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Re: 727GBG post# 1521

Wednesday, 07/27/2005 2:15:49 PM

Wednesday, July 27, 2005 2:15:49 PM

Post# of 159752
To answer your question, yes there is money in having a shell:

B. OTHER RELEVANT PERSON
15. Richard D. Surber ("Surber"), age 31, a resident of Salt Lake City, Utah, is a shell company promoter who registered, or was otherwise affiliated with, all of the proposed respondent delinquent companies. Surber's "consulting" business is to take private companies public via reverse mergers with public shell companies.3 He finds public shells that are defunct with no operations, but still have their stock listed on the Pink Sheets. He then purchases a controlling interest in the shell companies. Surber's business obtains cash fees in the range of $100,000 to $350,000 and two or three percent in stock ownership for each reverse merger deal it puts together. Surber has a license to practice law in California, but not in Utah where his office is located.

http://www.sec.gov/litigation/admin/34-49823-o-1.htm


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