Stan, a fully reporting trading shell goes for min. $300k. There are a couple of ways to get it done. One is that you leave the stock structure as is until you find a buyer. Then the buyer will reverse it so that the seller keeps around 90% of the stock, the buyer gets the rest. So, after the reverse and the new stock isuance for the buyer, in a 10 million share company you can do the math. We are not talking about a 1 for 10 reverse here folks. They will gut your position out so that the current shareholders are only going to own between 30,000 and 1 million shares, down from the 50 million or so that is currently out there. And guess what? It is a Nevada corp., they don't even need your approval, the Board can vote it at any time. No one will touch the shell until the BK stuff is done, too much of a liability still in it.
If it was me running the shell I would reverse the common down to around 100,000 shares to give me a small float then through some pretty cool Nevada laws issue a preferred stock that would give me voting control of the company and also around 9.9 million shares of common stock in a placement right here at a discount to the bid. The reverse would be a huge one, in essence, all the current shareholders are almost wiped out. All this will happen in the course of a couple of months. Then find a buyer over the next year or so and it's about ready to go. The current volume and price mean nothing, the deal is done. Shells trade at $1, $3 even $5 with nothing in them.
Also, the post on RB from Cindy about Select Capital being sued and losing for not honoring their funding agreement... Select Capital was the 504 king a few years back. They would do a 504 placement offshore then pound the stock. They were convited by the SEC and if you do a little digging you can see that all was not on the up and up. The equity line PNLK entered into to can only work when there is sufficient volume (pump) in the stock so Waveland could sell the stock that was registered (remember the 20,000,000 shares). Waveland never did anything wrong, there just wasn't enough volume or time to make it work. If you read the agreements, PNLK was informed that Waveland can only do their job when certain conditions are met, they were never met.
I think JPC got tired of funding it and all the stock crap that people caught on to. They couldn't continue to do what they had been doing for the past several years, so why keep it going? There was a ton of money made on the deal by JPZ and the gang. Why push it? They now go BK, it will eventually make it's way through the system and the losers in the end are the shareholders. GZ is off riding his tricycle at the Poultry Mart, JPC ends up on the French Riviera and that list of 144 sales made all the money.
I wonder if anyone has informed GZ's current clients about his role with PNLK? |
