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RDXM volume today...
RDXM -- something's up?
Bill... does any of this FL law apply...
to our situation?
http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&Search_String=&URL=Ch....
The 2005 Florida Statutes
Title XXXIII
REGULATION OF TRADE, COMMERCE, INVESTMENTS, AND SOLICITATIONS
Chapter 517
SECURITIES TRANSACTIONS
View Entire Chapter
517.211 Remedies available in cases of unlawful sale.--
(1) Every sale made in violation of either s. 517.07 or s. 517.12(1), (4), (5), (9), (11), (13), (16), or (18) may be rescinded at the election of the purchaser, except a sale made in violation of the provisions of s. 517.12(11) relating to a renewal of a branch office registration shall not be subject to this section, and a sale made in violation of the provisions of s. 517.12(13) relating to filing a change of address amendment shall not be subject to this section. Each person making the sale and every director, officer, partner, or agent of or for the seller, if the director, officer, partner, or agent has personally participated or aided in making the sale, is jointly and severally liable to the purchaser in an action for rescission, if the purchaser still owns the security, or for damages, if the purchaser has sold the security. No purchaser otherwise entitled will have the benefit of this subsection who has refused or failed, within 30 days of receipt, to accept an offer made in writing by the seller, if the purchaser has not sold the security, to take back the security in question and to refund the full amount paid by the purchaser or, if the purchaser has sold the security, to pay the purchaser an amount equal to the difference between the amount paid for the security and the amount received by the purchaser on the sale of the security, together, in either case, with interest on the full amount paid for the security by the purchaser at the legal rate, pursuant to s. 55.03, for the period from the date of payment by the purchaser to the date of repayment, less the amount of any income received by the purchaser on the security.
(2) Any person purchasing or selling a security in violation of s. 517.301, and every director, officer, partner, or agent of or for the purchaser or seller, if the director, officer, partner, or agent has personally participated or aided in making the sale or purchase, is jointly and severally liable to the person selling the security to or purchasing the security from such person in an action for rescission, if the plaintiff still owns the security, or for damages, if the plaintiff has sold the security.
(3) In an action for rescission:
(a) A purchaser may recover the consideration paid for the security or investment, plus interest thereon at the legal rate, less the amount of any income received by the purchaser on the security or investment upon tender of the security or investment.
(b) A seller may recover the security upon tender of the consideration paid for the security, plus interest at the legal rate, less the amount of any income received by the defendant on the security.
(4) In an action for damages brought by a purchaser of a security or investment, the plaintiff shall recover an amount equal to the difference between:
(a) The consideration paid for the security or investment, plus interest thereon at the legal rate from the date of purchase; and
(b) The value of the security or investment at the time it was disposed of by the plaintiff, plus the amount of any income received on the security or investment by the plaintiff.
(5) In an action for damages brought by a seller of a security, the plaintiff shall recover an amount equal to the difference between:
(a) The value of the security at the time of the complaint, plus the amount of any income received by the defendant on the security; and
(b) The consideration received for the security, plus interest at the legal rate from the date of sale.
(6) In any action brought under this section, including an appeal, the court shall award reasonable attorneys' fees to the prevailing party unless the court finds that the award of such fees would be unjust.
History.--s. 5, ch. 78-435; ss. 9, 15, ch. 79-381; s. 5, ch. 80-254; ss. 5, 6, ch. 81-115; ss. 2, 3, ch. 81-318; s. 3, ch. 83-265; s. 9, ch. 84-159; ss. 11, 14, 15, ch. 90-362; s. 4, ch. 91-429; s. 1, ch. 2000-123.
BTW, I am interested in making calls--I hope we can muster a large group to make it work well.
A couple other applicable pages...
http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&Search_String=&URL=Ch....
517.201 Investigations; examinations; subpoenas; hearings; witnesses.
http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&Search_String=&URL=Ch....
517.2015 Confidentiality of information relating to investigations and examinations.
Hurricane Local Statement
http://www.srh.noaa.gov/showsigmz.php?mz=anz236&product1=Hurricane+Local+Statement
TROPICAL STORM BERYL LOCAL STATEMENT
ANZ231>237-254-255-MAZ019>024-RIZ002-004>007-008-210000-
TROPICAL STORM BERYL LOCAL STATEMENT
NATIONAL WEATHER SERVICE TAUNTON MA
1154 AM EDT THU JUL 20 2006
...A TROPICAL STORM WARNING REMAINS IN EFFECT FROM WOODS HOLE
MASSACHUSETTS TO PLYMOUTH MASSACHUSETTS...
...A TROPICAL STORM WATCH IS IN EFFECT FROM WATCH HILL RHODE ISLAND
TO WOODS HOLE MASSACHUSETTS WHICH INCLUDES THE SOUTH COAST OF RHODE
ISLAND AND SOUTH COASTAL MASSACHUSETTS...
...NEW INFORMATION...
