I bot this because I thought it would be a really quick pop. WRONG! Although this has been touted for awhile as a "clean shell,"
past filings indicate some debt. We do not know how this has been handled. Matthew Diehl is well experienced in "cleaning up" a shell to maximize value to a prospect who is looking for a suitable reverse merger. Mr Diehl has done NO business while CEO of this shell. It is now easy to believe that his role was to prepare the shell for a reverse merger. I do not know how to see income tax returns for a company like this unless there is a lawsuit where a Plaintiff asks for same. Thank goodness there is no litigation that I know of. But, income tax reporting is the tool for converting debt (losses) to "loss carry forward." Since this merger is lingering, and, since the end of PFMS's fiscal year is 02/28, I am thinking that we will not hear anything until after the 28th. The tax return can establish a "loss carry forward" that can offset future profits. For example, if the carry forward is $600,000-- then the merging company will not have to pay taxes on the 1st $600,000 profit. Significantly reduces the cost of the shell to the buyer. All this being said, I suspect a delay in news and/or filing until after FEB 28. The bad news is that anyone who sells now and before the 28th, or even a few weeks following, will not be able to take advantage of the current price. We all know when good news breaks, the PPS trend line will spike almost straight up. How far is anyone's guess. Depends upon the quality of the company merging into this shell. Probably a minimum of 10 times, and maybe 100 times. Now for the disclaimer-- I am a businessman who has filed numerous tax reports-- I am not a tax accountant, nor certified in any way to give advice on stock transactions. I own shares, and, am holding for good news. GLTA.
