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.
I do not see how Megas is responsible for the brokers who injected phantom fake shares into
the market, and sold them, and took the money. Megas and our company never saw a dime of the shares thus sold.So how is
he responsible for that money he never received?
The bulk of these shares were sold long after Megas
warned about fake shares being in the system.
These shares have never been covered by Megas OR by
the perpertrators/brokers. I don't know how you got the impression they have been covered.
also, 2Late, enjoy your legal supposition/scenario.
Strange that the filing issue didn't "come up" until
the SEC was fielding about for a way to stop Megas.
How many stocks get revoked for delinquent filings?
I"d put that one to Janice, but I have my guess...
very few. I think BCIT gets singled out for "special
attention" due to the NSS issue.
Yeah, Molson. I'd forgotten that one, thanks.
It was a sorta "put in any junk you can think of
to deflect senate interest" play. Hopefully it will
hot look good if Attaway uses it correctly. Another
instance of sloppy, lazy thinking.
Thanks, OhBull, for the update. The wheels of justice go slowly, so slowly we have mutaneers
aboard these moldly planks.
Donate to the legal fund. Show you give a darn.
GO ENERGY SOURCE
Pope, the fund is for shareholders legal assistance.
It has nothing to do with or against Megas. If you
don't trust OhBull to find a decent lawyer to give us
decent advice, then go find another lawyer by yourself. See how well that works.
Turn2Him, I have no intention of supporting a lawsuit against Megas. My support is for getting a\
lawyer to unravel our options against our brokers
and the DTCC. I cannot comment without legal advice,
at this point. And I cannot afford to obtain legal advice without help from other shareholders.
Turn2Him. Megas never reported defeat. You read into thing far too much. The issue with DTCC has not been resolved.
As for Megas talking to "shareholders", my opinion is
that exposes him to further abuse than is already\
evident on this board. Not desirable, imho.
We are NOT his shareholders. We are the brokers duped
"shareholders". Can't you understand this. Megas
never pocketed a dime from us, nor has he, therefore,
any responsibility to us. Whatever he does, he does
for himself, at this point.
And that leaves us to tackle legal problems with our
brokers and DTCC by OURSELVES. And with our own funds.
If you don't like it, it's not Megas' fault.
Have you donated to the orphaned shareholder legal fund, yet? Without legal representation, you have
no chance of even retrieving your original investment, much less damages, imho.
Megas CHOSE NOT TO FILE, because it would have been
good money after bad. You want to pay for the filings costs? If you can't even pay to get legal
defense for yourself, I doubt you could afford another futile filing.
Turn2Him, I find it hard to believe you do not
have .00032% of your investment to fund legal
help for us shareholders.
Megas may have made mistakes, but they are small
mistakes compared to getting shafted by DTCC and brokers.
Bull is willing to organize a shareholder lawsuit, but nobody is supporting him at this time.
So, a lot of talk, and no action, as I see it.
ItsMikie,
I'm sorry, I don't understand your post, even with
trying to correct obvious spelling an grammatical
mistakes. Please repost .
Darn, Turn2, the SEC's little hardball letter came
AFTER, the PR, and changed everything. It was like a punch in the stomach (after several over 4 years)
to anyone considering getting this trading.
The only recourse is 1) Megas minds his REAL businesses, and puts his capital THERE and survives,
personally. or 2)
IF the shareholders who bought the brokers air shares
want help, they are going to have to show ability to
help themselves (ie lawyer up),at which point Megas
will probably assist. But Megas is not going to go it alone, anymore, against a corrupt America market,
wherein he has no representative in Congress to
help him champion the cause of some 1100 shareholders
most of whom attack him but do nothing to help themselves legally, and who have no weight to get
Congress to look behind the curtain at the SEC or
DTCC.
Saying TMeg is a picture of ineptness is unfair
and unkind. You try going up against the Federal
Reserve and the big banks. This entire nation of
beleaguered taxpayers can't get a Fed audit , so
what does that imply? Jeeze.
