or has been through a bankruptcy and had its liabilities discharged. It was an A, B or C list of ideal shell types for a R/M.
A)No operating Business ever B)Inactive for a long period of time or C)Been through a BK and had their liabilities discharged....this applies to FRTL
Posted by: The Rainmaker Date: Sunday, July 06, 2008 6:56:39 PM In reply to: The Rainmaker who wrote msg# 574 Post # of 607 To accomplish a reverse merger, the private operating company must first seek to identify a shell company. To avoid entangling itself in any hidden liabilities, the ideal shell company will be one that has never had an operating business, has been dormant for a long time, or has been through a bankruptcy and had its liabilities discharged.
FRTL Bankruptcy Case Discharged since 2006 : Company Notes * Note=3-03 Company filed petition under Chapter 7 of the Federal Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of California. Chapter 7 case closed, effective 3-17-06