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PennyBears

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PennyBears

Re: None

Wednesday, 04/04/2012 4:49:47 PM

Wednesday, April 04, 2012 4:49:47 PM

Post# of 74729
At the closing, the shell company issues a substantial majority of its shares and board control to the shareholders of the private company. The private company's shareholders pay for the shell company by contributing their shares in the private company to the shell company that they now control. This share exchange and change of control completes the reverse takeover, transforming the formerly privately held company into a publicly held company.

Source: wikipedia

Looks like the merger news is days away!!
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