United Rail Inc. (URAL)

Formerly trading as XTRN, United Rail, Inc. (URAL) described itself thusly:

United Rail, Inc. is in the business of acquiring short line railroads in the passenger operations sector . The company has been active in this space for five years. It has operated the Santa Fe Southern Railway, WSRY, X Wine Railroad. It also owns the Las Vegas Xpress, Inc. on the planned LA to Vegas X Train service as well as Key Holidays, the longest running Casino passenger train service in the country. The Company is a profitable operation and has an acquisition program currently underway to acquire three passenger rail properties.

However, this is no longer the case! As of 12/15/2019, URAL is now a clean trading shell with less than $10,000 in debt/liabilities! All of the shell's liabilities were assumed by "United Rail" (a separate private corporation), in exchange for its assets, as can be seen here.

"On December 15, 2019, United Rail, a Nevada private corporation, acquired rail projects from United Rail, Inc. The consideration for this acquisition was assuming liabilities associated with the projects: convertible notes of $781,259, accounts payable of $133,660, accrued expenses of $159,826, accrued interest of $227,041 and accrued payroll of $368,790.Based on that the balance sheet as of December 15, 2015, hasbeen adjusted as reported in this supplemental statement on 12/18/2019, to reflect the acquisition."

 The principals are now looking to sell the shell, seeking legitimate candidates for a reverse merger.