(PRWEB) November 02, 2011
The following is released by Mr Thomas Megas CEO of Energy Source Inc.
As the Securities Exchange Commission (SEC) claimed in Litigation Release No. 20466, Energy Source Inc was a victim of corporate identity theft in 2005 and between May and August 2005, the market was flooded with 41 counterfeit stock certificates, representing approximately 245,000,000 shares.
It is a matter of public record that on 16thAugust 2005, the DTCC imposed a global lock on their handling of Energy Source ex BCIT securities, which was effective as of the 11th August 2005. That global lock remains in force. For the full history of the case you are invited to go to http://www.let-bcit-trade.com
In February 2011, Energy Source contracted Carlton Huxley, a UK firm of legal & law enforcement consultants, to carry out a review of the situation to establish if there were any unauthorised shares in the public domain.
Carlton Huxley has communicated with the DTCC and the major brokerage firms who traded these shares by letter, fax and email and none have indicated that they have unauthorized shares.
Carlton Huxley has also contacted hundreds of people who had purchased shares in Energy Source (BCIT). Correspondence shows that these people have asked their brokers for share certificates, but to date, no certificates have been delivered and the reason given is the DTC global lock
Based on these facts, it is the opinion of Energy Source that there are reasonable grounds to believe that not only are there no unauthorized certificates in the public domain, but that there are very few, if any authorized share certificates in circulation.
The DTC global lock does not prevent trading of a stock, but it affects the services rendered by the DTC. A participant who trades a locked stock does so without DTCC involvement and must hold physical securities and be willing to settle directly with the client.
According to figures from OTCBB and Bloomberg Finance, brokers sold 2,076,500,035 shares between May 2005 and September 2005. When this figure is compared to the official Company share transfer register held with Empire Stock, the Transfer Agent for Energy Source and the official company filing held with the Secretary State of Nevada, the number of shares sold was 424 times the number of shares outstanding and 1892 times the number of shares in the legal public float.
Energy Source Inc (BCIT) wishes to announce that it is not defunct or bankrupt and remains a Nevada registered company with 73 shareholders on the register. However, there are approximately another 1500 people who purchased stock, but have yet to receive certificates and the company will regard them as shareholders and is in the process of ratifying their positions over the next few weeks.
The company now intends to reactivate and focus on acquiring, managing, and developing operating rights in the gas, oil, and mineral sectors. To this end, the company is currently exploring the feasibility of a number of projects outside of the United States.
As of 27th November 2007, there were 2 billion authorized shares, with 1,075,084,637 outstanding. Shares are available through Energy Source at a price of 15 cents (US), which was the stock’s last publicly traded price. Anyone requiring shares should contact:
Mr. Thomas Megas
The Transfer Agent for the company has not changed since January 2007 and remains:
Empire Stock Transfer Inc.
2470 St. Rose Pkwy, Suite 304
Henderson, NV 89074
Tel: 702-818-5898, Fax: 702-974-1444 Email info(at)empirestock(dot)com
People who bought Energy Source ex BCIT Shares and who are not in possession of certificates are invited to contact Carlton Huxley Ltd. using the following dedicated email address:
Energy Source Inc calls on the DTC to remove the lock, as it is the opinion of the company that there are so few share certificates in circulation – legitimate or otherwise - that there is nothing to actually lock.
Energy Source also calls on those brokers that traded these shares to contact them in order to purchase legitimate shares in order to cover the trades they have made.
CEO Energy Source ex BCIT
377 S. Nevada Street
Carson City, NV 89703-4290