He bought an E stock that is a 'developmental stage' company, meaning no active operations, no revenue, no cash on hand. Specifically, UNICE.OB
Worse, it appears that there may be a criminal investigation in progress, and tracing the major shareholder turns up major holdings another company, CCCX, that appears to be playing the same game, round two.
Both companies appear to be monetizing a mineral asset, Zeolite, which while a legitimate mineral, may be replaced by cost effective synthetic forms.
I'm reluctant to look much further, as each new finding turns my stomach. Of course, this might all be on the up and up, but with just tatters of info available, the picture that comes through isn't pretty.
Regarding the bidless emergency, I was telling my brother that in extreme cases, that could hold true for almost all stocks, say China were to declare war on the US. A low probability event, but one that would likely sieze up the US financial markets, IMO.
Edit {Future reference}
These uses of zeolites are extremely important for industry, although synthetic zeolites are now doing the bulk of the work
galleries.com
Reported in Houston Chronicle-
July 11, 2000, 1:00PM
(PRN) Centre Capital Corp. President Karl Jacobs Announces the Acquisition Of Zeolite From Equitable Assets Incorporated
FORT WORTH, Texas, July 11 /PRNewswire/ -- Centre Capital Corp. (OTC Bulletin Board: CCCX) (http://www.cccx.net) President, Karl Jacobs, announced today that Centre Capital Corp. has acquired 58,286 tons of ZEOLITE, from Equitable Assets Incorporated. The 58,286 tons of Zeolite is worth $11,307,428 (Eleven Million Three Hundred Thousand Four Hundred and Twenty Eight Dollars). In exchange for the Zeolite, Equitable Assets Incorporated received from Centre Capital Corp 1 Million shares of CCCX common stock. Centre Capital Corp is debt free and clear in regard to this acquisition.
Moreover, Centre Capital Corp paid $194.00 per Ton; the retail value direct to the consumer is worth a range of $20,000 to $30,000 Thousand Dollars per Ton. Louis Mayor, President of Equitable Assets Incorporated said "We are thrilled to be involved with a company like Centre Capital Corp. and look forward to the great things that will come out of this relationship." Centre Capital Corp's company VISTA INTERNATURAL PRODUCTS (VIP) will market the Zeolite direct to the consumer. This asset could qualify CCCX for trading on NASDQ Small Cap or the American Stock Exchange. Centre Capital Corp plans to apply to trade on the NASDQ Small Cap or The American Stock Exchange. |
