Bancorp International Group Inc (fka BCIT)

[CarltonH]

public announcement or publication that securities have been deemed worthless

When a business is declared bankrupt, it undergoes reorganization and either ends for good or creates or becomes part of a new stock.

Such a reorganization will usually result in some leftover, worthless stock. Often the business will trade in both the bankrupt and new stock for a certain amount of time, until a cutoff date cancels the old stock, removing it from any type of trading at all.

Thats when such an announcement is made.

In the case of BCIT the company is still alive and kicking and clearly not bankrupt and no such announcement will be made.