Metavesco Inc (MVCO)

[KingsKnight]

Share Grab has started for this Shell...
6M O/S, $1.2M Cap, Pink Current Shell
https://www.otcmarkets.com/stock/WSCC/security

[Special Situations]

UNITED STATES OF AMERICA
BEFORE THE
SECURITIES AND EXCHANGE COMMISSION


INVESTMENT COMPANY ACT OF 1940
Release No. 33847 / April 22, 2020

In the Matter of
WATERSIDE CAPITAL CORPORATION
140 West 31 st Street
2 nd Floor
New York, NY 10001
(811-08387)



ORDER UNDER SECTION 8(f) OF THE INVESTMENT COMPANY ACT OF 1940
DECLARING THAT APPLICANT HAS CEASED TO BE AN INVESTMENT COMPANY

Waterside Capital Corporation filed an application on January 18, 2018, and amendments to the application on June 4, 2018, October 30, 2019, June 12, 2019, August 26, 2019, December 20, 2019, and February 26, 2020, requesting an order under section 8(f) of the Act declaring that it has ceased to be an investment company.

On March 4, 2020, a notice of filing of the application was issued (Investment Company Act Release No. 33810). The notice gave interested persons an opportunity to request a hearing and stated that an order disposing of the application would be issued unless a hearing was ordered. No request for a hearing has been filed, and the Commission has not ordered a hearing.

The matter has been considered and it is found, on the basis of the information set forth in the application, as amended, that applicant has ceased to be an investment company.

Accordingly, in the matter of Waterside Capital Corporation (File No. 811-08387), IT IS ORDERED, under section 8(f) of the Act, that applicant’s registration under the Act shall
immediately cease to be in effect.

For the Commission, by the Division of Investment Management, under delegated authority.


J. Matthew DeLesDernier
Assistant Secretary



https://www.sec.gov/rules/icdereg/2020/ic-33847.pdf

https://www.sec.gov/rules/icdereg.shtml

[$b_rich$]

If I'm understanding this right, It looks to me like they're trying to find a company to merge with?

https://ih.advfn.com/stock-market/USOTC/waterside-capital-corp-pn-WSCC/stock-news/81404907/application-for-deregistration-pursuant-to-rule-0

[$b_rich$]

As of September 23, 2019, there were 1,915,548 shares of the registrant’s common stock, $1.00 par value per share, outstanding.

https://www.otcmarkets.com/filing/html?id=13665076&guid=FBtfUFr_Dsnj23h


Talk about a low floater, lol!

[e-ore]

If there wasn't something in the works they'd enter bankruptcy. Worth the risk to hold a little with this share structure, imo

"Upon termination of the Receivership, Roran took possession of all books and records made available to it by the SBA, and Roran expended, and has continued to expend, its own funds to maintain the viability of the Company. The termination of the Receivership also caused a new board of directors to be appointed (the “ New Board ”). The New Board considered a variety of options for the Company, including bankruptcy. The New Board determined that such action made scant sense as the Receivership had the same basic result as bankruptcy. Another option was to merely liquidate and legally dissolve the Company, which would result in the complete loss of investment by all shareholders. Roran provided assurances that it would fund reasonable expenses of the Company so long as progress was being made to reorganize the Company and to identify either (i) a new business to undertake; or, (ii) an existing business with which to merge or otherwise acquire. The New Board has continued to work toward achieving that goal."

"We anticipate that various prospective target businesses will be brought to our attention from various sources, including securities broker-dealers, investment bankers, venture capitalists, bankers and other members of the financial community, including, possibly, Roran"

Virtu falls in the above category

https://www.otcmarkets.com/filing/html?id=12949918&guid=bZo3UKDQe9DC23h

[adijas]

Hope it works out well. We'll see.

[madpirate]

I agree the debt is a concern. Being said I am holding and adding as I think there is money to be made from these levels. The positive I see right now is the share structure has not changed in awhile. As long as that stays consistant we got a good chance to have a homerun here if a RM is announced IMO

[adijas]

Maybe, I don't know. It's a weird shell. Great SS, but that debt...

[madpirate]

Could that debt not be restructured since the shell owner also owns the debt?

[adijas]

Yeah, but it's a lot. So the question is will a new owner buy a shell with such a debt?

[Special Situations]

Form 10-K (June 30, 2018).


Upon termination of the Receivership, Roran took possession of all books and records made available to it by the SBA, and Roran expended, and has continued to expend, its own funds to maintain the viability of the Company. The termination of the Receivership also caused a new board of directors to be appointed (the “ New Board ”). The New Board considered a variety of options for the Company, including bankruptcy. The New Board determined that such action made scant sense as the Receivership had the same basic
result as bankruptcy. Another option was to merely liquidate and legally dissolve the Company, which would result in the complete loss of investment by all shareholders. Roran provided assurances that it would fund reasonable expenses of the Company so long as progress was being made to reorganize the Company and to identify either (i) a new business to undertake; or, (ii) an existing business with which to merge or otherwise acquire. The New Board has continued to work toward achieving that goal. With no assets
and no SBIC license from the SBA, no income, and liabilities in excess of $10,000,000, the New Board concluded that continuing to operate as a registered investment company was impossible.



