VGTel Inc (VGTL)

[janice shell]

Shell hijackers are plentiful. They simply find a dormant public shell, usually in Nevada, that's been abandoned by management. Then buy a few shares of stock, and then file a petition to be named custodian of the corporation in a local court. The judge grants the custodianship pretty much automatically.

Then the hijacker sells the shell, sometimes for as much as $200K. Sometimes the shells are clean, but often they aren't.