Indocan Resources Inc. (IDCN)

[Cassandra]

IDCN is a complete mess and certainly not a shell anyone would buy for a reverse merger.

I have restored information to the iBox showing that IDCN is a grey market, caveat emptor stock after having been suspended by the SEC on May 24, 2012. Unless the shell can find a market maker or other broker-dealer to sponsor it by filing a Form 211 and FINRA then approves the filing, IDCN will remain on the grey market where market makers are not allowed to quote bid or ask prices or make a market in the stock.

Kenneth Ash, the former IDCN investor relations representative, became the court-appointed custodian on March 5, 2012 tasked only with holding a shareholders' meeting to elect a new BOD. Instead he appointed himself President of the corporation and began taking corporate actions such as changing the name to Sidewinder Mining, Inc. and changed again to Sidewinder Resources, Inc.

The name changes were apparently not filed with FINRA, which requires Issuer Company-Related Action Notification Form to be filed 10 days before the record date of such a corporate action. FINRA states:

Failure by an OTC Equity issuer to provide the requisite notice may constitute fraud under Section 10 of the Securities Exchange Act of 1934.

http://www.finra.org/Industry/Compliance/MarketTransparency/UPC/FAQ/P117315#2-3

The bloated share structure reported as of 4/28/12 would require a massive reverse split if any new entity tried to become involved as you suggest. Such an action would wipe out the holdings of pre-split investors in favor of shares issued to the new entity. However, as previous stated, IDCN is not a shell that would be attractive for anyone to take over.

Additionally, the WY SOS shows that Sidewinder Resources, Inc. has unlimited authorized shares whereas Ken Ash only reported 10 billion to OTC Markets.

 Shares Outstanding	7,407,945,445	a/o Apr 28, 2012 
 Float	5,590,110,208	a/o Apr 28, 2012 
 Authorized Shares	10,000,000,000	a/o Apr 28, 2012

http://www.otcmarkets.com/stock/IDCN/company-info

WY SOS: https://wyobiz.wy.gov/Business/FilingDetails.aspx?eFNum=188128006155024104205098031164055230081174014183