Posted by: wechoose
In reply to: CashMcMogulson who wrote msg# 46847
Date:7/1/2007 2:52:38 PM
Post #46850 of 46850
A reporting shell doesn't really save you anything but time -- and not much of that. If you have a company and take it public via an SEC compliant shell trading on the BB, you must immediately (usually 90 days) file all relevant 10Q's and K's to bring the "new" company into compliance or "poof", you're off to the pinks.
USSE tried to go this route with ONYI for reasons that still mystify me. JR even suggested the possibility of trying it again when I spoke with him yesterday. That's when I went over the folly of that with him and he mentioned that both companies would have their filings up to date in three weeks.
Then, a 15c2-11 and "poof", they're on the BB!
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JR and wechoose (Fairwayiron) speaking by phone 6-30-07!!!!!!!
In a month (?) we could have BOTH COMPANIES OFF THE PINKS! HUGE!!!!
JMO...
"I call investing the greatest business in the world because you never have to swing... All day you wait for the pitch you like,... The problem when you're a money manager is that your fans keep yelling, 'Swing. you bum!'"
W. Buffett