ITEM 12. SECURITY OWNERSHIP OF BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.

The following table provides information regarding the beneficial ownership of our common stock as of September 04, 2018, which is also referred to herein as the “Evaluation Date”, by: (i) each person or group who is known by us to beneficially own more than 5% of our common stock; (ii) each of our current directors; (iii) each of our named executive officers as set forth in Item 11 of this Annual Report; and, (iv) all such directors and executive officers as a group. The table is based upon information supplied by our officers, directors and principal shareholders and a review of Schedules 13D and 13G, if any, filed with the SEC. Unless otherwise indicated in the footnotes to the table and subject to community property laws where applicable, we believe that each of the shareholders named in the table has sole voting and investment power with respect to the shares indicated as beneficially owned.


Applicable percentages are based on 1,915,548 shares outstanding as of the Evaluation Date, adjusted as required by rules promulgated by the SEC. These rules generally attribute
beneficial ownership of securities to persons who possess sole or shared voting power or investment power with respect to those securities. In addition, the rules include shares of our common stock issuable pursuant to the exercise of stock options or warrants that are either immediately exercisable or exercisable within 60 days of the Evaluation Date. These shares are deemed to be outstanding and beneficially owned by the person holding those options for the purpose of computing the percentage ownership of that person, but they are not treated as outstanding for the purpose of computing the percentage ownership of any other person.

https://www.mediafire.com/convkey/a5bd/3h7t6l2zw9s15lzzg.jpg



Form 10-Q (December 31, 2018).


The Company’s outstanding judgment payable owed to the SBA was purchased by Roran from the SBA in July 2017. As such, all amounts due under the outstanding judgment payable are now owed to Roran rather than the SBA. Upon purchase, the Company began to accrue interest that was due under the original terms of the judgment payable. The statutory interest rate is 0.094%. The Company has accrued $161,645 in interest on the judgment payable as of December 31, 2018.


On September 19, 2017, the Company entered into a Convertible Loan Agreement with Roran (the “Loan Agreement”). Pursuant to the Loan Agreement, Roran agreed to loan to the Company an amount not to exceed a total of $150,000 in principal over 18-months. Each advance under the Loan Agreement will be documented under a Convertible Promissory Note issued by the Company in favor of Roran (the “Note”). The Note bears interest at the rate of 12% per annum and is due in 18-months. Roran has the right to convert all or any portion of the Note into shares of the Company’s common stock at a conversion price equal to 60% of the share price. As a result of the advances made pursuant to the Loan Agreement, the Company has incurred total obligations of $139,338 as of December 31, 2018. The Company recorded a BCF due the conversion option of $86,800, and the unamortized balance at December 31, 2018 is $25,517. The amount is netted against the note payable balance as a debt discount with the corresponding entry to additional paid-in capital. The debt discount has been amortized as interest expense through the maturity date in March 2019. The Company is currently negotiating with Roran to extend the due date and provide additional funding.


P.S.

$11M Debt + Convertible Securities.

Dirty Shell. IMO.

[ThirdSyte]

Is this, ($10,742,042) in your findings, the total current debt?

[madpirate]

A lot of shares being bought below .07. Seems odd that this many shares are available with an OS less than 2 million.

[itsthebox1]

Getting some action

[TTIME]

Waking up a little

WSCC $$

[TTIME]

Maybe something happening behind the scenes ?
WSCC $$

[adijas]

another Q out https://backend.otcmarkets.com/otcapi/company/sec-filings/12748265/content/html

[madpirate]

I really like the opportunity with this stock but what is the deal with the SBA liability of over 10 million. What company would want to do a RM with that amount on the balance sheet. Really does not make sense to me.

[adijas]

10q out https://backend.otcmarkets.com/otcapi/company/sec-filings/12705924/content/html

[adijas]

Bought some

[JA9791]

WSCC first filing 10k:

https://www.otcmarkets.com/stock/wscc/disclosure

[TTIME]

Boomage coming !!

Imo

WSCC $$

[Mistr Tommy]

$WSCC 10k out. From the 10k "The Company will now seek to either (i) enter into a new business; or, (ii) merge with, or otherwise acquire, an active business which would benefit from operating as a public entity. The New Board has undertaken a search to identify the best possible candidate(s) in order to provide value to the shareholders of the Company."

current market cap is only 38k!
1.9 million share OS

[TTIME]

Any word on when something might happen ?

[stocks2watch]

Why is this down 50% with R/M coming?

[ALERTS100%to10000%GAIN]

WSCC O/S 1.9m and Float 1.9 M


moves easy and I buy stocks only with CLEAN MM'S on L2

[ALERTS100%to10000%GAIN]

WSCC~~GREAT NEWS HERE Status: Active
Shares Authorized: 10025000


Principal Office
140 WEST 31ST STREET
2ND FLOOR
NEW YORK NY10001

Registered Agent/Registered Office
CT CORPORATION SYSTEM
4701 COX RD STE 285
GLEN ALLEN VA 23060
HENRICO COUNTY 143
Status: Active
Effective Date: 6/29/2015

https://sccefile.scc.virginia.gov/Business/04122891




Pursuant to Rule 0-2(f) under the Act, Applicant states that its address is 140 West 31st Street, 2nd Floor, New York, New York, 10001. Applicant further states that all communications or questions concerning this Application or any amendment thereto should be directed to Keith A. Rosenbaum, SPECTRUM LAW GROUP, LLP, 1900 Main Street, Suite 300, Irvine, California, 92614; 949-851-4300, ext. 212.