DUE TO THE UNCERTAINTY IN THE TRACK OF TROPICAL STORM BERYL AND THE
CHANCE IT COULD TRACK SLIGHTLY WEST OF THE CURRENT FORECAST...A
TROPICAL STORM WATCH HAS BEEN ISSUED FOR THE SOUTH COAST OF RHODE
ISLAND AND SOUTH COASTAL MASSACHUSETTS. THIS INCLUDES AREAS
ADJACENT TO NARRAGANSETT BAY. HOWEVER...THE GREATEST IMPACT FROM
TROPICAL STORM BERYL WILL BE FELT ACROSS CAPE COD...MARTHAS VINEYARD
AND ESPECIALLY NANTUCKET.
...AREAS AFFECTED...
TROPICAL STORM BERYL WILL IMPACT CAPE COD...MARTHAS VINEYARD...
NANTUCKET AND SOUTHEAST PLYMOUTH COUNTY LATE TODAY INTO EARLY
FRIDAY. THERE IS A LOWER PROBABILITY THAT TROPICAL STORM CONDITIONS
WILL AFFECT SOUTH COASTAL RHODE ISLAND AND SOUTH COASTAL
MASSACHUSETTS.
THIS STATEMENT RECOMMENDS ACTIONS TO BE TAKEN BY PERSONS IN...SOUTH
COASTAL RHODE ISLAND AND SOUTH COASTAL MASSACHUSETTS. THIS
STATEMENT ALSO RECOMMENDS ACTIONS FOR BOATERS IN THE ADJACENT
COASTAL WATERS.
...WATCHES/WARNINGS...
A TROPICAL STORM WARNING IS IN EFFECT FROM WOODS HOLE MASSACHUSETTS
TO PLYMOUTH MASSACHUSETTS...INCLUDING CAPE COD...NANTUCKET AND
MARTHAS VINEYARD.
A TROPICAL STORM WATCH IS IN EFFECT FROM WATCH HILL RHODE ISLAND TO
WOODS HOLE MASSACHUSETTS WHICH INCLUDES THE SOUTH COAST OF RHODE
ISLAND AND SOUTH COASTAL MASSACHUSETTS. IF IT BECOMES MORE CERTAIN
THAT TROPICAL STORM CONDITIONS WILL AFFECT SOUTH COASTAL RHODE
ISLAND AND SOUTH COASTAL MASSACHUSETTS...A TROPICAL STORM WARNING
WILL BE ISSUED LATER TODAY.
...STORM INFORMATION...
AT 1100 AM EDT...THE CENTER OF TROPICAL STORM BERYL WAS LOCATED NEAR
LATITUDE 38.8 NORTH...LONGITUDE 72.7 WEST OR ABOUT 220 MILES
SOUTHWEST OF NANTUCKET.
BERYL IS MOVING TOWARD THE NORTH-NORTHEAST NEAR 13 MPH. THIS MOTION
COULD BRING THE CENTER OF THE STORM CLOSE TO NANTUCKET EARLY FRIDAY
MORNING.
MAXIMUM SUSTAINED WINDS ARE NEAR 60 MPH...WITH HIGHER GUSTS. LITTLE
CHANGE IN STRENGTH IS EXPECTED TODAY.
THE LATEST MINIMUM CENTRAL PRESSURE REPORTED BY AN AIR FORCE RESERVE
HURRICANE HUNTER AIRCRAFT IS 1002 MB...29.59 INCHES.
...PRECAUTIONARY/PREPAREDNESS ACTIONS...
ONE OF THE BIGGEST THREATS A TROPICAL STORM CAN POSE TO NEW ENGLAND
IS TO THE BOATING COMMUNITY. MARINERS ARE ADVISED TO REMAIN IN PORT
UNTIL THE TROPICAL STORM THREAT HAS PASSED. BOAT OWNERS AND MARINA
OPERATORS SHOULD COMPLETE PREPARATIONS FOR TROPICAL STORM CONDITIONS
BY EARLY THIS EVENING. MAKE SURE THAT MOORINGS ARE SECURE.
SEAS WILL BUILD RAPIDLY TO NEAR 15 FEET JUST SOUTHEAST OF NANTUCKET
AND CAPE COD THIS EVENING.
FOR A MORE COMPLETE LISTING OF TROPICAL STORM WATCH PREPAREDNESS
INFORMATION...PLEASE REFER TO THE PUBLIC INFORMATION STATEMENT
/KBOXPNSBOX/ ISSUED BY THE NATIONAL WEATHER SERVICE IN TAUNTON.
...WIND IMPACTS...
AT THE POINT OF CLOSEST APPROACH...WHICH WILL BE APPROXIMATELY 6 AM
FRIDAY MORNING...BERYL IS EXPECTED TO HAVE SUSTAINED WINDS OF 50 MPH
WITH GUSTS TO 65 MPH...MAINLY EAST AND SOUTHEAST OF THE CENTER.
TROPICAL STORM FORCE WINDS OF APPROXIMATELY 40 MPH WITH GUSTS TO 50
MPH WOULD BEGIN TO IMPACT CAPE COD AND THE ISLANDS AT APPROXIMATELY
9 PM THIS EVENING. THERE IS A LOWER PROBABILITY THAT TROPICAL STORM
FORCE WINDS OF 40 MPH WILL AFFECT SOUTH COASTAL RHODE ISLAND AND
SOUTH COASTAL MASSACHUSETTS INCLUDING NEW BEDFORD...NEWPORT AND
WESTERLY.
