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"Fools make feasts, and wise men eat them."
Good luck with their .01 theory.
Lol, your funny. Sure I'll buy your shares tomorrow with Iceland money for .01. I trade naked stock options, hint the name, I just love watching stocks with fake inflated assets pretend there market cap is actually worth something (5 mill) when in reality its not worth anything (100K). Then you MOMO players come along and push up the stock price artifically so the companies executives can sell there preferred stock and dilute at a higher inflated price then where it should be (.0005).
This isn't new to me, I've been around the block for years.
Good luck to you.
If this goes to a .01 tomorrow. The SEC will be all over this stock and probably hault trading so good luck.
Black, I still don't understand what your talking about.
who is the "crew"
This is not a long term stock. Buyer's BEWARE.
Nope, this isn't a good company. PHGI cooked there books its plain and simple. PHGI bought a radio station from John H. Beebe CEO for 180,000 when it was worth 60K. That is called Inflating assets and is very illegal. This is not a great company. They also have more liabilities then they do assets, which means they are insolvent. So they must dilute there stock to make payments. There is nothing great about this company. May I add, that they released 72 PR's last year and 10 of them were back to back stating that they moved 1 billion dollar mining claim in PHGI, which was not true and misleading to the public and also is very illegal. How is this a great company? A stock promoter can call me a basher, but this is the truth. This is not long term stock. Stay away!!!!
Or lose everything.
Reference the Worm06 blog.
Wow, that is alot of shares. I just hope they are not selling unregistered shares like USXP. I have one question, who is buying these worthless shares?
I have a question for the board. Who is Fred Wallace and why does he have the same phone number as PHGI business number. This guy lives in Lady Lake, Ft. Lauderdale, and Santa Rosa Beach.
Ok, I can see the house on Sat. View. on weather.com.
mapquest 201 King Ave, Eagle Grove, IA, zipcode. on the map
Then go to weather.com and go to the same area.
They reverse split your ass and you lose 98% of your money.
Scovanner
You have to search that address under google map (street) first find out where it's located, then go to weather dot.com and view's Taylor's house on Sat. View, It is not a commerical building. It's a home phone number guys.
That is funny.
It's funny. Another is PHGI. You type in there business number REGISTERED IN A SEC FILING in google and you get Fred Wallace's home address. Where is John Beebe???.. HMMMMMM. Makes you think now doesn't it.
You guys know you will own the same amount of shares after you are given the dividend right? It's a trick to make you think you will own more but in reality everyone will own the same amount of shares before and after the dividend.
Also, they just sold their shares for .02 which is .0002 of a penny instead of a dollar. what is 1.2 million converted too, Come on I know you guys are smart enough to do this equation.
Is it starting to make cense know.
Guess what the volume was today, 10% of the 10 million outstanding of what the JMCP people owned. It looks like they dumped their shares today. You people shouldn't be investing in pink sheets if you can't figure out how it works.
Good luck to you.
Guys, expect someone to reverse merge into this shell. They (JMCP) just pulled a Astrom. Expect a huge pump and then a huge dump back down to .0001. I give this a year and a half to go back down to .0001.
If you know what's going on, then why do you invest in it?
Great post by the way.
Then when you have enough buyers at the .0001 range, the bid becomes .0001 and the asking price becomes .0002. The broker dealers love this game.
JMCP sells there shares to the market maker for .000001 or whatever the bid is and then the Market Maker resells to you idoits for 0001. Easy money for both sides.
Nice post Rider, after the certified production cost calculation you can determine what's left over asset wise. Raw Materials. If I had land with gold on it, I wouldn't take any loans from any investors, because I'd be there 24 hours day getting it out myself. Then I'd trade naked with my gold.
It seems that the Bio-fuel operation is first on there mind. Feel bad for the TDWV shareholders, I'm suprised I haven't seen any lawsuits yet.
That is true Scovanner. Look at it this way though, you seem to be a smart fellow.
If there was 1 billion in gold in the ground on the land that you shareholders own, wouldn't you think you could walk up to a Wachovia and get a loan for 10 million dollars to buy equipment to get the gold out of the ground??
Any bank in the world would be happy to give this company a loan if they truly had 1 billion dollars of gold in the ground.
Someone smells fishy here.
Then you shouldn't be gambling EE. You must be the kid EE, Old people like me wait for the nervous sellers who dump there shares at the bid. Good luck, Life is one big Spread to me.
Patients is a virtue.