It is hereby requested that the Commission issue an Order pursuant to Rule 0-5 under the Act without a hearing being held.



Applicant has caused this Application to be duly signed on its behalf on the date and year set forth below.



WATERSIDE CAPITAL CORPORATION

By: /s/ Zindel Zelmanovitch
ZINDEL ZELMANOVITCH,
Chief Executive Officer


Dated: 17 January 2018

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=137786002

[ALERTS100%to10000%GAIN]

WSCC~~https://sccefile.scc.virginia.gov/Business/04122891

[ALERTS100%to10000%GAIN]

WSCC~~.10 ,buy before the R/Merger NEWS , WILL BE CRAZY HUGE

[ALERTS100%to10000%GAIN]

WSCC~~I see a huge move here to DOLLARS,will be late if not buying now,FAT R/MERGER here anytime[/b]

[ALERTS100%to10000%GAIN]

WSCC~~.10 up, R/MERGER anytime,wow never seen like this, L2 clean and OPEN to DOLLARS

[ALERTS100%to10000%GAIN]

WSCC~~.05 now,20k left to .14, WOW,R/MERGER anytime

[ALERTS100%to10000%GAIN]

WSCC~~150% upL2 crazy thin,.08,.10,.14, R/Merger news anytime,will trade in Dollars here

[ALERTS100%to10000%GAIN]

WSCC~~people when the R/Merger news will drop here,is gonna move in the air,goud move fast to .30-.50 cents in 5 min,.this is a low Float MONSTA and will trade in DOLLARS very shortly

[ALERTS100%to10000%GAIN]

WSCC~~.05,,L2 .08,.10,.14,,150% UP, R/MERGER here, BOOM

[ALERTS100%to10000%GAIN]

b]WSCC~~ROGAN is in charge here, he got the dots here and a merger also,

Prior to the submission of this Application, Roran directed, and paid for, Applicant to file all delinquent SEC filings as a registered investment company. Applicant believes that as of 28 June 2017 it ceased to be an investment company so it did not file as a registered investment company for the period ended 30 June 2017. Instead, Applicant will file a Form 10-K for that period. Applicant intends to file that 10-K as soon as practicable.

Through the authority vested in Roran under the Final Order, Applicant has engaged, and intends to continue to engage, qualified professionals and personnel in order to bring Applicant current in its SEC filings and audits.


and here
Roran has undertaken a search to identify the best possible candidate(s) in order to provide value to the shareholders of Applicant.

[ALERTS100%to10000%GAIN]

WSCC~~call for $5.00 PPS (10,000% GAIN )possible CRYPTO,BLOCKCHAIN coming here


huge coming read https://investorshub.advfn.com/boards/read_msg.aspx?message_id=137786002

[ALERTS100%to10000%GAIN]

WSCC~~Further, Applicant’s management is actively reviewing a number of merger, development, business, and acquisition opportunities, and anticipates a transformative transaction in the future.

[ALERTS100%to10000%GAIN]

WSCC~~Roran provided assurances that it would fund reasonable expenses of Applicant so long as progress was being made to reorganize Applicant and seek a new business to undertake or to merge with an existing business. The New Board has continued to work toward achieving that goal.

[ALERTS100%to10000%GAIN]

WSCC O/S 1.9m and Float 1.9 M

[ALERTS100%to10000%GAIN]

as soon the R/MERGER NEWS comes ,WSCC will see dollars in the same day, on high buy Alert

[ALERTS100%to10000%GAIN]

WSCC~~HUGE COMING~~Roran has undertaken a search to identify the best possible candidate(s) in order to provide value to the shareholders of Applicant.

[e-ore]

I'm still holding. How can you not hold a shell that has new management, is getting current and has a market cap of less than $100,000? My mini WSCC position might one day find its way out of the bargain bin. Just have to play them with money you can park for a while, at least until the 10k comes

[ALERTS100%to10000%GAIN]

WSCC~~big run coming here https://ih.advfn.com/stock-market/USOTC/waterside-capital-corp-pn-WSCC/trades

[ALERTS100%to10000%GAIN]

WSCC~~when the news will come ,will be late to buy

[KOmani]

Most market professionals spend time with family on the weekend.

Not hypothesizing about a fantasy.

[Cache]

Wow, what happened to everyone? Did everyone abandon the board? Can't say I blame 'em. This stock is going nowhere anytime soon!

[Sprycel]

Well looks like this one turned in another failure! Can't wait to see the next one!

[KOmani]

Bid and Ask have not changed size.

Iceberg buy order on bid.

Tick Tock.

[Sprycel]

OMG, it is red!!! DOWN 40%!