Sounds like a good idea to me, F1. I could do by
March (winters are tight for me, plus I am in debt
with credit cards and mortgage, etc).
F1fans. After a point, if there are only 20
contributors , we could all contribute a little more
and probably go it alone, without the 1800 other
shareholders who expect Megas to be a miracle worker
for them. Or who expect the 20 of us to take care of
all of them.
Op, I think Megas has business in mind, not this
legal nightmare. He is probably less than thrilled
by how BCIT has been treated, and it is likely like
a cracked molar ...something one ignores until it
hurts like heck.
Or perhaps, once he gets his other business going (
we are in a recovery, after all, nothing speedy)
he might figure how to get BCIT justice via the
new business.
But, as shareholders, we need a lawyer, or we get
nada, imho. And if 1100 folks don't have a pittance
to put toward legal advice, well, what can be said?
Good, Molson. About time. Care to let me know if
you donated .00032 % per share held, or more?
(i was going to donate .00032 cents per share, but
the overall response (donations) were so low, I decided to donate more (.0018655 cents per share).
about 1,100 shareholders donating just $100: IMAGINE ! We'd have an eighth of what the company
has already spent on filings and legal countering.
Is that too much to ask of orphaned shareholders?
Is that too much to ask of Americans, who should be
angry at the Federal Reserve and their offshoot,
the non-transparent, crooked, DTCC?
Better spend money on lawyer than on SEC filings.
just like BURNS, you don't get it. The filings are
irrelevant. This is hardball, and the filings are
just a way to goad the bull to exhaustion. Megas is
not fallin for it. It's HIS money, after all, and
a lot of it. And since the records are frozen in time in Oklahoma, Megas has leisure to decide if, how and when he may counter attack.
Meanwhile, as a shareholder, I would like to go a separate route and enourage enough shareholder participation to create a legal fund and engage a
lawyer. Waiting for that to happen.
But the slowness
of shareholders to go this legal route is slower than
Megas. It's beyond patience when shareholders won't
contribute anything for their own defense, imho.
OP, it is not Megas fault we bought airshares,
and the brokers took our money. Megas never saw a
penny of our money. Why should be he responsible for
our loss. He himself has suffered losses on this
fiasco/theft. Brokers want to blame him, DTC and SEC want to show him delinquent (or whatever will stick).
the way I see it, we need legal help. If we don't
achieve enough funds to get legal help, then we
can complain verbally to the hills. Nobody will
rush in to help or save us.
If Megas does not contribute to the legal fund, it\
may be because he sees the shareholders are not
interested in defending themselves , so why should he
bother defending us further than he already has tried to do.
We have the effing Federal Reserve against us.
Nothing short of legal help will budge this impasse with the DTCC, imho. There is too much money at stake for the Global Lock to be lifted. Nothing will pry that lock open except a lawsuit, imho.
And the shareholders, in majority, don't want to
pay for a lawsuit. So ...... nothing is going to happen, consequently, unless some other company\
manages to bring a lawsuit against DTCC (and I sure hope they do).
Op, this attack on Megas is just silly. You should
await further communication from Megas with patience,
because the DTCC has all the patience in the world
and we have to match that.
I agree, Megas always responds to any email I send
that has pertinence to advancing our cause.
But after a PR and numerous emails insisting he has
not abandoned getting justice for BCIT, I can under-
stand his not wanting to repeat himself.
Why he allowed the revocation? I am guessing that
he thought filing was not the issue, and refused to
spend more money on it, until the NSS is satisfactorily addressed. That makes sense to me.
Good for you, Dusty. I have encouragement that
Megas thinks our legal funds are useful. But the
word "prudent" seems strange. Can you elaborate?
I have never communicated with
Sytner, have no idea what to think of his "behavior"
of indifference and impatience with the BCIT mess.
Sorry can't help you there. I am not interested in
getting wealthy with BCIT, at this point, all I want
is to contribute to cleaning up our markets a little
and shining some needed light on the dirt in the
system, ie. the DTCC and the Federal Reserve and the
business friends of same who profit from the little
guy's getting taken.
