Bancorp International Group Inc (fka BCIT)

[NevadaSmith]

http://www.livetradingnews.com/bancorp-international-bcit-receives-bid-what-to-do-now-123654.htm#.VkDBbv6CQVY.mailto


Bancorp International BCIT Receives Bid, What to Do Now

It’s official Bancorp International BCIT is being bought by Redemption Global Holdings SA in a take over that will send the shorters running for the hills!

Here is what the Board said yesterday “There has been a share exchange bid from Redemption Global Holdings SA for the common stock of BCIT. The management of BCIT is currently studying this offer. We recommend that BCIT shareholders do nothing until the company has been able to ascertain whether it considers accepting the bid is in the best interests of the shareholders.” The board of Directors Bancorp International Group, Inc.

If you own any BCIT I suggest you get it, pull it out of your brokerage account, order that Certificate ASAP.

Brokers are short the stock and they have already settled on some of those shorts as a result of Court orders. So call your Broker and ask for your Certificate.

If you want to follow up with the Company contact

Redemption Global Holdings S.A.

Principal Floor DCHA 2
235 Calle Arragon
Barcelona 08007
Spain

Email: [e-mail]

The short interest in BCIT could be around 1b shares, the stock might be worth as much as $8.25 per share, THE SHORT SQUEEZE OF THE CENTURY.

Is there an offer coming? Now it there is!

Here is the history from http://www.let-bcit-trade.com/

The Corporate Identity Theft – A Company gets stolen

As the Securities Exchange Commission (SEC) claimed in Litigation Release No. 20466 Bancorp International Group, Inc., BCIT, (the “Company”), was a victim of corporate identity theft in 2005. Between May and August 2005, the market was flooded with 41 counterfeit stock certificates representing approximately 245,000,000 shares. These counterfeit certificates were produced by fraudsters Mario Pino and Pamela J Thomson.

These shares were then introduced and cleared into the public markets by brokers J.H. Darbie (Darbie) and Capital Growth Financial (CGF), and ultimately the Depository Trust and Clearing Corporation (DTCC), the private corporation and self regulated organization (SRO) mandated by Congress for the clearing and settlement of security trades. The number of these counterfeit shares exceeded the easily verifiable legal outstanding share count of 4,890,000 by a factor of fifty.

Due to the appearance of these counterfeit shares and the huge unexplained increase in trading volume (from May to August 2005 the company’s trading volume was 2,076,500,035 shares – 424 times the shares outstanding and 1892 times the shares in the legal public float), the company contacted the SEC, the Financial Industry Regulatory Authority (FINRA, then NASD) and the DTCC to alert them of the anomalous trading activity. Subsequently, due to questions arising about the certainty of the company’s capital structure, the DTCC suspended clearing services on August 11, 2005 though the stock continued to publicly trade until August 31, 2005 when the SEC announced a temporary suspension of trading in the company’s shares from 9:30 a.m. on August 31, 2005, and terminating at 11:59 p.m. on September 14, 2005.