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PSPF Due Diligence - What's the holdup of

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12thman   Sunday, 05/12/13 10:57:38 PM
Re: None
Post # of 2152 
PSPF Due Diligence - What's the holdup of reverse merger? Andretti IV v. Power Sports Factory, No. 110103276. Once this case is settled, if it isn't already, PSPF can move forward with a new business plan.
http://www.dealernews.com/dealernews/article/andrettis-sue-power-sports-factory

This link suggests that there were 100 million shares outstanding when PSPF was purchased by Purchase Point Media, but the Bank of America filing suggests almost 17 million shares have been retired. I calculated this by taking the 4.8 million shares Bank of America owns which was a stated 5.78% as of December 31, 2011. See the filing here:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8410435

One can only wonder if they've retired more shares since then... And as of April 30th, 2013, the short interest has increased significantly.
http://www.otcmarkets.com/stock/PSPF/short-sales

PSPF was a fully reporting company, and in my opinion with it's low share structure and relatively clean shell status(other than the Andretti suit) would be a VERY attractive reverse merger candidate.
http://yahoo.brand.edgar-online.com/default.aspx?companyid=58822

PSPF daily chart:

www.stockcharts.com

PSPF weekly chart:

www.stockcharts.com

MINERS MATRIX stock picks: http://investorshub.advfn.com/boards/board.aspx?board_id=21608

OPEN HANDED TRADERS:
http://investorshub.advfn.com/boards/board.aspx?board_id=18306

Consult a financial professional before making any investment decisions
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