Replies to post #85497 on NSAV Holding Inc (NSAV)

[Major Profits]

Dunno about that. Read other articles which seemed to prove you correct. But look at this one. So now I'm not so sure. Anyhow, I don't konw if this would apply to what NSAV Holding, Inc. did or not.

https://www.linkedin.com/pulse/beware-what-shell-companies-david-fisher-the-web-lender-

Shell companies can be used to transfer assets of one company onto a new company without having the liabilities of the former company. For example, when Sega Sammy Holdings purchased the bankrupt Index Corporation, they created a shell corporation called Sega Dream Corporation in order to transfer valuables assets into a new company. This meant that the liabilities of the former company were not attached, as a shell corporation is registered as a separate company. This process resulted in the former Index Corporation being dissolved. Sega Dream Corporation was eventually renamed as Index Corporation.

...There are also shell companies that were created for the purpose of owning assets (including tangibles, such as a real estate for property development, and intangibles, such as royalties or copyrights) and receiving income. Reasons behind creating such a shell company may include protection against litigation and/or tax benefits (some expenses that would not be deductible for an individual may be deductible for a corporation). Sometimes, shell companies are used for tax evasion or tax avoidance.

...The U.S. Securities and Exchange Commission defines a shell company to refer to a publicly held company with no or nominal assets other than money.