Big Brother
7月前
I'd imagine whoever bought this, there would not be any debt in the end, the debt would be converted into like 50M shares or something and the merging company would then get like 98% of the o/s for the price paid.
So even if they paid $500K for this it would still be a good deal IMO, as it would be debt free and has nearly 20 years of SEC filings, with no gaps and that is pretty valuable. Its going to be FAR easier to get any corporate actions, or anything else regulatory that needs done with that kind of filing history, unlike these cheap custodianship shells. Good luck getting anything done with those ones that filed their Form 15 late and are missing filings....lol.
I mean I appreciate what the custodians are doing, bringing those old turds back to life and giving shareholders a chance to to recoup their money, as well as giving co's who want to go public a cheaper option.... but lets face it those shells are often crap. Many of them were run by scammers in the past and even with new ownership, you can't get that stink off.
Big Brother
7月前
I probably should have bought another 10K or so, I think that MM was trying to get rid of their shares before it went to Expert, I've seen it happen many times before, its a good time to pick up cheap shares but also risky bc you don't know if it will come back. This is one of the older shells out there, that has still not found a merger, so I really thought that was it, they were giving up.
They are at the point now, they have so much $$$s invested in it, keeping the SEC filings up, that they would need to get like $500K+ for it and that won't be easy. A lot of co's are using these cheap $150K or $200K custodian shells instead, with just OTC Markets filings.
I think they should lower their expectations, maybe try to get $400K, or even less but get to keep like 1M shares and sign a lockup agreement, so they can only sell a minimal amount per year. If the owners are Chinese they really need to call, Huayxin Capital, he's getting tons of mergers done recently, though I believe he speaks English as well.
Big Brother
7月前
Might be wasted money but in all the many years I've followed, I've never seen it so cheap, so I had to grab a little bit.
I could be wrong but if I remember correctly, I believe the owners of this shell are actually Chinese, even though Global Funds Holdings Corp is based in Canada. They have always struggled to find a merger candidate, all they have to do is call Sheng Danping at Huayixin Capital, he probably has loads of Chinese companies looking to go public but not enough shells. Very few people in China know more about the US capital markets, particularly the OTC and taking Chinese co's public than Huayixin.
https://hyxinvest.com
Big Brother
5年前
Yeah, been watching, I've noticed over the course of the past week or two, I've seen new bidders show up as well....which is rather unusual. Don't want to read too much into it just yet, but maybe something finally up here. The days of the shells like this, taking an eternity to find mergers are ending, so perhaps that lit a fire under them....lol.
Big Brother
5年前
That why I never put more into them, than I can afford to let sit for ages if need be, I can just put them in the pile and forget about them.
I actually had to liquidate almost all my stocks several years ago, to pay off some bills.....but I never sold my shells that I had accumulated cheeply....one, because I could not get anything for them, and two, because its usually a long, arduous process, picking up whacks here and there...lol, it's generally just not worth selling them until an RM occurs.
Thankfully, I was able to rebuild my account, on some of those shells I didn't sell..!!
Big Brother
5年前
Yeah, always liked this one, I just dont have enough shares...lol. If I had a client looking for a shell, this would probably one of my first calls, because it has a very high share delivery percentage, and Jordan has kept up with the SEC reporting for many years, without any big filing gaps.
Not sure how much time is actually spent looking for a RM though, and could take many more years to find one, but I think it's a good one to collect for the pile, because its so cheap, and has such a low float.
Big Brother
5年前
Ah, I see, I just bid sit on many of these old shells, and collect what I can here and there over time, this one has always been very tough to get.... and now someone gets 14K just like that........this strategy can be very frustrating at times....lol.
Especially in this current market, folks keep running up the bids on all the shells now it seems.
Big Brother
5年前
You still got your shares, or did you give up on this one...??
I've been the high bidder on this, on and off, for ages now, can hardly ever catch a whack....then someone jumps my bid this AM, and gets whacked 14K shares....lol...good grief, unreal.....I would have gladly taken those.