...STORM SURGE FLOOD AND STORM TIDE IMPACTS...
GIVEN THE CURRENT AND EXPECTED STRENGTH OF TROPICAL STORM BERYL...
STORM SURGES OF 1 TO 3 FT ARE POSSIBLE IN ADDITION TO THE EXPECTED
TIDES.
AN ASTRONOMICAL HIGH TIDE OF 3.9 FEET OCCURS AT NANTUCKET AT 918 PM
TONIGHT...AND 2.7 FEET AT 1013 AM FRIDAY MORNING. AT THIS TIME...
ONLY SOME MINOR SPLASHOVER AND BEACH EROSION IS EXPECTED.
AN ASTRONOMICAL HIGH TIDE OF 10.0 FEET OCCURS AT PROVINCETOWN AT
826 PM TONIGHT...AND 8.4 FEET AT 912 AM FRIDAY MORNING. AT THIS
TIME...ONLY SOME MINOR SPLASHOVER AND BEACH EROSION IS EXPECTED.
THE SURGES THAT ACTUALLY OCCUR WILL DEPEND ON THE EVENTUAL SPEED OF
THE STORM. THE IMPACT OF ANY SURGE WILL DEPEND WHETHER THE STORM
ARRIVES DURING HIGH OR LOW TIDE.
...RIP CURRENT IMPACTS...
SOUTHERLY SWELL FROM TROPICAL STORM BERYL WAS ALREADY AFFECTING
THE OFFSHORE WATERS. AT 11 AM...SWELLS UP TO 8 FEET...AND
BUILDING...HAVE BEEN REPORTED FROM BUOYS JUST SOUTH OF NANTUCKET AND
LONG ISLAND.
BUILDING SURF ALONG THE RHODE ISLAND AND MASSACHUSETTS SOUTH COAST
WILL RESULT IN DANGEROUS RIP CURRENTS TODAY THROUGH FRIDAY ALONG
MANY SOUTH COAST BEACHES. A HIGH SURF ADVISORY IN EFFECT UNTIL 2 PM
EDT FRIDAY FOR THE SOUTH COAST RHODE ISLAND AND MASSACHUSETTS.
...RIVER AND SMALL STREAM FLOOD IMPACTS...
TROPICAL STORM BERYL MAY PRODUCE RAINFALL OF 2 TO 4 INCHES OVER CAPE
COD AND THE ISLANDS DURING TONIGHT AND FRIDAY MORNING. IN PLYMOUTH
AND BRISTOL COUNTIES OF MASSACHUSETTS...AS WELL AS RHODE
ISLAND...THE POTENTIAL EXISTS FOR 1 TO 2 INCHES OF RAIN. ISOLATED 3
INCH AMOUNTS ARE POSSIBLE OVER SOUTH COASTAL RHODE ISLAND INCLUDING
BLOCK ISLAND. FLOOD WATCHES MAY NEED TO BE ISSUED WITH LATER
FORECASTS IF THE POTENTIAL FOR FLOODING INCREASES.
ON CAPE COD AND THE ISLANDS...MINOR FLOODING WOULD BE INITIATED IF
3 INCHES OF RAIN WERE TO OCCUR IN ONE HOUR...OR 4.5 INCHES OF RAIN
FELL IN 3 HOURS. ELSEWHERE IN SOUTHEAST MASSACHUSETTS AND IN RHODE
ISLAND...2 TO 3 INCHES OF RAINFALL IN ONE HOUR...OR 3 TO 4 INCHES OF
RAIN IN 3 HOURS WOULD INITIATE FLOODING.
AT THIS TIME...THE BEST CHANCE FOR HEAVY RAINFALL IS OVER CAPE
COD...MARTHAS VINEYARD...AND NANTUCKET.
...PROBABILITY OF TROPICAL STORM/HURRICANE CONDITIONS...
HERE ARE SOME PROBABILITIES OF TROPICAL STORM FORCES WINDS FOR
SELECTED LOCATIONS FROM 8 AM EDT THURSDAY THROUGH 8 PM EDT FRIDAY...
BOSTON MA 25 PERCENT CHANCE OF SUSTAINED WINDS 39 MPH OR GREATER
BOSTON MA 5 PERCENT CHANCE OF SUSTAINED WINDS 58 MPH OR GREATER
HYANNIS MA 59 PERCENT CHANCE OF SUSTAINED WINDS 39 MPH OR GREATER
HYANNIS MA 13 PERCENT CHANCE OF SUSTAINED WINDS 58 MPH OR GREATER
NANTUCKET MA 72 PERCENT CHANCE OF SUSTAINED WINDS 39 MPH OR GREATER
NANTUCKET MA 19 PERCENT CHANCE OF SUSTAINED WINDS 58 MPH OR GREATER
PROVIDENCE RI 37 PERCENT CHANCE OF SUSTAINED WINDS 39 MPH OR GREATER
PROVIDENCE RI 7 PERCENT CHANCE OF SUSTAINED WINDS 58 MPH OR GREATER
...NEXT UPDATE...