I'm expecting PHGI's growth to be lethargic, until the bio-fuel gets off the ground. They should move a little faster now since they seem to be on a website that is used to tell if companies are scams or not. It's really up to PHGI and there selling skills. They should release a PR stating how well the convention went in Orlando. Time will only tell.
The radio station isn't worth the 600K payble that was press released.
Does everyone on this board agree with me?? EE?
What is that a Qtr. Acre. that 10-20K trailer sits on.
Incredible Due Diligence Doggone. You are a Pink Sheet CEOs Nightmare.
That isn't reality it's actuality.
Good luck to the shareholders.
Please provide me a link to view your video coverage on PHGI's 600K radio station. Thx. PVT ME with the link if you want.
TN:AS
You don't need equipment to move out gold tailings. Does anyone know where the tailings went to, are the tailings still there or did bebee and co. take them away already. IMO, I think they already removed the tailings and compensated themselves. Why do you think they have the compensation committee.
What's the deal???
I agree with you Double E Sr.
Please take this into consideration. My concern for the shareholders and the general public is the improper accounting principles this companies managment used. According to JohnDoeA PHGI impropely inflated assets by buying the radio stations from John H Beebe at inflated prices. ()For Example: 1 radio station worth 150,000 dollars according to GAAP, sold to PHGI for 1,350,000, that might raise the stock price but that is dishonest to the shareholders and to the SEC.)
Here is a little lesson on cooking the books which i think the shareholders and the general public should worry about in the future. I never said that PHGI did cook the books but take these improper accouting practices into consideration.
A. Improperly Increased Revenue
A1. Sales recorded before completed and final
A1a. Goods shipped before sales final
Alb. Revenue recorded while future services still due
A2. Bogus revenue recorded
A2a. Supplier refunds recorded as revenue
A2b. Revenue recorded recorded from self-dealing
A2c. Revenue recorded from asset exchanges
B. Improperly lowered costs or expenses
B1. Current expenses shifted into later periods
B1a Period expenses capitalized onto Balance Sheet
B1b. Assets depreciated too slowly
B1c. Probable liabilities not accrued
B2. Operating losses masked in discontinued operations
Techniques to Sweeten the Balance Sheet
C. Improperly increased or shifted period income
C1. Currect expenses shifted into later period
C1a. Improperly capitalized costs as inventory
C1b. Assets depreciated or amortized too slowly
C1c. Worthless asset not written off immediately
C2. Shift revenue and income into later periods with reserves
D. Improperly increased assets and equity
D1. Increased equity through one-time gains
D1a. Report gains on exchange of similar assets
D1b. Report gains by selling undervalued assets
D1c. Retire Debt
D2. Report revenue rather than liability on receipt of cash
A formal 5 year agreement sounds like it was done by words not paper, which is odd but good for the company I hope they make millions upon millions for the shareholders.
I said 10 gallons as an expression in my sentence. All I was trying to say is that we don't know how the contract works. If it was a contract as a shareholder call Mr. Beebe and have him fax you a copy and paste it on the board for us EE.
You know what I think EE. I think multiple people use your alias Double E, because you are an idoit sometimes and never shut up about the dumbest things, and other times your grammar is as if you are from a Ivy League School. I think my assumption is correct here (Multiple People), which is weird, but hey isn't this board filled with people that PHGI pays, at least that was what Whistle said on this board wasn't it? Reading your posts in your profile is pretty funny. Some days you drink the stupid juice and others you don't? You just used perfect grammar in that post, that's amazing.
I'm through with this board.
Good luck to all of you.
clintonian, LOL. I did not have sexual relations with that women. In other words, My Cigar did!
"then a multi-million dollar contract with an established 30 year old company is bad news..."
Double E, and everyone else who wants to read my OPINION.
Who said it was a contract? In the PR where does it state that it was a contract. It's a formal 5 year agreement. They would have said it was a contract wouldn't you think???
The PR was a lack of information, but good for the company I quess. Who knows how the agreement works, They buy from PHGI in Batches or 10 gallons a week for 5 years? Who Knows!
Wouldn't you also think if they did agree on a formal agreement why would the Beebes be selling there preferred shares before the plant even opens?? This company is alot stranger to me then I thought.
But it's also a pinksheet, what I've learned is that Pinksheets are for personal uses only (to build capital for the owner of the shell). That saying was about 20 years ago before online sites PR'd/Pumped the stocks for thousands of investors to look at or to invest in.
That was a very slick PR, I give a kodus for whoever wrote it.
