The most current release, of their Form 10QSB, with the SEC reveals a number of questionable issues:
Legal matters, Reverse Splits in the past, No operating profits, No revenues, etc. all since 1995 when they were formerly NEC Properties. Here's an excerpt from the 10QSB:
BANCORP INTERNATIONAL GROUP, INC.
NOTES TO FINANCIAL STATEMENTS
For the Six Months Ended March 31, 2006
1. THE COMPANY
N.E.C. Properties, Inc. (“NEC”) was incorporated on September 16, 1995, under the laws in the State of Nevada. NEC was organized with no operations or plan of business. On September 30, 1995 the Company issued 18,600 shares of its then no par value and 25,000 authorized common stock, for $1,860 in cash. On November 19, 1998 the State of Nevada approved NEC’s restated Articles of Incorporation, which increased their authorized common shares from 25,000 to 25,000,000, and established a par value of $.001 per share of common stock. In addition, in November 1998 NEC approved a forward stock split of 100:1, thus increasing the number of then outstanding common shares to 1,860,000. In addition, at that time the Company also authorized a 1.77 for 1 forward stock split in anticipation of merger transaction with March Indy International, Inc. (“March” or “March Indy”). The previously issued 1,860,000 common shares were now 3,613,249 common shares.
I'd stay away...very far away.
To read the entire report see
Source:
http://www.sec.gov/Archives/edgar/data/1076779/000110465906055836/a06-18029_110qsb.htm- Bill
Logged
Male
