Champion Communication Services Inc. (fka CCMS)

[Potse]

CCMS...attractive shell.....

As of June 30, 2009:

4.7M outstanding shares
2M float
$560K market cap at .12/shr
$190K book value: .04/shr

Picked up some shares of CCMS in the 8-12 cent area. The shell is pretty much off the radar screens of most shell investors/players. Share structure, valuation, cash position of about $200k, make CCMS a reasonably attractive shell.

Although there is no updated information in the last two quarterly reports regarding management's search for a merger candidate, there was this rather interesting piece of information included in the "subsequent events" section of the annual report filed on 4/15/2009......

Management has identified potential businesses to merge with and is in negotiation with the parties. Such negotiations are subject to due diligence , the completion of the annual 10-K filing with the Securities and Exchange Commission, as well as completion of all federal , state and local tax filings and resolution of any and all outstanding liabilities should there be any. There is no assurance that we will be successful in completing these negotiations.

http://knobias.10kwizard.com/filing.php?param=&ipage=6267990&DSEQ=1&SEQ=&SQDESC=SECTION_BODY&exp=