I thought that was funny too. This company is only focused on health. This is not diversity its stupidity. Warren Buffet worked for his shareholders, this guy works for himself, for example; Look at the salary and wages, commissions, consulting fees.
I think this is even more funny.
What do you call this huge mistake in the Filings: OPPPS, we Fked up???.
What do you tell your shareholders: Sorry we bullshitted you we had to restate or we would have gone to prison????
Look at those salaries and wages aka G&A expenses.
10K- Restated on 4/20
Net revenue $ 900
Cost of revenue
Gross profit 900
Operating expenses Amortization and depreciation expenses 2,180
Professional & consulting fees 5,704,458 Salaries and wages 5,633,822
General & administrative expenses 86,117
Annual Financials Released on 4/17
Net revenue $ 3,639,673
Cost of revenue 2,292,855
Gross profit 1,346,818
Operating expenses Amortization and depreciation expenses 256,742 Professional & consulting fees 2,276,609
Salaries and wages 545,005 General & administrative expenses 6,734,764
Why don't you email Patrick and tell him that.
contact Planet Earth at 803-517-7742 or patrick@planetearthengineering.com
patrick@robotscience.info.
This is about there company:
About
Planet Earth Engineering offers the highest quality of Engineering Services on the market today. Since 2007, we are providing superior service to our customers and have assisted them in achieving their goals. Our years of experience and commitment to excellence have earned us the new reputation as the best in the area. We offer expert engineers who are members of Planet Earth Engineering, these engineers have been pre screened and are the best in the industry, lead by Home Office Engineering of Planet Earth Engineering.
They look like a wholesaler for bio-fuel equipment with a touch of service on top.
Good luck to you Patrick LaRive. Planet Earth should grow Japathroa with HydroPonics and sell it as super Japathroa. Imagine instead of 5% potentcy, you get 35%. Less plants, more bio-fuel, more efficentcy.
Happy Holidays.
Didn't use spell check, because this board is my spell check, let me know if I spelled something wrong.
You guys are too kind to me.
"Then the lying b@$*%*&s lowered it to 155 million. Typical pinksheet huh?"
Your wrong EE,
Total (All Classes) Authorized Shares: 325,000,000.
He skipped every step EE, and just lowered the 30 billion to 155,000,000 Common Shares (He did say 155,000,000 but it wasn't the O/S which the shareholders thought it was and the big problem is that he failed to mention that he was going to issue himself and his family preferred shares. I can read all of the PR's, and when he said the 155,000,000 it was months later when he mentioned anything about the Preferred Shares being issued.
Not bashing, just making sure EE gets his facts right.
Pretty sure there bud, read the 10-q.
I'd think too, PQL
This company is trading at a little over 30 times BOOK value. That is absurd, They didn't even make earnings last qtr. If they did make .01 EPS, the PE would be 70 to 90 which is nuts. This stock in my opinion is way overvalued, it almost seems to me that it's inflated by manipulation. Not bashing, just telling the board my financial point of view on this stock. Good luck to you all.
In the future, if i own a shell, I'm assuming that it will take 72 PR's to dilute my stock from 50 million to 300 million. I'm going to write that down thanks PHGI. Can I see a picture of a actual road that leads to the mine, not just a rented bulldozer and a truck in the background. You need cement to make a road where it snows, if you don't use cement, the road will melt away with the snow. One picture makes a thousand questions.
Getting Soybean should be no problem with the plant. All phgi needs to do is trade Soybean on the exchange and have it delivered to the plant. When they have an over flow of soybean they can sell it back in the exchange. (May not be correct due to some standard laws of trading commudities). All I know is that Hershey did it trading Cocoa.
What is the deal with the plant being built. I saw a huge golf clubhouse be built from the time PHGI annouced that they had webcams set-up to now. The club isn't finished but you can tell it's a clubhouse.
I'm just curious John Beebe, you diluted to create capital. what the hell happened to all the capital??? You act like the company has no money like your broke but you diluted the stock from .47 to .0035. I quess if this was my shell I'd handle things alot different then you, John Beebe.
A little advise, you should do things by the book, not try to get away with everything that's illegal in the book. Now I know why you hired a top notch SEC attorney to tell you what you can get away with.
Just my opinion
I know this won't get deleted here: Good Read: I'm thinking about buying a shell and reverse merging my holding company in it. I make money so doing right to increase my value as well as my shareholders are in my best interest.
"The Truth about Public Shells and Reverse Mergers
One way many companies go public is through reverse mergers with public shells. When doing a reverse merger with a public shell it can be very expensive and there are several things you must be aware of."
"There are several types of public shells, which are all very expensive. They are also usually loaded with liabilities. If you reverse merge a company into a public shell (which usually has 100 or more shareholders and a lot of shares in the float) when the stock price goes up these 100 shareholders inevitably sell the stock and the price collapses. This can be detrimental to a company trying to grow through acquisition. This is far more expensive than the up front price paid to do the reverse merger with the public shell. Please keep this fact in mind when you are dealing with reverse mergers or public shells. This point is absolutely critical to understand. If you do not understand the importance of the public float your going public experience can be disastrous.
There are also non-trading public shell companies. These reporting companies usually have 1 or 2 shareholders and they are virtually useless. They are a gimmick used by stock promoters to sell you something. It actually takes longer than if you were to just take your own company public from scratch. The non-trading shells just add an extra step and do not save you anytime whatsoever. In fact they take longer than if you were just to start the process from scratch.
Many people think you need to do a reverse merger with a public shell to go public, which is incorrect. Others think that doing a reverse merger with a public shell is faster. Again this is another misconception. For example, to start trading on the Pink Sheets is very fast. A company can always move up to the NASD OTC Bulletin Board or NASDAQ later. Some companies choose to start out on the Pink Sheets and later move up to NASDAQ or the NASD OTC Bulletin Board. A company can also elect to begin trading on the NASD OTCBB from the outset.
Also recent changes in the law have made many practices dealing with reverse mergers and public shells fraught with problems. It is always recommended you have a very experienced Securities Attorney assist you whenever dealing with Public Shells. If you are considering a reverse merger with a public shell contact us before making any costly mistakes. We would be happy to explain why there are better, quicker, easier and less expensive ways of going public.
We assist companies in Going Public fast. Any company can Go Public and have its own stock symbol. There are nearly 15,000 public companies in the U.S. We can help your company Go Public on the NYSE, AMEX, NASDAQ, OTCBB or Pink Sheets.
The NASD OTCBB (over the counter bulletin board) as well as the Pink Sheets have NO asset and NO revenue requirements. Most of the smaller companies go public first on either the NASD OTCBB or the Pink Sheets. They can quite easily move up later to NASDAQ.
In fact, if a company is interested in Going Public they may want to begin trading on the Pink Sheets. There are NO audits, NO periodic SEC reporting and they do not have to deal with Sarbanes Oxley. It also is very fast and relatively inexpensive. A company can initially begin trading on the Pink Sheets if they want to become public quickly and, if they choose, can trade on the OTCBB later very easily.
* * *
SEC Press Release Regarding Public Shell Company Rule Reform
The End of Public Shells & Reverse Mergers
The Securities and Exchange Commission press release below is about Public Shells and Reverse Mergers. If you are considering going public it is important to understand it’s significance.
Basically it states if you are going to do a reverse merger with a public shell. You will need audited financials and the equivalent of an SB-2 Registration Statement within 4 days of the merger or you will be out of compliance. Therefore making public shells useless. It actually takes longer now to go public if you use a public shell.
You do not need a public shell to go public. It is faster and less expensive to go public from scratch rather than use a public shell.
Trading on the Pink Sheets is the fastest way to go public. A company can always move up to the NASD OTC Bulletin Board or NASDAQ later.
We can take a company public fast and inexpensively. The President of our company is a very experienced Securities Attorney.
We can assist you in going public on NASDAQ, OTCBB or the Pink Sheets.
The Pink Sheets do not require audited financials nor SEC quarterly reporting. This is the fastest way of going public.
SEC Votes To Adopt Securities Act Rule Reform and Shell Company Regulations; Considers Matters Remanded by Court of Appeals
FOR IMMEDIATE RELEASE 2005-99
Washington, D.C., July 1, 2005 - On June 29, 2005, the Commission voted to adopt changes to rules regarding various processes regulated under the provisions of the Securities Act of 1933; voted to adopt regulations to deter fraud and abuse in the securities markets through the use of shell companies; and considered matters remanded to the Commission by the U.S. Court of Appeals for the District of Columbia Circuit.
1. Rules Regarding Securities Offering Reform
The Commission voted to adopt modifications to the registration, communications, and offering processes under the Securities Act of 1933.
Categories of Issuers
In many cases, the amount of flexibility granted to issuers under the reforms is contingent on the characteristics of the issuer, including the type of issuer, the issuer's reporting history, and the issuer's equity market capitalization or amount of previously registered non-convertible securities, other than common equity. The rules divide issuers into four categories.