THE NEXT TROPICAL STORM LOCAL STATEMENT WILL BE ISSUED BY THE
NATIONAL WEATHER SERVICE IN TAUNTON BY 4 PM EDT.
ADDITIONAL INFORMATION ON PREPAREDNESS MEASURES FOR BOTH COASTAL AND
INLAND RESIDENTS WILL BE CONTAINED IN PUBLIC INFORMATION STATEMENTS
/KBOXPNSBOX/ THAT WILL BE ISSUED THROUGHOUT THE STORM THREAT.
ADDITIONAL STORM INFORMATION CAN ALSO BE FOUND IN SHORT TERM
FORECASTS /KBOXNOWBOX/...AND IN THE TROPICAL PREDICTION CENTER
PRODUCTS.
$$
KJC
Time to make some noise again?
Read Mr. Bill's post: http://www.investorshub.com/boards/read_msg.asp?message_id=12121024
Can we not let GVRP get swept under the rug?
I called him many months ago...
not much info he could give then. Does he still give the same old "still under investigation" line? How long do you suppose one of these types of investigations should take before they can conclude something? Geez. I'm trying to decide if it's worth bugging him again or not. I do agree that some noise from us GVRP-stuckholders would be helpful, but how does one rally everyone together and get something visible going? We had something once-upon-a-time, but that fell apart long ago. Wish Carol Remond had written a real expose of the whole enchilada, not just a tiny bit. Would still be nice to get some media attention on this, but who the hell seems to care anymore? Sigh.
joby...
Do you know if anyone ever got Banyas' email address? Putting our GVRP issues into writing may have more effect than phone calls? Is Banyas' investigation our only hope now to resolve this issue? I thought that the SEC didn't claim that this was their issue, and that it was a Florida issue. This is terrible... so much time has passed now that I have forgotten details of what the hell happened. Damn.
weebie...
* R/S?
* Cert recall--any more info?
* DTC status--does she know any more about the "freeze" situation?
* Would she know if the new shares have been deposited with the DTC?
* Have any brokerages approached her to get certs?
* Are Megas' and Sytner's new shares restricted?
weebie...
If you do talk with the DTC, perhaps you could ask about the "freeze" that Scottrade keeps mentioning. Also, does the DTC know about Pacific Transfer as BCIT's T/A or not?
TIA
I asked Scottrade for clarification on "freeze"...
and received the following reply:
A freeze means you cannot transfer this stock between firms at this time. According to DTC, there are currently no other firms out there that will accept a transfer in of BCIT. They actually refer to this as a global freeze.
Another reply from Scottrade...
After receiving a reply from Megas on this issue, I contacted Scottrade to suggest that they contact Megas directly. Response:
Thank you for your email. Unfortunately, this not an issue Scottrade and Mr. Megas can resolve. This issue can only be resolved with the transfer agent, BCIT, and DTC getting together to resolve this issue. Penson Financial will not receive the shares until this freeze is lifted by DTC due to the transfer agent issue.
(Note: I am trying to have my shares moved from Scottrade to my new brokerage account, hence the mention of Pension Financial.)
Back to the DTC "freeze" excuse again. Sigh.
In the 7/12/06 PR, it did note Megas is President...
but in the verbage of the PR, not in the signature as had been done in the past...
We are pleased to have completed the resolution of this unfortunate chapter in the history of BCIT and are pleased to have shown the Company and its principals played no part in the wrongful actions. We are excited in the future of the Company and its business model," said Thomas P. Megas, President of the Company.
Reply from Scottrade--re: Transfer Agent...
Apparently, the DTC has not accepted that Pacific Transfer is BCIT's transfer agent. I forwarded Scottrade's email to Megas--maybe he can follow up on this issue. Here is the correspondence back-and-forth (since my last email to Scottrade informing them of the August 2005 PR announcing that Pacific Transfer is BCIT's T/A):
Scottrade to Pacific Transfer:
Cindy--I have contacted DTC several times on this stock regarding the transferability of BCIT. They have informed me each time that BCIT currently does not have a transfer agents assigned. If Pacific Stock Transfer is the official transfer agent of BCIT, please inform DTC of this. BCIT needs to be DTC eligible before we can transfer client shares to another firm.
Pacific Transfer to Scottrade:
We have notified DTC as well as BCIT has also. I am not sure what else they need from us.
Scottrade to me:
Thank you for your email. Cindy is saying that they have notified DTC regarding their status as transfer agent for BCIT.
At this point this issue is out of Scottrades control regarding Pacific Stock Transfers status as the transfer agent for BCIT.
Please let us know if you have any additional questions.
News for 'GCHR' - (Golden Chief Acquires Additional Leases)
LEWISVILLE, TX, Jul 17, 2006 (MARKET WIRE via COMTEX) -- Golden Chief Resources, Inc. (PINKSHEETS: GCHR) announces the acquisition of approximately 1,100 acres of oil and gas leases located in Elk County, Kansas in exchange for 200,000 shares of its common stock. The 80% net revenue leases contain 13 existing oil and gas wells which are currently shut-in. Two of the wells can be brought on production with the installation of only minimal surface equipment which the Company has in inventory. The Company expects to install the equipment and begin producing the wells early in August.
