They filed a form 10 today. It's a hoot.
edgar-online.com
This was a Vancouver shell company, and it trades on the OTC:BB, so get out the big basket of red flags.
You might think shell, aha, they did a reverse merger with somebody who wanted to go public the cheap way.
But no, they did something much less substantial.
It was a shell that decided to creep into an active status by doing a private placement to raise a few bucks, with the emphasis on FEW, so that they could spend $19,000 for somebody to develop their custom website, which promotes pseudo-science cancer cures made from shark extract or some such thing.
The dollar figures in the financial statements are tiny, tiny, tiny. As would befit an inactive shell.
Yet this thing has 10 M shares outstanding, giving it a market cap of $35 M.
Too bad we missed the pump a week ago. Maybe there will be another.
One thing I wondered about is the rule for disclosing bankruptcies. I thought that officer's bankruptcies within the last 5 years must be disclosed. Or maybe it was a different number of years. Nothing about a BK is mentioned in the filing, though. |
