Bancorp International Group Inc (fka BCIT)

[janice shell]

Tool_power, a good person to get involved would be Dave Patch, "Investigate the SEC" Guy.

NO, it would NOT. Patchie doesn't know what he's talking about. In the past, he's cited ECNC and AZNT as stocks that had been shorted naked. They were not. They were scams. The former CEO of ECNC is now in jail, and the CEO of AZNT is awaiting trial on charges of criminal bank and insurance fraud. Obviously Patchie does zero research.

Only the other day he was touting something called BioPure:

Finally, we will come to BIOPURE (NASDAQ: BPUR). This Cambridge Ma. based company has struggled recently to survive. The NASDAQ is threatening to de-list the security due to their inability to meet minimum pricing requirements of $1.00/share. BIOPURE has slipped in their FDA approval timeline and thus their financials are behind as well. Recently they entered into a financing agreement with Institutions and Private Investors that required significant stock dilution to raise Capital based on the low share values. BIOPURE is also reportedly on the “threshold list” circulating amongst Wall Street. The settlement problems they are encountering have resulted in possible de-listing and with the recent financing arrangement, excessive dilution to their stock and their investors. But the NASDAQ, who can’t enforce settlements, still considers de-listing. Only in America!

Oooops!!

SEC CHARGES MASSACHUSETTS BIOTECHNOLOGY COMPANY AND EXECUTIVES WITH SECURITIES FRAUD
The Commission today filed a civil fraud action against Biopure Corporation of Cambridge, Massachusetts and three top executives for misleading public statements about the company's efforts to obtain FDA approval for its primary product, a synthetic blood product, while at the same time Biopure was raising millions of dollars from investors. The action, filed in federal district court in Massachusetts, charges Biopure, its former CEO Thomas Moore, 54, of Boston, former Senior Vice President of Regulatory Affairs and Operations Howard Richman, 53, of Houston, Texas, and current General Counsel Jane Kober, 62, of Bellport, New York, with violating or aiding and abetting violations of the antifraud and reporting provisions of the federal securities laws in connection with materially misleading statements between April and December, 2003.

http://www.siliconinvestor.com/readmsg.aspx?msgid=21703152&srchtxt=PATCH

I could cite many other examples, but I think this is enough. The guy's an idiot.