Excerpt from street sweep article
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Since then, Janes has followed up with specific details about his new business venture. In a recent email to potential investors, Janes announced that he is partnering with Brian Altounian – a driving force behind some troubling penny stocks -- to form a publicly traded “business development corporation” that will raise capital for other microcap companies and invest in those stocks itself. Janes and Altounian will serve as co-chairmen of the new venture, known as Alliance Acquisitions, while filling top executive posts at the startup company as well.
Meanwhile, after years of trying, IMGG has still yet to secure permission from the U.S. Food and Drug Administration to sell its Dominion 3-D imaging device. Although IMGG boldly predicted FDA clearance for the scanner months ago, driving its stock to a record high of $1.95 a share, the company has since fielded multiple questions from the regulatory agency. Janes pledged to address the FDA’s concerns by the end of last month but wound up announcing his new venture with Altounian instead.
“Both of us have been approached by hundreds of microcap companies wishing to utilize our knowledge and experience towards assisting them in raising money, becoming public, organizing business plans and mostly wishing to follow our successful business strategies,” Janes stated when courting investors for the new operation. “This is by far the greatest potential company I’ve ever considered being a part of.
“We are raising $5 million,” he added, “and from my initial responses, this looks to fill up very fast.”
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