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.
We can all hibernate until July 5th.
It will take at least $1.00 per share for most here to break even.
OP, and Megas is known to make back room deals, as with Pino, that profit him. His right to do that, but can Megas be trusted? He has not followed thru with what he stated in the last PR ,almost a year ago now, when he said he would. Again, so much non-communication from TM, silence is deafening. IMO, the wanker letter was a result of Grassley asking TM questions based on shareholders input that TM did not feel he needed to answer, possibly thinking they came from the DTCC.
So again, here BCIT/Energy Source is still not trading.
nice post op. sometimes we need to think with an open mind and not limit the possibilities. While they may seem to be extreme to some, the thought is truely a possibility and has a place at the table.
I am glad you do not speak for me. My confidence is up as my timeline is 2nd qtr thru the end of the year. I am not greedy like some on this board, and apparently including you, that this will take time to build and prove consistent revenue growth with additional new product. Rome was not built in a day. This stock is not for day traders so if you fall into that category and want to get rich quick, go find another stock to trash please.
I agree Molson - it is sad how the SFC was responded to by Megas - so much for graciousness by the CEO of BCIT. I guess England has a different meaning of that word, of course in this case Megas words appear to be meaningless and have fallen on deaf ears - to most.
My guess is 2 more years as IMO DTCC destroys records after 7 years. But not certain. I do know financial institutions(ie. brokerages) are required by law to retain documents for minimum 7 years.
quick turnover and investors do not compute. the quick turnover should refer to day traders, not investors.
Count me in on hold and accruing more, especially before end of June.
IMO, after the 2nd quarter financials, end of July 2010, before the MM games end.
Yes I would expect such vulgarity from a man that Wankers the SFC, and partners use vulgarity to DTCC and others et al. I do believe Megas as he reportedly said he regretted trusting Pino. Trusted Pino in what? As OP is now stating, was Megas paid off to forget the whole mess by the DTCC? Hmmm, more distrust in a vulgar man that does not deliver on his word. There was a day a man's word was his bond. Unfortunately sad to say, not any more.
allez:
It still does not state the date Megas knew and when he reported to SEC. It just states he met early May. Based on public information reported by Masta, Megas did not report to authorities til June 16th.
Thanks for the already known info, but the whole truth is still not there yet. It just confirms what I have been stating, early May Megas knew but did not report til June. Just because it was not authorized by Megas does not mean that Megas did not know anything about what Pino was doing. Yes reported to SEC but not til June after 200+ million shares traded on the open market.
Getting closer to the truth. Too many holes still in the phrasing of the SEC statement.
'How should I know?'
That is part of my concern is that noone seems to have asked the question(s) whether knowingly or not and have blindly followed the crowd chanting 'Off with DTCC, SEC, brokers'! Yes, they allowed the mess to start by not vetting the forged certificates properly.
But, what did Megas know about the identity theft, when did he know it, and when did he report it(June 16th is earliest date public known reported to authorities)? Remember that 200 million shares traded hands between May 6th(supposed date Megas/Sytner met with Pino) and June 16th. For a CEO to not know about this type of trading volume activity is hard for one to believe or comprehend.
I can only logically conclude the BCIT shareholders have not heard the the whole truth, yet.
To be continued...
op, we can agree that the DTCC is partly responsible for the BCIT not trading as they allowed the bogus shares into the market without proper oversight - no issue here. What we disagree on is the timeline of what Megas knew and when he knew and when he reported the forged certificates. It is hard for me to believe for another 30+ days Megas was not paying attention to the daily volume of BCIT shares traded. This should have raised flags and prompted him to contact the TA way before June 16th(you are stating July)
bcit has been a learning curve for Megas. IMO, he was not ready for the like of Pino, but I could be naive here, but trying to give Megas the benefit. All I am trying to do is get the facts on now is what Megas knew, when he knew it, and when did he report it. It is obvious you do not know the answer.
As we have the advantage of now looking back, what we do know is that Megas was definitely a rookie of dealing with DTCC and SEC and the likes of Pino. Just because one reportedly has a lot of money does not make him knowledgeable of the securities industry.
