Trio Resources Inc (TRII)

[DragonBear]

that will either file a Form 15 or get updated audits

It's my understanding the seller of the shell is who files the Form 15. Then the buyer of the shell need not address any delinquency, because the delinquent stock now unregistered can't by definition be delinquent. The process of back flipping into a shell, offers a loophole around the intent of a Form 15.

and would prefer converting his notes while someone else is at the helm

Duncan-Jeffy has his debt note covered. Duncan-Jeffy didn't sell his debt note, he just had it cancelled out for new scam stock from the Canadian scam. Based on some lower PPS the Canadian scam was selling at. Not an insider of the TSX listed Canadian scam, he could then probably dump at will. Not only that, but I believe when the Canadian scam announced their acquisition of the TRII assets, replaying the 2013 TRII PRs about $100Ms of silver just laying around on the ground, the Canadian scam PPS went up a little. I haven't checked it recently.

Overall Duncan-Jeffy got a few years of a $250K salary while selling convertible debt notes. Probably goobled up more with the private placement he used to screw a few SHs. Made upwards of $400K by dumping the Canadian scam stock. Yet to come probably another $10K by selling the TRII shell. And to think it all started with him buying the property out of BK for $56K back in 2003. Ain't these Microcrap scams wonderful?