Energy Source Inc., Formally Traded as Bancorp International Inc., Announces Share Update Thursday December 11, 7:21 am ET
OKLAHOMA CITY, Oklahoma, Dec. 11, 2008 (GLOBE NEWSWIRE) -- Energy Source Inc., formally trading as Bancorp International Inc, BCIT, announces that The Company has yet to conclude arrangements for clearing its shares. The Board of Directors is of the firm belief that having met all the necessary reporting requirements The Company's shares will imminently be clearable.
The Company is actively negotiating an acquisition and will inform shareholders as to the progress.
Contact: Energy Source Inc. B. Wakeling 00447961 992 681
This is a grassroots shareholder group endeavoring to get the DTCC to remove the "Global Lock" keeping BCIT from trading. Please visit the website and discussion board and join in our efforts!
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quote:Dear Chairwoman Schapiro: As the Ranking Member of the Committee on Finance and a senior member of the United States Senate, I write to you today in reference to a series of complaints that my office received regarding an alleged fraud perpetrated against a private company, which allegedly resulted in financial hardship to numerous private investors. According to the complaints received, in February 2005, several individuals illegally assumed the corporate identity of Bancorp International Group, Inc. (BCIT), now known as Energy Source, Inc. The complaints go on to allege that BCIT then went on and sold millions of shares in fraudulent company stock. It was alleged further that upon learning of the fraud, the U.S. Securities and Exchange Commission (SEC) suspended trading and filed a civil action (No. 08-CV-353) against Mario Pino, the individual that was reportedly responsible for perpetrating the fraud. The SEC ultimately received a judgment against Mr. Pino in the amount of $426,756 dollars. There are several issues that the complainants brought to my attention regarding this fraud. Accordingly, I request that my Committee Staff be provided with information and/or a briefing regarding the allegations set forth in the letter. Please have your staff contact Brian Downey of my staff at (202) 224-4515, no later than July 27, 2009 to make arrangements to discuss this matter. I request that the SEC be prepared at a minimum to address the following questions: