Online Shell Exchange Membership Grows to 300 Organizations and 400 Shell Companies
Financial community adopting forum as premier resource for locating reverse merger prospects.
Atlanta October 2002 - Online Shell Exchange (www.OnlineShellExchange.com), an online forum provider for private companies wishing to identify reverse merger prospects, announced today over 300 organizations have registered to use the service since inception. The forum, which specifically focuses on reverse merger transactions opposed to initial public offering (IPOs), is rapidly being adopted by the financial community as the premier site for locating reverse merger prospects.
Bob Preville, president of Online Shell Exchange notes, "Approximately 150 companies have listed their profile on the site in search of a suitable shell company for reverse merger. We have seen a wide variety of company sizes, industries and business models. The site is popular among intermediaries including brokers, investment bankers, lawyers, accountants and transfer agents, who are representing their clientele. There have also been several international deal opportunities."
"The reverse merger market is fragmented," notes Preville. "The dot-com bubble burst forced many public companies to cease operations, leaving nothing but their (shell) legal entity. Principals of these entities are looking at reverse mergers as a means to recoup some kind of investment and the Online Shell Exchange makes it easy for them to do so."
Online Shell Exchange has made several enhancements to its website to increase the value delivered to the forum's members. Currently, private companies searching for a shell company may list on the exchange for free. Shell companies pay a $99/mo subscription to be notified and have access to private companies as they list.
About Online Shell Exchange
The Online Shell Exchange is the single largest aggregation of private companies, public shell companies and intermediaries seeking the reverse merger strategy. Launched in January 2002, Online Shell Exchange allows deal planners to prospect without having to pay costly commissions and brokerage fees to third parties. By eliminating the inefficiencies that once existed in the due diligence process, Online Shell Exchange creates a qualified forum, managed by proprietary technology, for users to quickly and effectively conduct business.