NU Ride Inc (NRDE)

[Garyedward71]

Once upon a time, this whole get rich on penny stocks craze hit US in the mid 80s. Even after most of America began to realize that this was all a scam, there was a man named Jerry Wenger. Jerry had his own infomercial - tv show, radio show and news letters. The stocks that he said were the best investment potential are "Blind Pools". Blind Pools are corporations formed for raising money in a pool to buy companies Blank Check Corporations. The SEC absolutely frowns on such structures. A SPAC is just a renamed Blind Pool or Blank Check Corp. Let's start a pool and then look for a company to buy. My understanding is that instead of the pump and dump strategy they use a pump and pump strategy to take a blank shell and pump it to the sky. The payout isn't the dump it's buying real world assets with virtually worthless stock. Jerry Wenger's own lawyer publically stated after his sentencing "expecting a camp better a triplemax with peeling paint. There's a great Movie " Empire" starring John Lugiazamo and Esabella Rossellini 2002 where in the end Lugiazamo gets wacked for losing Rossellini's money they were drug dealers. This is how money is laundered in the Caymen islands. Excellent movie. Bottom line SPACS, BLIND POOLS and BLANK CHECK COMPANIES are really shady finance schemes.