CONTACT:
Golden Chief Resources, Inc.
Lewisville
Mike McIlvain
972-219-8585
SOURCE: Golden Chief Resources, Inc.
A BS reply from Scottrade...
I have already replied, quoting TM's August 26, 2005 press release. I'll keep ya informed with their next response.
From Scottrade:
Dear Mr. XXXXX:
Thank you for your email. At this time BCIT is non-transferable due to the fact there is no transfer agent assigned to the security. Once a transfer agent is assigned DTC should be able transfer shares between firms. A transfer agent needs to be assigned before the stock can start trading again. As of this morning DTC has not received the common shares of BCIT.
Please let us know if you have any additional questions.
Sincerely,
Matt R.
Scottrade Financial Services, Inc.
Scottrade has been named Highest in Investor Satisfaction With Online Trading Services Six Times in a Row by J.D. Power and Associates. For award information, visit www.jdpower.com.
Karma Media... goodkarma37... coincidence? Probably.
What happened to goodkarma, anyhow? Haven't seen him here since March.
OT: weebie...
I sent the email to ST. Thanks for the suggestion.
Response from Scottrade...
In my email to ST yesterday, I asked how long Scottrade expects for the process of transferring my BCIT shares from Scottrade to my new brokerage firm. (Scottrade had tried to transfer my shares twice in the past, but the transfers reverted to Scottrade.)
Scottrade response:
Dear Mr. XXXXX:
Thank you for your email. Our transfer out department contacted DTC (The Depository Trust Co.) who handles all transferable assets between brokerage firms. According to DTC they do not see BCIT becoming eligible for transfer in the near future and at this time it is still unclear when the stock will start trading again.
Please let us know if you have any additional questions.
Sincerely,
Matt R.
Scottrade Financial Services, Inc.
Scottrade has been named Highest in Investor Satisfaction With Online Trading Services Six Times in a Row by J.D. Power and Associates. For award information, visit www.jdpower.com.
Getting closer to a contest winner?
0.0055 to 0.006 today, so far.
#5 board...
http://www.investorshub.com/boards/default.asp
Active Stocks Today
1. XECHEM INTERNATIONAL, INC XKEM Quote
2. Blackout Media Corp BKMP Quote
3. China Direct Trading Corp. CHDT Quote
4. Fronthaul Group FHAL Quote
5. Bancorp International Group Inc BCIT Quote
BCIT press release, believe it or not...
News for 'BCIT' - (Bancorp International Group, Inc. Announces Recent
Actions)
OKLAHOMA CITY, Jul 12, 2006 (PRIMEZONE via COMTEX) -- Bancorp International Group, Inc. (Other OTC:BCIT) announced today that it has completed the filing of its Form 10-KSB for the years 2000-2005 inclusive, as well as its Form 10-QSB for the three months ended March 31, 2006. Having completed these report filings, the Company is current in its reporting obligations under applicable federal securities laws.
On August 31, 2005, the SEC temporarily suspended trading in the securities of the Company pursuant to Section 12(k) of the Securities Exchange Act of 1934. In its Release, the SEC stated that it temporarily suspended trading in the common stock of the Company because it appeared that the applicable stock certificates, purportedly of the Company and signed by Thomas Megas as President and M.
Puig
as secretary, were counterfeit.
The Company filed a civil action in the District Court of Oklahoma County, Oklahoma on September 21, 2005 against 12 different defendants alleging that they conspired to fraudulently prepare and distribute at least 235,000,000 shares of common stock of the Company.
The District Court of Oklahoma County, Oklahoma entered an order approving settlement Agreement requiring the settling parties to return the alleged fraudulently issued shares of common stock to the Company and the Company was paid the cash proceeds alleged to have been wrongfully received by the defendants subject to such Order. In addition the Company issued new shares with a new CUSIP number which became effective for all previous, current and future common stock issued by the Company transfer agent.
"We are pleased to have completed the resolution of this unfortunate chapter in the history of BCIT and are pleased to have shown the Company and its principals played no part in the wrongful actions. We are excited in the future of the Company and its business model," said Thomas P. Megas, President of the Company.
Bancorp International Group, Inc. is a shell corporation development-stage enterprise and has not realized any revenue from its prior operations, which were discontinued in 2000. In September 2005 the Company entered into a non-binding joint venture agreement with ESC Oil Export, Ltd. Under the terms of that joint venture arrangement, the Company will obtain the rights to sell and market the oil and natural gas production from the petroleum reserves of Papua, New Guinea. This joint venture is subject to the approval and acceptance by the government of Papua, New Guinea of certain related natural gas and supply contracts. Until the governmental approval and acceptance are obtained, the joint venture agreement with ESC Oil Export, Ltd. will not be binding or effective. Because the Company is only in the preliminary stages of this joint venture with ESC Oil Export Ltd., the Company has not completed a definitive plan of operation.
