Sixty Six Oilfield Services Inc (SSOF)

[wadirum1]

SSOF isn't just a shell. It is a debt-encumbered shell with a checkered history.

People are going to get all hopped up over the next acquisition. The problem is that people forget that any acquisition worth acquiring must be paid for. In most reverse mergers, existing shareholders get heavily diluted, as massive blocks of stock get issued to the company being acquired. For PROW/MBHC/MMHC/SSOF, the ticket has been the A-1 shares (which have the power to dilute common shareholders 5 to 1). They certainly don't have any cash on hand or ability to raise money. The problem is that at least some of us here believe that Ken Bland will never really give up his A-1 shares. He might park them somewhere temporarily. But unless he really does a binding deal, then the mergers are destined to get rescinded.

If a company really wanted to do a reverse merger into a shell, why wouldn't they pick one with a clean history and zero debt?