Can anyone please tell me why this wont work! Thanks so much!

#!/bin/sh

for file
do
case $file in
*.*.*)
echo Cannot have more than 1 dot
exit
;;

*'**'*)
echo Cannot have more than 1 asterisk
exit
;;

*'*'*|?.)
echo this is a target

;;

*)
echo This is a file
item = file
;;
esac
done

if [! -e "$item"];
echo The File does not exit
exit
fi

It just says Item not found? Thanks