Bancorp International Group Inc (fka BCIT)

[SammyTheBull]

From what I recall, and it's been a couple of years now, you're correct. It was pumped as a short where TM had $60 Million to put into the empty shell which would "burn the shorts". The $60 Million though, I gathered, weren't real tangible assets but actually assets under management with no real value to Megas (think property manager). TM never did that anyway, nor did anything else for that matter other than send cryptic emails to fools that waited with baited breath on his next word.

Having a trading pinksheet doesn't preclude someone from building a business in the meantime. Imagine if he had built a business, with revenues and such and then opened it up for trading publicly. Nope. Megas hasn't done a damn thing. He's back to the PNG junk from two years ago. Where's the real estate?

What's always struck me funny is that the "fraudulent shares" happened right after Pino and Carter issued PR's to pump the stock with the South American deal. Then, it seems, it became a p*ssing match between Pino and Megas. Court docs say it was a contract dispute. That's what it was.

My interpretation is that Megas went to sell his March Indy/Bancorp shell to Pino. Pino then issued stock ad-nauseum for the Carter RM in anticipation of a P&D. Pino reniged somehow (aka didn't pay), so Megas got p*ssed and sued. The shares were already floated out. He (Megas) then recinded the deal and the problem was the shares already issued. He called them "fraudulent", which is probably a half-truth. If Pino had gone through his end (actually purchasing the shell) then there would've been nothing to it. But he didn't.

In the end, BCIT is still just an empty shell with absolutely nothing in it. The RS will wipe the slate clean. Megas has been good about filings (pretty much cookie cutter) because the shell has value so keeping it current is in "his" best interest.

What will happen? The shareholders meeting is just a formality (it's really just a pre-determined vote). The RS will happen before trading starts, it will dive quickly (as most will dump asap) and the one's that don't will be renewed bagholders hoping that the latest pump (Energy Source, Inc) may get them out. Doubt it.

But that's just my opinion! LOL