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I can't think of a single positive thing he has done since that infamous DTC meeting from 14 months ago.
Here's a summary:
1) Writes an almost useless letter to a WSJ editor (which will never see the light of the investing community/general public).
2) Sends the idiotic "wanker" email to Kyle Burns
3) Issues a slanderous press release
4) AND most importantly refuses to spend (or perhaps waste)any $ to get the company current.
Could somebody please remind me of a single construction thing that our CEO has done since the meeting with the DTC? That's when things got hopeless apparently.
Sorry to be a "negative nancy" here (which I'm sure I must sound like to some), but I'm trying to be realistic. I'm just searching for truth. At this point I can't imagine any outcome other than a cheesy buyout/settlement or even worse; a simple refund. It sucks, I agree.
I'm all ears to what anybody has to say, so lay it on me. This is what discussion boards are for, right?
To think I actually used to trust this man.
WOW. (what the dickens was I even thinking)
Something is not adding up.
I gotta wonder what his real working email address is. I truly doubt it's tpm14@hotmail.com anymore. I've sent him 3 polite (but to the point) emails since the revocation notice. I imagine he has received hundreds. I'm starting to consider dialing his London phone number...lol.
Are you certain the SEC's timing was just a coincidence? I'm beginning to suspect that it wasn't -that it was in direct response to the 10/6 press release. Difficult to prove either way. It really made sense for them to do that since it became a very convenient way to sweep this whole mess under the carpet, and by doing so they avoid scrutiny from the SFC and investing public in general. Megas may now understand what he is up against and has finally decided getting this trading again is futile. Anybody agree?
What bothers ME the most is the lack of communication. Does he have a new plan or not???
Sounds fine to me ohbull, but you haven't told us what this is suppose to specifically accomplish.
Exactly. And absolutely NOTHING has been accomplished.
I don't know who or what to believe at this point. We are getting ZERO communication.
100% agree.
I would like to know what his other options are. The only one I can think of is moving to a new exchange out of the corrupt USA.
And you got to consider that it was HE holding us hostage the last few years (considering where we are now). If he stuck a fork in this years ago, we would be at least been able to enter arbitration. We probably would have settled by now too (whatever that amount may be).
"Time is on BCIT's side".
Yeah, my azz it is. LOL
I agree with this post 100%. This dead-on accurate.
Can you use a check card if you do it that way?
That is Wall Street's take on it, not us little fish.
Lots of info about him here:
http://en.wikipedia.org/wiki/Harry_Markopolos
No contact info though. Doesn't say where his office is right now, but I get the feeling he is highly sought after and also very expensive. Worth a shot as he may offer a little advice.
He now works, with a certain degree of anonymity, as a forensic accounting analyst for attorneys who sue companies under the False Claims Act and other statutes, [7] focusing on tips which lead to continuing investigations into medical billing, Internal Revenue Service, and United States Department of Defense frauds,[8] where a whistleblower would be compensated.[9]
Hmmm... are you sure about that?
Understood, thanks.
Correction: Just reread the responses, and they DID address the "global lock". Sorry about that.
I
just wanted to provide a status update on the investigation. We’ve
interviewed personnel from both the DTCC and the SEC and a problem
still exists that has persisted for some time. The following are
excerpts from the official response from SEC Chairman Schapiro:
·
“After the events with Mr. Pino occurred, BCIT filed certain periodic
reports during 2006 and 2007, but it again became delinquent in its
public filings after December 2007 and is currently delinquent. As a
result, there is no current information available to prospective buyers
of BCIT stock as to the company’s assets or operations, if any exist”.
·
“DTCC has advised the SEC that the global lock remains in effect
because BCIT has no one is acting as the statutorily-required transfer
agent in compliance with federal securities law.”
· “Moreover,
DTCC has not processed BCIT’s June 2008 reverse stock split and name
change, in part because the Financial Industry Regulatory Agency
(“FINRA”) has not recognized that corporate action.”