I don't think Sytner shares my interest in this\
American problem, so I have little to say about him.
C has, Your posts are heartening. Good to know you
feel strongly about the wrong suffered by our company and shareholders. Keep us posted on any good news, please.
There is no legal fund, unless you want to call about$7K a legal fund = that's about six dollars
per 1100 shareholders. Pathetic. Lots of talk, no
money where the mouth is from most of these longs,
who don't want to trouble their piggy banks for
the sake of demanding justice in a court of law.
Maybe, as Chas says, justice will come to us via the
backdoor , but at this rate, it won't be by the
shareholders' efforts.
anyway, I await legal advice, which I would like to
receive, but can't afford by myself,.
Nwsen, I am not personally in touch with Attaway,
but I gave $600 toward a retainer that I understood
would provide Attaway enough funds to give me and
others who contributed to the retainer, some idea
of strategy, and if viable,to commence a lawsuit wherein Attaway
would work on contingency, or else bigger bucks than mine would have to be contributed. But we have not even gotten to the retainer, yet. So one step at
a time.
Nswen, one day's ad in Times would cost a lot and
no guarantees anybody bothers to do anything.
A lawyer, on the other hand, produces an opinion
about what kind of attack we might make and get
ON THE RECORD, exactly what is in the DTCC records
and what the brokers' records show. I have had good
luck with lawyers, so long as their charges are
agreed upon beforehand (and who is going to pay these charges). If no lawyer is willing to take us
on contingency, I might go back to hammaring at my Senator, as a cheaper source of action.
Op, that would be a lawyer, and that is what we are
awaiting, imho. Nothing short of a lawyer would
get any attention from the brokers, SEC or DTCC,
at this juncture.
Those, like Burns, looking at BCIT, seem to miss the fact that it is a non-earning shell precisely
because it got all screwed up 4 years ago, when
there were prospects for a business that got side-tracked into a legal nightmare. So they don't take
BCIT seriously enough to try and get a DTCC audit.
Heck, even Ron Paul is having uphill battle to audit
the Fed. Just one example of mis-used power of these agencies and corporations that have taken hold of GOVERNMENT functions.
Ah well. I will hope to keep fighting, as soon as we can afford a shareholder lawyer.
Waiting.
NWSEN, Find a Senator that realizes the filings are NOT THE ISSUE , BUT JUST A WAY TO BLEED US OF FUNDS\
INDEFINITELY. What further funds are spent on BCIT
should be spent on a smart lawyer, who seems the
filings are the red herring, not the cause of our
impasse with the SEC and DTCC.
wITH YA, THERE, MIKIE. THE PAY PAL FUND IS FOR LEGAL
ATTACK, NOT TO BE WASTED ON REPETITIVE PRS.
itsmikie Date: Monday, December 14, 2009 12:04:34 PM
In reply to: 2late who wrote msg# 128242 Post # of 128320
To Anyone and Everyone, You too OB... Any use of those fund for a PR will be cause for Breach of Contract, and a Lawsuit would/will be vialbe... I Personally, will do it.
Stop insulting our CEO. If you don't like what is
happening, get yourself a lawyer, is my advice, but
don't take out on Megas what is a legal problem
with the DTCC and SEC running the show.
Don't you have a government representative to contact?
Try doing something on your own, rather than
lambasting the company.
Megas is a man of few words. But he has indicated the DTCC as protecting brokers who are responsible for a lot of naked shorted shares, and what he
intends to do to fight this I don't know, but
if he told OP that he has not given up, that's good enough for me, because my congress critter is\
not up to the fight (busy, stupidly, like Burns,
hangs on the SEC's every word, etc).
We need Overstock to win big in a court battle, or
we need the likes of Markopolos to take on the issue.
Meanwhile, we have records frozen in time that I
trust and hope will eventually come before an impartial judge.
I wish Overstock success. As far as I can see,
all this bluster about Overstock waging too expensive lawsuits, forcing settlements , is bs, imho.
