OTC IPOs, Mergers & Other Material Events

[STOCKPICKER4LIFE]

Here is some good D.D on YT_FD

8-K talking about the stock purchase agreement.

Fountainhead Capital Management Limited paid $550,000 to acquire 5,130,000 shares.

That might be the most money I've ever seen paid for a shell.

They went out of their way to buy an additional 130k shares.



ITEM 1.01
ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

Stock Purchase Agreement

On November 6, 2007, Yacht Finders, Inc., a Delaware corporation (the “Company”), Geoffrey Greenwood, the record holder of approximately 96.2% of the Company’s issued and outstanding common stock (the “Seller”), entered into that certain Stock Purchase Agreement (the “Stock Purchase Agreement”) with Fountainhead Capital Management Limited (who was also acting on behalf of La Pergola Investments Limited) (the “Purchasers”), pursuant to which the Sellers agreed to sell to the Purchasers 5,000,000 shares of the Company’s common stock for a purchase price of $512,500. At the same time, the Purchasers entered into separate Stock Purchase Agreements with seven other shareholders of the Company whereby they acquired an additional 130,000 shares for an aggregate additional consideration of $37,500 (these 5,130,000 shares are hereinafter referred to as the “Shares”). The sale represents a change of control of the Company and the Shares acquired by the Purchasers represent approximately 98.7% of the issued and outstanding capital stock of the Company calculated on a fully-diluted basis. The Shares were then issued as follows: Fountainhead Capital Management Limited - 4,350,500 shares; La Pergola Investments Limited - 769,500 shares and Gregory Sichenzia - 10,000 shares.

The Purchasers used their working capital to acquire the Shares. The Purchasers did not borrow any funds to acquire the Shares.

Prior to the Closing, the Purchasers were not affiliated with the Company. However, the Purchasers will be deemed affiliates of the Company after the Closing as a result of their stock ownership interest in the Company.

Link
https://www.sec.gov/Archives/edgar/data/1311673/000114420407060566/v093831_8-k.htm


The rest of the shares 65,000 of them were sold at .50 cents per share.

So most of the float shares were bought back in 2007 at .50 cents



This is the owner's website:

https://www.fountainhead-advisors.com/who-we-are/

Management looks good.


According to this they manage over $314.9 Million Dollars

https://investor.com/rias/fountainhead-capital-management-156185

Their Linkedin Page:
https://www.linkedin.com/company/fountainhead-advisors




Marc Rock Co-Founder of Fountainhead.
Impressive Bio

https://www.linkedin.com/public-profile/in/marc-rock-080b98b?challengeId=AQFJUAOIZAtzWQAAAXTTgrRYA-sdviVa_91MQb0a9rs-xVnhFnW_fWHv0V5bUaEXM_IiGVFq1sKggdzXRgRth4SCHRkQyxAFjQ&submissionId=11066316-65e0-3816-a63c-2bf6b6cff460

They have kept this shell current since 2007. I think the one and only seller Nite is an old original shareholder that is trying to sell his small position. The owner Fountainhead has paid a ton of money over the years to keep this current.