral? Beginning to sound familiar here when people ask questions. Shareholders are just too dumb to understand what we are up against.
Ever feel like Jack Nicholson speaking to you? " You can't handle the truth."
IMO, neither side has been truthful with the shareholders here: TM/Sytner or DTCC/SEC/Brokers.
Somebody's got to clean up this mess that has been going on for almost six years now. Any news about anything regarding the status of BCIT is welcome from offical spokespeople from SEC, DTCC, brokers, and even from Megas(not his accomplices).
Something to be published soon, kruy?
Not necessarily so, but this is good news as I stated when this was originally announced that it did not make business sense. Also, I have forward the company some information regarding assistance in marketing and sales last week with green technology companies. I am hopeful that Mahoney will at least research info as it can't hurt from known published activity to date by BGNN.
dirkie: you can remove yourself. You do not need to ask to be removed.
You mean the "counsel of fools" that TM has surrounded himself with? As some are finally reaching an understanding about TM remarks made a few years ago as to "Time is his friend". The bottom line is, there will be a judgement day for all(ie. DTCC, SEC, brokerages, TM, Sytner, Pino, Pammy, etc) involved with BCIT fiasco in "TIME". The truth will be exposed, someday.
It really becomes a matter of "who" is doing the judging.
Don't you think if Megas had ethics, BCIT would not have been placed in this position to begin with? He would have checked out Pino and reported him sooner to proper authorities.
American Environmental Energy Wins Civil Fraud Judgment in Excess of $10 Million
With judgment and market conditions for energy sources, now may be a good time to consider AEEI again.
Based on what, your opinion based on others opinion?
IMO, the next upswing in BGNN probably won't happen til early March/April 2011, based on factual historical trends. This, IMO, is based on certain factors of which the economic climate has changed for investors favor this year due to the extended tax legislation.
Facts are BGNN has real product and is actively selling and generating income. We may not agree with method CEO is using at this time, but it is happening. The trend in the US economy is "GREEN".
Facts are people will be getting tax refunds this year(March/April) and looking to invest in green technology companies.
JM has to increase sales efforts and provide a playing field where partners can make a profit. Market is hot now for the products BGNN has.
The time to move is now.
JM also needs reduce shares as he PRd now! And PR it when he does!
blade:
does anyone know what is to happen with the restricted shares?
Then why do people on this board make it sound like if the fund does not come up with the $20,000, that Megas is going to do nothing? That has always been the impression I have gotten about the fund.
And at this point in time the fund has not received its goal and Megas has done nothing except get BCIT revoked from trading, if that is considered something.
Coincidence?
I disagree. As CEO, his naivity took him in and his attitude towards the 'fake' shareholders is part of the problem. His stubborn attitude and wanting to do things his way has proven to be wrong for all. Now he is looking for us to contribute to a fund and help out? Where was this working together atttitude 5 years ago?
Something does not smell right here masta, and the CEO had and has the fiduciary responsibility to get this corrected. But Megas isn't talking.
Ivestor:
As assistant moderator, I am requesting that you please refrain from posting inaccurate or misleading information regarding BGNN.
BGNN has not closed at .0001.
Again you are wrong. I remember buying in at .0004
The facts are the DTCC allowed Pino/Pammy to slip the bogus shares into the market. Thus DTCC is at this time fully responsible and liable. However, what people fail to recognize here is that when Megas discovered the hijacking in early May, he decided to work a back room deal with Pino for $2 million. IMO, this was before he may have realized what damage had been done by Pino. In other words he did not do proper due diligence on Pino/Pammy. He may have innocently been taken in by Pino with the deal and expected payment, possibly not recognizing how Pino had taken over the company.
This is where I find that Megas failed to perform his fiduciary responsibility to BCIT shareholders. While he may have been innocent or naive of Pino, Megas should have kept Sytner or somebody watching the trading activity of BCIT. When trading activity exceeded the number of BCIT allowable shares(Apprx. 4 million), is when Megas needed to approach the DTCC/SEC. But from my estimates of following the timeline, it took Megas 40 days before he finally reported the identity theft to the proper authorities. IMO, this is when Megas realized Pino was not going to pay him any more than what he had already received from Pino. Which in that 40 days over 200 million shares were traded. So the market was trading shares backed by forged certificates for almost 40 days. Some say that DTCC tried to extort shares from Megas. It was this time when Sytner had his expletive deleted moment with the DTCC. So there may be some sour grapes with DTCC over the exchange/verbal abuse by Sytner. But when I look at the timeline, I can see how the delay of knowing and reporting attributed to the fiasco with BCIT, thus I have to ask - did the DTCC have the right to hold Megas responsible for replacing shares for that period of time? ie I think it may have been an additional 250 million shares, but could be wrong here. Remember I stated earlier that approx. 200 million shares traded hands in the 40 day period when Megas discovered and reported to SEC. As I stated I think it was an additional 250 million shares the DTCC asked for from Megas and approx 200 million shares traded in that 40 day window, but some say this was extortion by the DTCC.
Then to compound the problem was the delay by the SEC on halting the trading activity of BCIT. Megas published PR in early August, but halt was not executed til September where by then over 2 billion shares exchanged hands in the open market. Remember that these shares were backed by the DTCC with forged Pino shares. The lawsuit by Megas IMO was an attempt to remove the forged shares from the market. These were the certs given out by Pino to his friends or whoever performed work for BCIT during the Carter merge attempt. Those involved or innocently received those certs from Pino may have deposited them into their broker accounts, which may explain why possibly a few people may have had shares removed by brokers.
In summary this is my opinion of what may have transpired that has BCIT revoked and a non-trading company today. But Megas isn't talking.