¶ "Blank Check" Shells are unsuitable for Merger Purposes...
Some cunning Businessmen were creating "Blank Check" shells by the hundreds for Reverse Merger purposes, thereby violating the Spirit and Intent found in the relevant SEC Regulations... One Businessman was stupid enough to boast about it in a Newspaper article and the SEC clamped down on all "Blank Check" Companies...
When SEC decides to stop such a practice, it only becomes apparent after a while, with applications sitting on SEC desks, unprocessed... Eventually, SEC publishes an opinion Letter in reply to questions concerning the delay....
A Shell to have value must be the remains of a real company that has previously traded and which has either discontinued an unprofitable Business or sold it and is sitting on a pile of cash, like HMSR, for example...
JMHO, F. Goelo + + +
