10K shows BCIT to be another POS! After all this time, and all this melodrama we have the privilege of knowing that BCIT is nothing more than a template POS penny stock:
"...Series A Preferred Stock have the right ... to convert ... at a ratio of 1 share of Series A Preferred for 100 shares of common stock. ...Series A Preferred have a right to have their shares adjusted in the event of future issuances of common shares that would have a dilutive effect on the Series A Preferred.
...
On August 19, 2005, the Company amended their Articles of Incorporation. This amendment increased the number of authorized
shares of common stock, par value of $.0001, from 500,000,000 to 2,000,000,000.
...
(c) On January 6, 2006, the Company’s Board of Directors authorized the following:
· 251,231,084 common stock shares to Thomas Megas in reimbursement of $36,925 of costs incurred by Mr. Megas on
our behalf in his capacity as our Chairman and Chief Executive Officer. These costs consisted of $33,000...."
Oh really!!! I suppose deserve has nothing to do with it. I was under the impression that BCIT, like, participated in, like, a public market and, like, capitalism. My mistake!
[Forgive me if the above info was previously available and thoroughly discussed here; I just make my say now. I've seen too much of this BS, so let's just call BS what it is. I've been in ICAN, HMSG, PBLS, and oh so many others. PENNY LAND IS JUST WRONGGGGGGGG!]
