Replies to post #126389 on Bancorp International Group Inc (fka BCIT)

[mretgnol]

You can't seek an exemption from filing because the shell corp is revoked.

The process of seeking reinstatement is really difficult. Hence, why it has been rarely done.

Why did he not respond to the SEC's request for revocation when he has time to answer emails and release a PR?

[janice shell]

our CEO could file a voluntary form 15 and avoid the need for a SEC ordered revocation. It appears that this move would give them 90 days and another possible 60 to bring their filings up to date and possibly return to good standing with the SEC ?

No. Too late. He could have tried that at any time, though I don't think it would have worked because of the number of shareholders.

All he had to do was respond to the SEC's action, asking them for an extension giving him time to file the missing Ks and Qs. If he could have shown that he'd engaged an accountant, the extension would probably have been granted.

Obviously he chose not to do that.