Unfortunatley some of us that have been into this stock for a while can't really sell unless we want to take some major losses.
In a way I think that may of the long tern shareholders want to wait until the end of this ordeal, It's like you don't want BNEZ to beat you, you will hang out till the last day. Until they close the doors at BNEZ and file bankruptcy, many of us will still be here.
As for my update on the spin offs.
My neighbor has been doing investment banking for about 1 year now and finally knows a little bit about what he is doing.
I told him the situation about BNEZ and he said they shouldn't have any problems getting the okay from the sec for the shells. He said the problem right now and this goes for apparently everyone trying to do deals, Is that the SEC is just snowed under with work and forms. You have all these net companies trying to go public and filing forms and then all the regular companies on top of that. The sec isn't hiring any new people, so it is file your paperwork and wait in line.
He told me that if the SEC has one question about your forms, they send you back a letter wanting the info, once they receive it, they have up to 30 days to respond if it is okay or they need more info.
I told him they have been working on the shells for over 6 months now and he said probably another 90 days to finish it all up.
He told me that if the SEC gives approval, good clean shells are worth alot of money right now because the wait is so long to do an IPO and all the forms etc. He said the shells could be the best thing that will happen out of this whole ordeal for us. He says if BNEZ takes the shells, get them trading, then announce some reverse mergers, It could be a couple bucks per share, each one. Which would be nice. But it seems like we are still at the hands of the sec. He also said that if the SEC wasn't going to approve the shells, they would have let BNEZ known a couple of months ago.
he told me to just hang tight and let the sec do their thing. he said they have over 12 projects that they have been working on that are over 6 months old now also.
I told him the company announced that they should have the shells trading by jan 1st, but he said they should have said more like April to June 1st. It could take up a almost a year. But since all three are coming from BNEZ, they should approve them all at once.
so anyway, this is just an opinion from my neighbor so take it for what it is worth.
IMHO
mitchell
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