Seems to differ from masta's date of June 16th.
People on this board still do not want to answer the question. You just keep skirting the issue OP. Did Megas meet with Pino before June 16th or not? And if he met with Pino before June 16th, what did Megas come to know and when? Trading activity was occurring with BCIT before June 16th - started on May 2nd I believe. Did Megas not know that? So are you stating on record that Megas did not know about the forged certificates until June 16th? 200 million shares trading up to June 16th is a major volume for a CEO not to notice, unless he was too busy.
Pay attention masta. From May 5th to June 16th 200 million shares traded before Megas reported Pino. This is why it is important that we know what Megas knew and when he knew it. If Megas knew before June 16th, then the question is did Megas fail to perform fiduciary responsibility on behalf of the BCIT shareholders by not reporting as soon as he knew.
Then June 16th to September for SEC and DTCC to take action. Almost 2 billion trades up to this time. Again more culpability on their DTCC and SEC for BCIT not trading to this day.
IMO, plenty of blame to go around.
I know. That's the point. You were wrong with judging others before. You can be wrong again.
Camper, you are right, but it is only part of the problem. The BCIT saga was perpetuated, IMO, due to the potential delay of Megas knowing when the crime occurred and when he decided to report the problem to authorities. Noone has disputed yet what I contend is that Megas found out about the problem with BCIT on May 5th, with Sytner and him meeting Pino. According to Masta, Megas reported to authorities on June 16th. During this time period(May 5th to June 16th) over 200 million fraudulent shares traded on the market. Noone has disputed this timeline, but it is not reported on the fund web site. Why not? If this time line becomes a fact and is not being reported knowingly, then the fund web site can be construed as a potential fraud and those responsible can face possible prosecution.
This time delay of what Megas knew, when he knew it and reported it is very important. Until this question is answered I will not support the fund as it has the potential to fraudulently collect money, especially if those who constructed the web site willing do not ask the question what Megas knew, when he knew it, and when did he report it.
This is serious stuff going on here and people who respond with messages like LOL, are just not serious about wanting to know the whole truth here.
Yes DTCC and SEC are responsible, but the ability for them to resolve the issue, IMO, may be due to the potential time lag of reporting the incident to proper authorities by TM. IMO, this was and is the fiduciary responsibility of the CEO.
Be careful masta when it comes to judgement. You have already judged me incorrectly and admitted here on this board.
I want Megas to make it right as also DTCC and SEC, but IMO Megas has tried to do everything his way, including the letter to the SFC. Results: BCIT/Energy Source still not trading.
IMO, Megas will not be allowed to start up another company in the US as long as he does not resolve the issues with Energy Source/BCIT
I do not think Megas would reward those that donate to the fund if Attaway determined Megas did not operate BCIT with fiduciary responsibility.
IMO, megas has never been pro-shareholder because of his actions and words by him and Sytner. For example, the law suit and referring to shareholders as 'fake' shareholders.
I understand that he woke up one day and all of a sudden he had people claiming to be shareholders because of DTCC allowing fraudulent certificates into the market. What a mess! But that is why I question his behavior of what he did once he knew and when he knew and when Megas reported. IMO, this is very important.
IMO, because of the delisting, the symbol is being removed. When an uninformed shareholder calls their broker, the broker tells them misleadingly that their shares are valueless and they can have them removed from their account for $1.00
The broker accomplishes a couple of things: they remove a liability from their books and can whitewash these shares with their IOU to the shareholder. And then best of all keep the money the shareholder lost at their own risk of gambling on pinkies.
I think Megas is too. Put for a different reason than yours.
I just don't know if DTCC/SEC will keep records longer than seven years. Only 2 more years to go. Then we will probably hear from Megas.
2late get off your high horse. I did not accuse anybody of anything. I am just putting forth what possibilities may be out there as noone is coming forth with any information to this matter. I noticed you did not provide any info as when Megas first became aware of the identity theft nor does the timeline address this issue. But yet you do not want to ask this question. Seems you are the one that just wants to blame and accuse. I am just trying to get facts that is not coming forth readily(ie. 5 plus years).