Within the past 30 days the Company entered into a Letter of Intent with a Midwestern oil company that will enable the Company to acquire the working interest in producing wells and proven non-developed reserves. The Company is awaiting an additional engineering report that will determine the price to be paid for the wells and reserves in concluding the final terms of the Purchase Agreement and estimates the study being completed by July 25, 2006.
The objective in acquiring the Midwestern oil producing properties is to assist the Company in its current objective of becoming an Energy Corporation and enhancing its ability to qualify for inclusion or listing on the NASDAQ or American Stock Exchange.
BCIT is also submitting a 15c 211 submission document in order to ensure that the shares of the Company can resume trading.
Thomas P. Megas
Disclaimer
Certain statements included in this news release constitute "forward-looking statements" within the meaning of section 27A of the Securities act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended.
Certain, but not necessarily all, of such forward-looking statements can be identified by the use of forward-looking terminology such as "anticipate,"
"believes," "expects," "may," "will," or "should," or other variations thereon, by discussions of strategies that involve risks and uncertainties.
Bancorp International Group, Inc.'s actual results or industry may be materially different from any future results expressed or implied by such forward- looking statements. Factors that could cause actual results to differ materially include general economic and business conditions; Bancorp International Group Inc.'s ability to implement its business strategies; competition; availability of key personnel; increasing operating costs; unsuccessful promotional efforts; changes in brand awareness; acceptance of new product offerings; retention of members and independent marketing representatives; and changes in, or the failure to comply with, government regulations. Bancorp International Group, Inc.
undertakes no obligation to update any forward-looking statements or to make any other forward-looking statement, whether as a result of new information, future events, or otherwise.
This news release was distributed by PrimeZone, www.primezone.com
SOURCE: Bancorp International Inc.
By Staff
CONTACT: Bancorp International Group, Inc. Thomas P.
Megas (702) 361-30334
(C) 2006 PRIMEZONE, All rights reserved.
-0-
INDUSTRY KEYWORD: Business Services
SUBJECT CODE: ENERGY
OIL
Company Regulatory Filings
Law & Legal Issues
Attn: Scottrade BCIT shareholders...
I just forwarded the PR to Scottrade ( support@scottrade.com ), asking how long they expect before I will have my shares available. I would hope the rest of you with BCIT in your Scottrade accounts will contact Scottrade, and get them to recognize how many of us they need to appease.
ESC happens to be an abbreviation for...
"Essential Services Commission", two of which are in Australia...
Essential Services Commission of South Australia http://www.escosa.sa.gov.au/site/page.cfm , and Essential Services Commission of Victoria http://www.esc.vic.gov.au/ . Both have some oversight of gas Down Under, and there is that proposed pipeline between PNG and Australia... http://www.agl.com.au/AGLNew/About+AGL/PNG+Gas+summary.htm that they may have involvement in. I don't think that these are necessarily related to the ESC company that is mentioned in the BCIT filings, but it is an interesting observation. Playstk/woogie did discover the Kestrel/Samson/Victoria Gas company, which does have ties to Victoria. Just something I picked up in my Googling.
Interesting response from Megas, weebie...
Thanks for posting.
I see that now...
http://en.wikipedia.org/wiki/Asystole
Asystole
From Wikipedia, the free encyclopedia
Jump to: navigation, search
In medicine, asystole is a state of no cardiac electrical activity, hence no contractions of the myocardium and no cardiac output or blood flow. Asystole is one of the conditions required for a medical practitioner to certify death.
In asystole, the heart is not likely to respond to defibrillation because it is already depolarized, however some emergency physicians advocate the trial of defibrillation in case the rhythm is actually fine ventricular fibrillation, or a rhythm that is shockable but too small to be seen on the monitor. When asystole is confirmed by a physician, there are still treatments that may be effective, but asystole is often the last stage of heart disease. The only possible ways to restart an asystolic heart are the administration of epinephrine, also known as adrenaline, or of atropine to block vagal tone that may be preventing the heart from beating, and finally pacing of the heart, or applying a small electric shock to the heart at a regular rate in hopes of causing it to beat.
While the heart is asystolic, there is no blood flow to the brain unless CPR or internal cardiac massage (when the chest is opened and the heart is manually compressed) is performed, and even then, it is still a small amount. After many emergency treatments have been applied but the heart is still unresponsive, it is time to consider pronouncing the patient dead. Even in the rare case that a rhythm should reappear, if asystole has persisted for fifteen minutes or more the brain will have been deprived of oxygen long enough to cause brain death.
Is Megas getting those paddles gelled and ready...
to get the BCIT vitals moving again?
"CLEAR!"
Transfer agent not going to be busy in the next 12 months?
Only $7500 budgeted to pay the T/A. Yet, $105,000 has been budgeted for travel, and $30K for hotel accommodations. See this post http://www.investorshub.com/boards/read_msg.asp?message_id=11915171
The Controls and Procedures section is the same as in the 10-K. Never mind about that. I guess I had skimmed by it before.
Re ESC in the 10Q...
