A LITTLE DD EXERCISE, or am I just being mean.
YRLS is a new one on me, but if you scramble those letters a bit, you'll find a shell that I bought a few of yesterday, on the bid at .14, after two days of trying.
LOL so here's a little contest, figure out the symbol, it closed at .13 today.. with b/a of .13 x .17
I don't like the ugly spread, and it's been worse, like .13 x .21 at one time, so hadn't mentioned it yet.
All I know, it's a reporting shell, been a shell since I think 1993. Then on January 7, 2000 they made four filings.
Filings are at Edgar, but are not in proper order. There is a 10K to Jan 1/99, a 10Q to July 31/99, a 10Q to April 30/99 and finally a 10Q to Oct 31/99.
O/S is 10MM. A friend managed to track down the "owner" in NYC by phone. He was told that 7MM of the O/S is in "friendly" hands, making the "loose" float about 3MM, that they are looking at a couple of deals now, but are open to offers, and for a little bit of "hype" he'd like to see the stock at .40.
From the last 10Q:
"The Company has no sources of revenue. Expenses reflect only the minimum cost of
maintaining the Company's operations and miscellaneous expenses associated with
seeking a merger partner. In view of these limited operations, management does
not believe that a comparison of specific line items from period to period it
would be meaningful.
Liquidity and Capital Resources
The Company's financial statements have been prepared assuming that it will
continue as a going concern. As shown in the financial statements, at October
31, 1999 the Company had total assets of $7,137 and an accumulated deficit of
$7,401,773. The Company obtains its entire financial support from loans from the
Company's majority shareholder. As January 15, 1999 all outstanding shareholder
loans, as well as all outstanding preferred stock, were converted into common
stock. However, it is likely that additional loans from that shareholder will be
necessary if the Company is to pursue its plans to merge with an operating
enterprise. These factors, among other things, raise substantial doubt about its
ability to continue as a going concern. The financial statements do not include
any adjustments relating to the recoverability and classification of recorded
asset amounts or the amounts or classification of liabilities that might be
necessary should the Company be unable to continue in operation."
One more hint, every day I've watched it, they've closed it on, or well below the bid. Last Fri I believe they closed it at .10 with a b/a of something like .14 x .21 |
