Bancorp International Group Inc (fka BCIT)

[Art2Gecko]

yes, it is probably worded that way at the request of the dtc.

Could you imagine BCIT filing a lawsuit trying to "invalidate" -- "shares naked sold into the marketplace by various MM's AFTER the DTC issued a warning notice"

lol...

Remember. BCIT tried to start trading in October, playing by all the rules,,,got current in filings, found a MM sponsor for the form 211, filed it with the nasdaq, obtained a DTC participant to file the application for clearing through the DTC.....even started to trade briefly.

The DTC came in and stopped it refusing to clear trades. BCIT was furious at this after spending all the time and money to go through all the hoops necessary to get it trading.

They finally had this conference call in December where the DTC outlined what they had to do to satisfy their requirements. I really doubt that BCIT's first choice was to sue 1200 people...For buying shares on the open market...Think about it, the concept is ridiculous. imo, Especially since they tried in the fall to get it trading normally, this action had to come from an outside requirement...i.e. the DTC.