I know for a fact that DTCC has records of all trading activity. The question is how long do they keep these records on file as time is Megas friend. Yes, DTCC screwed up by not vetting the initial forged certificates and I have not tried to hide that fact. But what has not and is not making sense is if Megas knew about identity theft, what and when did he know it and report it to authorities. You keep skirting this basic fundamental question and want to keep calling me out. It sound like, IMO, you know something more than you are letting on.
I can't help you with your refusal to see common sense in this line of reasoning. You keep trying to throw a wrench into anything that may make sense.
Even the SFC stated they asked Megas questions which he did not respond to. Why did the CEO not allow SFC to try helping resolve this issue?
Megas' behavior is what should be at question here. As CEO, it is his fiduciary responsibility to account to the shareholders why BCIT is not trading. It has been 5 years and he has not lived up to his responsibility, period!
Remember Martha Stewart. Same can happen with Megas, especially if he had info that he used to conduct insider trading and benefitted from it. Maybe DTCC and SEC took the lesser route of delisting company versus insider trading charges because Megas is not US citizen. Don't know, but noone has accounted for or will account for the time Megas reportedly knew(May 5, '05) about identity theft of BCIT and the time Megas reported to officials based on public info from Masta himself(June 16, '05). During this time period approximately 200 million shares traded. And BCIT only had 4.8 million shares available. By September more than 2 billion shares were traded.
DTCC and SEC have records of these trades and know who made the trades.
That is true as also if you look they do not have the only vibration solution in town either. But that is what the free market is all about, competition, isn't it?
Revenues is what will turn the tide here. And not to mention a vision for additional products. All of which BGNN has and/or is building a track record of.
Yeah you pretty much discredited yourself with that claim. Thanks for the correction and admission that you do not know the truth. Just trying to get the facts is all.
You must be getting old as you posted this about 2 weeks ago. Look in your posts. Post # 130628.
out of posts for the day
You do have a right to be wrong masta. continue laughing.
How convenient to choose to not connect BCIT not trading with fiduciary responsibility. That is what is laughable.
don't need a link. It is called common sense.
You are the one that said you know the truth. There is no speculation here. Just a yes or no if Megas knew on May 5th about Mario Pino and the identity theft of BCIT on that day.
This is very simple Masta especially if someone like you states they know the truth. Yes or no. I will even allow you to have a third option of 'I do not know'. This would mean that you do not know the truth as you proclaim.
Megas behavior still or even your input still does not explain what Megas knew and when he knew it. You have not responded to my contention that Megas knew about the identity theft on May 5th, and from your information, did not report to authorities until June 16th. This allowed too much time that allowed another 200 million shares to be traded on the open market before Megas reported to authorities. Why the gap of time of knowing about the identity theft versus reporting the identity theft? Sounds like fiduciary responsibility was not performed by Megas based on when he knew versus when he reported. Could this be why the DTCC and SEC are not being cooperative with Megas?
Let me know if you agree or disagree with the May 5th date that Megas first knew about the identity theft. This is not a hypothetical question like yours about being a liar. This is based on publicly available information. Just trying to clarify the truth about this public information, Masta.
Look at what Apple just went thru with the iPad. Difference is iPad is not biodegradable once a user is finished with it. The market is having a tough time trying to get rid of used cell phones. People will not have trouble of getting rid of bag-away product once used. It gets rid of itself.
lars, don't you understand some people are headliners only. they do not have time to read the detail. they want someone else like you to do that for them. They would rather spend their time complaining.
BGNN is going to be a huge play for a long time, not just a get rich quick company. those who stay here long will be rewarded greatly!
lars: just cannot please everyone, especially those on the hunt for a quick kill. they are impatient. The day isn't half way over and look at the chronic complainers coming out.
And your point is...?
This is more like it. Need to get NITE off the brake pedal and make some movement.