Operations
Since our inception, we have not realized any revenue from operations. We discontinued our motor racing business activities in the third quarter of 2000 and have not undertaken any business activities since. Accordingly, all of these activities were reflected as discontinued operations in 2000 and a loss of $4,488,503.
In September 2005 we entered into a non-binding joint venture agreement with ESC Oil Export, Ltd. Under the terms of this joint venture arrangement, we will obtain the rights to sell and market the oil and natural gas production from the petroleum reserves of Papua New Guinea. This joint venture agreement is subject to the approval and acceptance by the government of Papua New Guinea of certain related natural gas and supply contracts. Until the governmental approval and acceptance are obtained, our joint venture agreement with ESC Oil Export, Ltd. will not be binding or effective. Because we are only in the preliminary stages of this joint venture with ESC Oil Export, Ltd., we have not completed a definitive plan of operation. As of the date of this report, other than the non-binding joint venture agreement with ESC Oil Export, Ltd., we are not considering any other plan of operation.
Our operations for the three months ended March 31, 2006 and 2005 were primarily of a corporate nature including legal, accounting and general corporate administrative matters. We did not conduct any business enterprise activities during the three months ended March 31, 2006 and 2005.
...
12-Month Overhead Budget
Although our joint venture agreement with ESC Oil Export, Ltd. is contingent upon obtaining approval and acceptance of the proposed terms of certain natural gas and supply contracts by the government of Papua New Guinea, we have prepared a budget for the 12 months ending June 30, 2007 based upon obtaining this governmental approval. Accordingly, our budgeted overhead expenses for the 12 months ending June 30, 2007 are as follows:
Expenditures: Per
Month 12
Months
Travel expenses $8,750 $105,000
Hotel accommodations 2,500 30,000
Rent and office expenses 1,000 12,000
Employee compensation 2,667 32,000
Accounting expenses 7,500 90,000
Utilities and telephone 3,000 36,000
Transfer agent 625 7,500
Office supplies and equipment 1,042 12,500
Miscellaneous expenses 833 10,000
Total Administrative Expenditures $27,917 $335,000
Additional Financial Commitments. Other than our commitments discussed above, we do not have any capital commitments. Because we do not have any assets, additional capital resources and funding will be required in the event we obtain the Papua New Guinea governmental approval of our proposed natural gas and supply contracts and proceed with our joint venture arrangements with ESC Oil Export, Ltd. We have not formalized any plans for obtaining the necessary additional capital resources and funding, and have not obtained any related commitments related. We anticipate however that, on a short-term basis, Thomas Megas (our controlling shareholder and Chief Executive Officer and one of our directors) will provide the necessary capital resources and funding through loans until alternative funding arrangements are completed. These funding arrangements may include either or a combination of sales of common stock shares or lending arrangements; however, there is no assurance that these sales or arrangements will become available or will be on terms acceptable to us. Unless the necessary capital resources are obtained, we may unable to proceed with our joint venture arrangement with ESC Oil Export, Ltd. even though governmental approval may have been obtained.
Interesting from the 10Q...
I don't recall seeing this before:
Item 3. Controls and Procedures.
Our Chief Executive Officer and Acting Chief Financial Officer are responsible primarily for establishing and maintaining disclosure controls and procedures designed to ensure that information required to be disclosed in our reports filed or submitted under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the U.S. Securities and Exchange Commission. These controls and procedures are designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act is accumulated and communicated to our management, including our principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
Furthermore, our Chief Executive Officer and Acting Chief Financial Officer are responsible for the design and supervision of our internal controls over financial reporting that are then effected by and through our board of directors, management and other personnel, to provide reasonable assurance regarding the reliability of our financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. These policies and procedures (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of our assets; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that our receipts and expenditures are being made only in accordance with authorizations of our management and directors; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect on our financial statements.
Thomas Megas, our Chief Executive Officer and Acting Chief Financial Officer, based upon his evaluation of the effectiveness of our disclosure controls and procedures and the internal controls over financial reporting as of the last day of the period covered by this report, concluded that our disclosure controls and procedures and internal controls over financial reporting were fully ineffective as of the last day of the period covered by this report and reported to our auditors
and board of directors that there are no controls and procedures and internal control over financial reporting during the period covered by this report and that all of which materially affect or is reasonably likely to materially affect our disclosure controls and procedures or internal control over financial reporting. In conducting the evaluation of our disclosure controls and procedures and internal controls over financial reporting, Mr. Megas did not discover any fraud that involved management or other employees who have a significant role in our disclosure controls and procedures and internal controls over financial reporting. Furthermore, although the disclosure controls and procedures and internal controls over financial reporting were deficient and absent, there were no changes made in our disclosure controls and procedures, internal controls over financial reporting, or other factors that would eliminate the deficiencies in our disclosure controls and procedures or internal controls over financial reporting subsequent to the date of their evaluation. Although significant deficiencies or material weaknesses existed, no corrective actions were taken to correct significant deficiencies and material weaknesses in our internal controls and disclosure controls and procedures because of the lack of required financial resources to correct such deficiencies and weaknesses.
