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Re: Magnum7419 post# 8717

Monday, 06/08/2020 12:51:26 PM

Monday, June 08, 2020 12:51:26 PM

Post# of 24782
The generally accepted definition of a “clean” shell refers to their financial filings being current, and in good standing with the otc exchange, with no serious ‘black marks’. Debt has absolutely nothing to do with being “clean”, unless there is an attempt to hide or misrepresent. Taking on ozsc’s debt is a trade-off, which allows PCTi to go public much more quickly
(~1 year quicker). Time is money.
Clean shells are not easy to come by (eg. ELTZ - previous failed merger partner). That is why they were willing to assume the debt - for the greater benefit realized by the merger.
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