iPackets International Inc. (IPKL)

[ib12u]

Shell company Definition, Regarding IPLK.

FYI.

Reports has it that IPKL is to become a "Shell Cimpany"

Definition of a Shell Company, is as follows;

*A limited company that has never started, or has ceased its trading activities (eg a subsidiary transferring its business to its parent or a fellow subsidiary), but has not been dissolved. Annual returns are still filed, but the accounts state that the company did not trade during the year. A company is kept on the “live index” in this way, so that it can be easily reactivated if it wants to start trading again in the future. It is also known as a Dormant company.

*A company with few or no assets and thus available for purchase at a low price. The buyer uses the company for his own business which may be substaantially different form the one originally carrried on.

*A shell corporation is defined in Barron's Finance & Investment Handbook as "a company that is incorporated but has no significant assets or operations. Such corporations may be formed to obtain financing prior to starting operations.... The term is also used of corporations set up by fraudulent operators as fronts to conceal tax evasion schemes." They are also known as Specified Purpose Acquisition Companies (SPACs).
en.wikipedia.org/wiki/Shell_company