mretgnol- according to the Senate Finance Committees communication with the SEC and DTCC BCIT is not trading for the following reasons sited below in Mr. Burns e-mail. So it would seem BCIT (Energy Source) should resume trading once the filings are up to date, if in fact the SEC and DTCC provided truthful information to the SFC. My guess is they did not and one or both of the corrupt agencies will come up with another excuse. These corrupt agencies are laughable and I want the top decision makers in both agencies led away in handcuffs. :)
IMO!
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"All:
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’ve spoken to many of you regarding the delinquent filings and the question was raised as to what is the incentive to keep the filings current if it’s not allowed to trade, however this is a point that needs to be addressed between Mr. Megas, BCIT Attorney’s and the SEC. Any questions regarding the filings or the transfer agent should be addressed to Megas or the BCIT Attorney’s because that information is out of the purview of the Committee.
Until we hear an official response from Mr. Megas, the Committee cannot is unable to move forward with this investigation. I am currently following up on this particular point and as with previous e-mails, it is requested that you refrain from contacting this office because we will be unable to provide any information until we hear from Mr. Megas or his attorney’s. As soon as a response is received I will apprise you all of the final outcome.
Thank you in advance.
Kyle D. Burns
United States Senate
Committee on Finance"