A well-known seasoned issuer is a new class of issuer that is current and timely in its Exchange Act reports for at least one year and has either $700 million of worldwide public common equity float or has issued $1 billion of non-convertible securities, other than common equity, in registered offerings for cash, in the preceding three years.
A seasoned issuer is a primary shelf eligible issuer.
An unseasoned issuer is an issuer that is required to file reports pursuant to Sections 13 or 15(d) of the Exchange Act, but is not a primary shelf eligible issuer.
A non-reporting issuer is an issuer that is not required to file reports pursuant to Sections 13 or 15(d) of the Exchange Act.
The most significant revisions to the Commission's communications rules and registration processes apply to well-known seasoned issuers.
Liberalizing Communications Around the Time of Registered Offerings
The rules update and liberalize permitted offering activity and communications to allow more information to reach investors by revising the "gun-jumping" provisions under the Securities Act. The cumulative effects of these rules are:
Well-known seasoned issuers are permitted to engage at any time in oral and written communications, including use at any time of a new type of written communication called a "free writing prospectus," subject to enumerated conditions (including, in some cases, filing with the Commission).
All reporting issuers are, at any time, permitted to continue to publish regularly released factual business information and forward-looking information.
Non-reporting issuers are, at any time, permitted to continue to publish factual business information that is regularly released and intended for use by persons other than in their capacity as investors or potential investors.
Communications by issuers more than 30 days before filing a registration statement will be permitted so long as they do not reference a securities offering that is the subject of a registration statement.
All issuers and other offering participants will be permitted to use a free writing prospectus after the filing of the registration statement, subject to enumerated conditions (including, in some cases, filing with the Commission). Offering participants, other than the issuer, will be liable for a free writing prospectus only if they use, refer to, or participate in the planning and use of the free writing prospectus by another offering participant who uses it. Issuers will have liability for any issuer information contained in any other offering participant's free writing prospectus as well as any free writing prospectus they prepare, use, or refer to.
The exclusions form the definition of prospectus are expanded to allow a broader category of routine communications regarding issuers, offerings, and procedural matters, such as communications about the schedule for an offering or about account-opening procedures.
The exemptions for research reports are expanded.
A number of these new rules include conditions of eligibility. Most of the rules, for example, are not be available to blank check companies, penny stock issuers, or shell companies.
The rules address the treatment under the Securities Act of electronic communications, including electronic road shows and information located on or hyper-linked to an issuer's website. The rules define written communication as any communication that is written, printed, a radio or television broadcast, or a graphic communication. The definition of graphic communication and, thus, electronic road show excludes communications that are carried live and in real-time to a live audience, regardless of the means of transmission. Electronic road shows for initial public offerings of common equity or convertible equity securities will have to make a bona fide electronic road show readily available to an unrestricted audience to avoid filing the electronic road show with the Commission. No other road shows will be subject to filing.
Liability Timing Issues
The Commission addressed the liability provisions under the Securities Act. In this regard, the Commission:
Reaffirmed the interpretation and adopted an interpretive rule that, for purposes of disclosure liability under Section 12(a)(2) and Section 17(a)(2) of the Securities Act, when assessing whether a statement to an investor prior to or at the time of sale by a seller includes or represents a material misstatement or omits to state a material fact necessary to make the statement in light of the circumstances under which it was made, not misleading, information conveyed to the investor only after the time of the contract of sale should not be taken into account.
Approved changes to the Securities Act procedures for shelf registration that will ensure that prospectus supplements filed after the initial effective date of a registration statement will be included in the registration statement for Securities Act Section 11 liability purposes.
Approved rules that will establish a new Section 11 effective date for each takedown off a shelf registration statement for issuers and underwriters, and not for experts, directors, and signing officers. If an expert provides a new report or opinion in an Exchange Act report or in connection with the takedown that would require a consent, however, there would be a new effective date for that expert.
Improvements to Registration Procedures
The rules will make improvements to the shelf registration provisions that will modernize the operation of the shelf registration process under the Securities Act. The changes will:
Codify in a single rule the information that may be omitted from a base prospectus in a shelf registration statement at effectiveness and included later;
Replace the requirement that issuers register only securities they intend to offer within two years with a requirement that the issuer update the registration statement with a new registration statement that is filed every three years;
Eliminate restrictions on "at-the-market" equity offerings by seasoned issuers with a $75 million public float;
Permit immediate takedowns of securities off of shelf registration statements;
Permit issuers to use prospectus supplements (rather than post-effective amendments) to make material changes to the plan of distribution described in the base prospectus;
For seasoned issuers with a $75 million public float, revise the requirement to identify selling security holders by permitting selling security holders to be identified in prospectus supplements (rather than post-effective amendments), where the securities to be sold (or securities convertible into such securities) are outstanding when the registration statement is filed; and
Establish a significantly more flexible version of shelf registration, referred to as "automatic shelf registration" for offerings by well-known seasoned issuers. Automatic shelf registration permits automatic effectiveness, pay-as-you-go registration fees, and the ability to exclude additional information from base prospectuses.
