To: Buckey who wrote (2398 ) 3/17/2012 3:59:25 PM From: Glenn Petersen Respond to The “reborn” SPACs are a mixed bag. Ascend Acquisition (stock symbol: ASCQ) , primarily because of the involvement of Jonathan Ledecky. UAN Cultural & Creative Co. (stock symbol: UCCC), whose thinly traded shares have a market cap in excess of $150 million, may be worth $1.5 to $2 million tops. The company owns and operates an art gallery in Luzhu Township, Taiwan. It is too bad that there are no available shares to short. Golden Gate Homes, Inc. (stock symbol: GNGT), which has a market cap of approximately $270,000, describes itself as being in the business of, ”acquiring and reselling high-quality, distressed residential properties in the U.S. to international buyers, primarily from China and other parts of Asia.” Good luck with that. Global Services Partners Acquisition Corp was unable to close on their proposed transaction with the video game publisher SouthPeak Interactive Corporation (stock symbol: SOPK), they liquidated the trust fund, retained their corporate existence and executed an alternative transaction to acquire and finance SouthPeak. Unfortunately, they did not raise a lot of money and SouthPeak, which has real revenues (over $40 million in 2010), is close to being insolvent. I would avoid it. Pinpoint Advance Corp. (stock symbol: PPAC), which is essentially a bet on a lawsuit. Unfortunately, I can find no evidence that either class of common shares are trading. PXIA ), Affinity Media International Corp. (stock symbol: AFMI ), Santa Monica Media Corporation (stock symbol: MEJ ) and China Healthcare Acquisition (stock symbol: CHM ) have terminated their registrations with the SEC and gone dark. Israel Growth Partners Acquisition Corp. (Class A stock symbol: IGPAA ), which has a market cap of approximately $1.8 million, is still a reporting company.
