DRIP the trading symbol for faucet seller Spa Faucet was once the great hope of ECO2 shareholders, in that ECO2 once claimed (when there were still people around to claim things) that to own 51% of it. It's stock soared, split, announced an imminent plan to be listed on AMEX... and many ECO2 investors were swindled again by being encouraged to invest also into DRIP.
DRIP dropped long ago -- after ECO2 somehow sold its interest back to DRIP's principal shareholder for almost no money. The real crash came after an aborted merger with a company trading symbol HMAT which was perhaps part of the ECO2/DRIP peas under a walnut shell of illusions. As recently as July DRIP had some value (around 40 cents / share), but has since dropped to nothing.
Apparently, DRIP entered backrupcy Aug 31st, at least if I am reading this report correctly
CALIFORNIA SPA FAUCETS, INC.
8/31/98
Plumbing faucet wholesaler, Chatsworth, CA
ASSETS: 2,240,000
No. 98-22101
LIABILITIES: 7,017,794
CHAPTER 11
PRINCIPAL: Leonard Sudman
CONTACT: Steven M. Spector, 2049 Century Park East, 34th Fl.
I love post-scrips don't you? Charlie Ledford sailing off into the sunset on a powerglider fueled by old tires.... are you making a film of your adventure? I'd buy a ticket.... |