The rules also contain procedural changes that will allow reporting issuers that are current in filing their Exchange Act reports to incorporate by reference previously filed Exchange Act reports and other materials into a Securities Act registration statement on Form S-1 or Form F-1.
Prospectus Delivery Reforms
The rules will change the way in which the final prospectus delivery obligations under the Securities Act are satisfied. The change will create an "access equals delivery" model for final prospectuses. Under this model, filing a final prospectus with the Commission and complying with other conditions will enable offering participants to conduct securities offerings without printing and actually delivering final prospectuses. A cure provision for inadvertent failures to file is included. In addition, the rules include a separate requirement to notify investors that they purchased securities in a registered offering.
Required Disclosure in Exchange Act Reports
The rules require issuers to include the following in their Exchange Act periodic reports:
For Form 10-K filers, disclosure of risk factors, where appropriate;
Disclosure regarding the issuer's status as a "voluntary" filer of Exchange Act reports; and
For "accelerated filers" and well-known seasoned issuers, disclosure in their reports of written staff comments that were issued more than 180 days before the end of the fiscal year to which the annual report relates, where those comments remain unresolved at the time of filing the annual report and the issuer believes those comments to be material.
The effective date of the rules will be 120 days following publication in the Federal Register.
2. Use of Form S-8, Form 8-K, and Form 20-F by Public Shell Companies
The Commission voted to adopt rules and amendments to assure that investors in shell companies that acquire operations or assets have access on a timely basis to the same kind of information as is available to investors in public companies with continuing operations. The rules are intended to protect investors by deterring fraud and abuse in the securities markets through the use of shell companies.
The new rules and amendments relate to the use of Form S-8, Form 8-K, and Form 20-F by public shell companies. Form S-8 is used by public companies to register securities for sale under the Securities Act of 1933 in connection with employee benefit plans. Form 8-K is used by public companies to disclose certain corporate events on a current basis under the Securities Exchange Act of 1934. Form 20-F is a multi-function form under the Exchange Act for foreign private issuers.
The changes will:
define the term "shell company" to mean a registrant, other than an asset-backed issuer, that has no or nominal operations, and either:
no or nominal assets;
assets consisting solely of cash and cash equivalents; or
assets consisting of any amount of cash and cash equivalents and nominal other assets;
revise the definition of "succession" to include a method of taking a private company public through a shell company that is known as the "back door" Exchange Act registration procedure;
prohibit the use of Form S-8 by shell companies;
permit former shell companies to use Form S-8 once they become operating companies and 60 days have passed since they filed with the Commission the information about the operating company that they will be required to provide if they were filing a registration statement under the Exchange Act;
add new Form 8-K Item 5.06 to require disclosure when companies cease to be shell companies;
revise the existing Form 8-K items relating to acquisition or disposition of assets and changes in control to require companies that cease being shell companies, within four business days of the transaction, to disclose information comparable to the information that they will be required to provide if they were filing an Exchange Act registration statement;
require foreign private issuer shell companies to report transactions that cause them to cease being shell companies on Form 20-F, providing disclosure comparable to that which domestic companies will report on Form 8-K; and
require companies to indicate on the cover page of their Exchange Act periodic reports whether they fall within the definition of "shell company."
The amendments would take effect 30 days after publication in the Federal Register, except for new Form 8-K Item 5.06, which would take effect Nov. 7, 2005.
3. Further Consideration of Adoption of Amendments to Rules under the Investment Company Act of 1940
The Commission considered further its adoption of amendments to rules under the Investment Company Act of 1940. Acting in response to a decision by the Court of Appeals for the District of Columbia Circuit (Chamber of Commerce v. SEC) remanding two issues raised by the rulemaking, the Commission voted not to modify the amendments. "
"
I don't invest in something that I have no idea how the business works. I don't touch any pinksheet company that is artificially overvalued or OTC:BB.
Good luck to you and I hope you make a killing.