Ziplink, Inc. (ZIPL)

[investwise4858]

ZIPL

MinxxDR Nevada had to withdraw from the shell as the shell was never properly taken over in Delaware it appears.

The Delaware filings clearly show that the controlling shareholder and officer, Henry Zachs, did not keep the filings up with the State.

A shell operator tried to take it over but must have not completed his or her task, as Zachs is claiming to assert control due to a technical legal issue.

No way Minxx/DR could stay in the shell, not a good business decision. So they legally terminated their merger with ZIPL (Nevada filings exist to document such) and moved the club and its assets into WRII.

R/Mergers are sometimes difficult (at best) to transact, this one with ZIPL did not work out.

The good news:

Henry Zachs is a good businessman, my bet would be that eventually he will do something with the shell now that he realizes the value of putting something worthwhile into it.