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Microcap & Penny Stocks : SHAL
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To: blankmind who wrote (141)4/13/1999 4:33:00 PM
From: jjs64  Read Replies (1) of 941
 
Their 10K for 1997 is awfully late, considering it's now April 1999. For those who are raving about the SIPOD program....its a fancy name for a back-door technique (The registered spinoff) to get stock publically traded without SEC filings....ie a way to generate more scam companies (its like a reverse merger in that way, but you don't need another shell)

Here is how it works, the company to be spun out gives ownership interest to an already publically traded company, the publically traded company then performs a "Dividend" by spinning out the NewCo shares to existing stock holders as a dividend. The shares are now able to be traded....instant non-filing, yet trading, stock....And, the insiders can sell!

This is especially popular for non-US fraud companies to go public. This is a way for foreign companies to be traded on the OTCBB in the USA, but retain their foreign status for filing and tax purposes.

The registered spinoff trick is the same one PMKY tried to do in January with Houston InterWeb Design.

Buyer Beware!
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