Kestrel name change to Victoria USA in April 2003...
http://www.sos.state.co.us/biz/ViewImage.do;jsessionid=0000EsizJa0d6LyFOUgT428vgXp:10e80j0vs?masterF....
(edit) Looks like they're now Victoria Petroleum USA...
formerly Kestrel Energy California http://www.sos.state.co.us/biz/ViewImage.do;jsessionid=0000EsizJa0d6LyFOUgT428vgXp:10e80j0vs?masterF.... .
http://www.sos.state.co.us/biz/BusinessEntityHistory.do;jsessionid=0000EsizJa0d6LyFOUgT428vgXp:10e80....
Annual report issued 3/31/2006 .
Victoria Petroleum is part-owner of Samson....
from http://www.vicpet.com.au/Reports/quarterly/1_06a.html :
Victoria Petroleum N.L. has an 8.8% interest in Samson Oil & Gas Limited which through its 93.4% shareholding in Kestrel Energy, Inc. has recoverable proved reserves attributable to Samson of 23.5 billion cubic feet of gas equivalent with a 10% net present value of A$90.4 million as reported by Samson Oil & Gas Limited.
Some discussion re: Samson/Kestrel...
http://www.vinvesting.com/fortopic609.html
http://www.sharetrader.co.nz/topic.asp?TOPIC_ID=21147
Also of interest... http://press.arrivenet.com/industry/article.php/641305.html
Kestrel Energy Announces Going Private Transaction
Distribution Source : Market Wire
Date : Friday, May 20, 2005
DENVER, CO -- (Market Wire - May 20, 2005) -- Kestrel Energy Inc. (OTC BB: KEST), an oil and gas exploration and production company, announced that it is today filing with the SEC a Schedule 13E-3 under Rule 13e-3 for a "going private transaction" and a Schedule 14A and Preliminary Proxy Statement soliciting the Company's shareholders for approval of a 100-for-1 reverse stock split. The proposal is virtually assured of being approved because the Company's controlling shareholder, Samson Oil & Gas N.L., an investment corporation registered in Australia and traded on the Australian Stock Exchange Limited that owns approximately 77% of the outstanding shares of the Company's common stock, has indicated it will vote for the proposal. If the reverse stock split is effected by the board of directors, those shareholders holding less than 100 shares will have their shares cancelled and receive cash for their shares and those shareholders who own 100 shares or more but less than 10,000 shares will become odd lot holders. The reverse stock split, if effected, would mean that the Company would have less than 300 shareholders of record and the Company would then file a Form 15 terminating its obligation to file reports with the SEC.
Headquartered in Denver, Kestrel has producing properties in Wyoming, Oklahoma, New Mexico and Texas.
Statements made in this press release that are not historical facts may be forward-looking statements. Actual events may differ materially from those projected in any forward-looking statement. There are a number of important factors that could cause actual results to differ materially from those anticipated or estimated by any forward-looking information. In addition, while the Company currently understands that Samson will vote in favor of the reverse stock split, Samson may change its mind and vote against the reverse stock split or the Board of Directors of the Company may decide to delay or abandon the reverse stock split. In addition, changes in the composition of the Company's shareholder base could cause the Company to remain a public company notwithstanding the reverse stock split. In any event, the likelihood or the completion of the going private transaction could also be affected by the Company's results, which are dependent on various factors, including but not limited to exploration or development successes or failures, equipment availability or breakage, the market prices for petroleum products, the Company's limited financial resources, and other factors. A description of the risks and uncertainties which are generally attendant to Kestrel Energy and its industry as well as other factors which could affect the Company's financial results are included in the Company's June 30, 2004 report to the Securities and Exchange Commission on Form 10-KSB.
CONTACTS:
Kestrel Energy
303/295-0344
E-mail: mtemple@kestrelenergy.com
Kestrel deregistered in August 2005...
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001144204%252D05...
Also, their web site is not in operation at this time... http://www.kestrelenergy.com/ .
Papua New Guinea press releases are from 1999...
http://www.highbeam.com/doc/1G1:54330594/Kestrel+Energy+Announces+Drilling+Commencement+of+.html?ref...
http://www.highbeam.com/doc/1G1:54109612/Kestrel+Energy+Announces+Mobilization+of+Drilling+.html?ref...
Do you think they're in hibernation until a buyout/merger is announced?
PCLO contest is now closed, LOL...
http://www.investorshub.com/boards/board.asp?board_id=6006
PCLO contest is now closed, LOL...
http://www.investorshub.com/boards/board.asp?board_id=6006
Thanks for posting that email, Art.
You sure bring a sense of balance to the situation.
OT: Yeah, GVRP really was a slap in the face, and nuts, and pretty much all over. Wonder if the FL Examiners' office will ever finish that investigation?
Gotta get some Zzzz's now. G'night everyone.
Question... why didn't Megas just walk away from BCIT? Why go through all the court case and the filing expenses, and the emails from Art and OHBULL, and everyone else? What's in it for Megas and Sytner, for all of this effort and expense? Why not go to another shell, if (just a hypothesis at this point) he was involved in all of this with Pino from the start?