The Penny King's Free and Clear M&A Fund

[thepennyking]

QUESTION: What is a spin-off?

ANSWER: A "spin off" allows a subsidiary or division of a corporation
to become its own company via a new stock offering. Shares in the new
company are typically issued to the parent company's existing
shareholders on a pro-rata basis. Spin-offs can also be executed
via a leveraged buyout (LBO), management buyout (MBO) or employee
stock ownership plan (ESOP).

*** EXAMPLE: See the Sep. 14 New Registration Statement (10-12B) filed
by the "New D&B Corp"
http://www.edgar-online.com/auth/verity/display.asp?query=spin+off&filename=0000950123%2D00%2D008523&cik=1115222


Founder: The Free and Clear Foundations of Earth, Chairman & CEO Penny King Productions, The Free and Clear Bancorporation, Senior Trustee; The Free and Clear Fund, and Janitor for the Global Morass of Debt Instruments.