I don't want my funds used for a PR, in the situation that is patently clear to me, and needs no
bedtime story pr to further clarify.
I want my funds donated to the legal fund to be used to hire a first rate lawyer, whose advice I will follow.
My take is Megas is 1) preoccupied with real business, not legal squabbles with DTC and SEC
2) was unpleasantly surprised the OMX did not present an alternative to DTCC, and that the SEC
insisted on filings without giving any reason why
their timing was so abrupt (probably were unhappy that SFC was stirred up)
In summation, when his business allows him the time,
he probably has a regrouping plan emerging, if, as he told OP, he has not given up trying to find justice and cover. We are, meanwhile, stuck, until
our legal fund reaches $20K. I gave $600, and
that's my limit. Meanwhile I am following the press to see more and more complaintants against nss fighting the good fight, and wish we were all
joined in that fight. That Overstock has received two settlements is very encouraging. And Overstock is not finished with their law suit.
That state of our country is so bad, that other issues are taking the limelight away from our cause.
Our congressional reps are very busy with health care, Afghanistan, and the economy and now,
world climate problems. We have to be patient.,
But, at least, our records are frozen in time, and
point to one clear villain: DTC. Sooner or later
we will, I hope, take legal action.
The only advancing news we can control is the
accumulation of enough in the legal fund to get
legal advice how to proceed, as shareholders.
The PR Megas put out did indicate that he welcomed
shareholders participating in legal costs. I
have done so. Awaiting the magic amount, of $20K,
to get a little action, here.
We have a wrong to be made right. No way we will\
get to trade, but we might get a settlement via a
lawyer, imho. So I hope all will contribute at least.00032 per share, or around average of $100 each to at least get united, here.
As for filings, I don't think it would have got us
trading, and would have been sending good money after bad. imho. And the SFC, who obviously
hangs on every word of the SEC, would not audit the
DTCC. We have got to support Ron Paul and Sanders
to get the Fed Reserve, and DTCC audited. Watching
that closely.
GO BCIT/GO ENERGY SOURCE
Yeah, Steve, I think the SEC timing of the revocation was the last straw for Megas' patience.
the filings were never the issue. Trying to pretend
the filings were the issue, was just another way
to bleed Megas financially.
We are watching a bad movie, wherein the SEC and DTC
and Fed Reserve, and friends at Goldman and MOrgan Stanley, et al, are conducting business as usual,
while America sinks into debt and depression.
We are just one of a large number of folks hurt by this. I hope we see justice, but it will not come
much faster than Markopolos's progress, nailing
Madoff. Eight years. Think of it. And there's
more, still to be revealed.
I hope Megas recovers from this nightmare, and maybe
even figures out a way to get even. But I don't
know what to advise. I don't, alone, have resources
to hire lawyers and fight this. It's like fighting city hall, I told Megas.
But I continue to bear witness that it is a crime
against shareholders and against our country, to let
phantom shares be sold and never delivered, for one
crooked reason or another.
Well, chock up another round for the DTC. Fight ain't over yet, as I see it. Shareholders versus
US GOVT regulatory agencies (SEC/DTCC) and complicite
brokers and prime bankers. That's one fight.
shareholder legal fund, once sufficient, will \
go after brokers, likely, with Attaway's help on
contingency. another fight, awaiting joiners.
new task force on consumer protection; attempts to
interest them in our case. a third avenue.
ain't over yet. Or the US market is soon doa from
sheer weight of unaddressed corruption, imho.,
Chas, 2Late, Allez, Masterflash, rah rah GO BCIT
2late, excellent suggestions for the next step
forward. maybe something like that is in megas's
mind, as well. Hopefully. I can't see letting this
slide, and we just get turned off my the global freeze forever. Not justice. Not acceptable.
2late, I like your interpretation, here, very much.
We need Megas on board for this, but I hope it is
the scenario we will see enacted. If so, we will\
need a lawyer to get to the brokers, I'd think.