Trans Global Group Inc (TGGI)

[87 LC2]

This came from a poster on StockTwits.


Pontiac73TransAm
Bullish
23m
$TGGI
TGGI: "A Form 10 blank check shell company, or virgin shell as they are sometimes referred to, are reporting to the SEC and they, generally speaking, have a class of stock registered under the Securities and Exchange Act of 1934. (we transitioned to a "blank check" co. because we are SEC reporting now) They traditionally have no cash, no debt, no business, and a minimal operating history.
Through a reverse merger, or purchase of a “clean” blank check company, an operating company can go public, but without the burden of potential liabilities, and the long timeline normally associated with going public." TGGI is not a SPAC: A SPAC is a "blank check" company, but all "blank check" companies are not SPAC's. According to the U.S. Securities and Exchange Commission, "A SPAC is created specifically to pool funds in order to finance a merger or acquisition opportunity within a set timeframe. " Chen bought the shell TGGI to Reverse Merge, not use it to raise funds for an acquisition.