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Microcap & Penny Stocks : EBAS- A SLEEPING GIANT...NEXT EXPLOSIVE FIELD
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To: Joe Bilich who wrote (57)11/16/1999 11:54:00 AM
From: paulmcg0  Read Replies (1) of 80
 
"This type of acquisition is a pretty common way of quickly taking an operation public with minimal hassle."

I did some checking on this -- it's called a "reverse merger" where a company buys a shell to go public. Apparently, the "minimal hassle" you are talking about is that they didn't have to file any financial reports with the SEC.

As I mentioned in a previous posting, without financial reports filed with the SEC, something that carries penalties for filing incorrect or misleading information, people have no way of knowing if a company is for real or is merely hype. There are OTC BB companies, like COII, that do file financial reports with the SEC, that may show a bad financial situation, but at least they let people decide for themselves about the viability of the company.
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