American Leisure Holdings Inc (AMLH)

[THall]

Bishop merged into AMLH for the same reasons all CEO go public. To raise capital. A RM is a much cheaper and quicker way of going public. The problem is he didn't research the shell or just didnt know what he was doing. This shell is absolutely useless to Bishop. He cannot raise capital from the shell because of all the old debt. If he truly does have contracts why would he keep this dirty shell with a bloated O/S? He is getting no capital from selling shares because the old debt must be paid first. So he would be paying the old companies debt off for absolutely no reason since he is unable to raise funds with AMLH. It defeats the entire purpose of going public. If he has contracts then he should dump the ticker. It would be stupid for him to have contracts and pay this debt off because he losses money doing that and still had to find outside funding.

Bishop and Insiders hold controlling interest in AMLH. There will be no vote for retail investors. He does not need investors vote to go private.

It also makes no since for a buyout either when he can simply walk away from the ticker. A buyout whould mean still paying the old debt off just to go private again. He would be losing money.