Carson City Nevada (PRWEB) October 25, 2012
Between August 8, 2001 and November 6, 2001 Bancorp International Group Inc (BCIT) issued 8 share certificates bearing the name Bancorp International Group Inc Cusip 05968X106 totalling 795,518 shares.
On January 9, 2006 Court order CJ-2005-7549 signed by Judge Norma D. Gurich In The District Court Of Oklahoma authorized the issuance of shares under Section 3(a)(10) of the Security Exchange act of 1934 to be exchanged for 245,000,000 (approx.) unauthorized shares as identified by the SEC as being in the market place and the eight certificates which were compromised as a result.
On October 15, 2012 After communication with DTCC and having sought the advice of legal counsel, the board of directors passed a resolution in accordance with NRS 78.250 Cancelling the eight genuine BCIT share certificates on the now inactive and compromised Cusip 05968X106 and by virtue of the court order exchanging them for new certificates on the current active Cusip 05968X205 therefore conforming to the rights of the holder.
The appropriate shareholders have been informed in writing to surrender their certificates to the Compact Transfer Agent Empire Stock Transfer by Monday 29th October 2012. On receipt of the old “106” certificate Empire Stock will exchange it for a new certificate with the correct and active Cusip.
Empire Stock the company Transfer Agent has confirmed that the share transfer Journal shows that the following certificates have been cancelled and the shares returned to treasury awaiting exchange.
Name Cert # # Shares
Cede & Co 161 2080 806
Cede & Co 161 2081 645,000
Paine Webber Inc. 161 2082 592
Paine Webber Inc. 161 2083 592
Paine Webber Inc. 161 2084 592
Paine Webber Inc. 161 2085 592
Penson Financial Services 161 2088 44,589
This action means that there are in effect no BCIT certificates with the cusip ending 106 in existence. It also means that the DTCC can remove the global lock on BCIT shares cusip 05968X106 and make the correct active cusip 05968X205 fully active as there are no securities to lock. I should state that the shares on the current active cusip are not subject to a DTCC lock and are free to be delivered
CEO & President
Bancorp International Group Inc