In a
follow-up interview with DTCC personnel, they conveyed the same
position regarding the failure to keep the filings up to date. This
information has been forwarded to Mr. Megas for comment.
I still think that the DTCC is avoiding the true reason of the Global Lock, and is just making excuses to get the SFC off their backs.
You said something to the effect of: if Megas get's the company's filings up to date we should be good to go. That of course implying that the global lock does not exist anymore. Personally, I still think it does and that DTC was just giving Burns the run-around. The term "global lock" was left out of their response with good reason, and pointing the figure back at Megas was their scapegoat.
And if they still say...
"Nope. Sorry. There's a global lock this stock. We're not clearing it"
What's BCIT/Energy source to do?
Great post Arkait. Been mulling things over and I'm about to send Mr. Burns my thoughts. Complaining here on the internet gets us nowhere.
Yes, there is still hope.
"Or maybe Burns will acknowledge the overriding virtue of the TRUTH behind Megas' patronizing bluster and prove himself the better man."
I, myself, am on the edge of my seat waiting to hear what Burns says next.
That was the DTCC's answer, not the SFC's. I believe the DTCC really told him that. I also think that our Mr. Burns is too blunt to recognize that excuse as just a scapegoat.
I would guess he thinks his shot has already been blown. In past communications (I can't remember from what exactly)he mentioned that the he is under the belief that our Senators have been "bought out" by the DTCC, or something to that effect. Either way, I am livid he had to resort to writing that. I will remain quiet until I know what happens next.
Looking on the bright side, with this whole SFC thing and the written statements they have gathered from the SEC & DTC, I can see that this whole denial/scapegoat tactic could seriously work against them in a court of law. Lying to the Senate is serious business, is it not?
Dumb or just plain desperate? I don't like the sound of it at all. So I guess were back to the lawsuit strategy now. Very disappointing!
Did he tell you the same thing he told Arkait?
"BCIT made a deal with the counterfeiters. "
BCIT did NOT make any deal with the counterfeiters. There is absolutely no proof of this.
LOL
Why are you making this up??
Lol... that's alot of "maybe's" from somebody who is so certain of where this situation is headed. I think you are imagining things.
As far as contacting the SFC, I don't expect to get any detailed information just like they didn't tell you anything. I think we will all now where this is headed within the next month or so.
How are you certain what this "we are satisfied" means? It sounds like you assume they are in agreement that BCIT should remain under Global Lock and never be allowed to trade again. Have they told you that?
I do believe that they have received the answer from the SEC, but how are you sure that the DTCC has answered as well? Could it be possible that the answer(s) that the SFC has received was "BCIT still under investigation"?
Well I don't know why I'm wasting any time/energy arguing with you Moneymade, especially when this has been argued to end a several hundred times here. That email was before anybody really knew what was going on. He did the right thing by going to the authorities and settling those Pino shares through the OK lawsuit. That was no backroom deal.
Do you really think trash talking Megas on the internet is going to get us anywhere? He could give a flying 'f' what we think at this point... LOL.
WASTE OF TIME!
YAWN.... much ado about nothin'
"Do you relly beliave this fantacy"
Do you have a more logical explanation?
PS: You misspelled 3 words in a 6 word sentence. You ok?
Did the possible new lawsuit w/ Attaway fall through?
It happens way too much on this board. I agree.
Yup, the brokers had the opportunity to stop the sales of BCIT shares at any point, yet refused to do so in their OWN reckless manner. I have to wonder what was said in behind the scenes phone conversions between the DTCC and the brokers at that time. Maybe the DTCC was saying "Keep selling, keep selling! This situation will never be rectified! We will win!!!".
That of course was hugely contradictory to the memo they decided to put out on 8/16, although it took the brokers nearly 2 weeks to react to it. Hmmmm...lol.
http://www.dtc.org/impNtc/ope/ope_8418.pdf
I'm praying that this will happen.
If this "never trades again" like you are suggesting, the brokers will still have to make good on our shares. What makes you think they can easily steal our money and give us nothing in return. Not going to happen.