A BB shell is already a reporting company. They do not have to apply to the SEC. They do not have to file application paperwork, just be up to date on the filings.
A pink sheet has to apply to the SEC and wait often many months to be approved for the BB. I know one right now that applied for BB status almost a year ago. They were reporting for several years even though they did not have to be.
If they had just merged with another BB company they would be on the BB a long time ago.
It is interesting that you are criticizing the company for this when you do not understand the process.
It's both cheaper and quicker. You can get a reverse merger up and running within a few months. If you start from scratch it'll take longer, because once you file your Form 10 the SEC can take forever to approve it. It's one of the few SEC submissions that must be approved. They can also hang you up forever with your 15c2-11. All of that will cost you a bundle in fees for lawyers and accountants.
Janice Shell, an art historian who resides in Milan and lives on the Silicon Investor threads, has paid her dues with incompetent brokers, painful margin squeezes and taking pills on speculative stocks. She's quite happy, now, to point out to others the error of their ways.
"I'm a research scholar by profession, so digging for information and then interpreting it is something I know how to do, and genuinely enjoy doing. I'd like to help educate investors to the dangers of scamsters and hypesters -- help them learn how to do real due diligence. But I have no particular sympathy for nasty and belligerent longs [people who own a stock] who do nothing but scream that we're evil because we think the company they're invested in has got some problems."
Amazon Natural Treasures, Inc., a Nevada Corporation, Plaintiff, vs. Janice Shell, Dean Dumont, D. Tod Pauly, Jeffrey Mitchell, Cynthia Demonte, Demonte & Associates, a New York corporation, Silicon Investor, a Delaware Corporation, Raging Bull, a Delaware Corporation, John Doe No. 1 A/K/A CarlW, Does 1 through CXIII, and Black Corporations I through XX, Case No.: CV-5-00-0158-PMP-RLH (D. Nev., complaint for defamation, libel and tortious interference filed Jan. 2000).
APRIL FOOLS JOKERS FIND THEMSELVES IN COURT
An April Fools' joke has resulted in a federal court suit filed by press release distributor Business Wire against Jeffrey Mitchell, William Ulrich, and Janice Shell after they posted a bogus press release through Business Wire. The suit, filed on April 26th, charges the defendants with violations of federal and state trademark laws, fraud, breach of contract, defamation and conspiracy and seeks unspecified damages and injunctive relief. The phony press release announced a new contract, signed by a fictional company called Webnode with the federal government, under which sections of the next generation Internet were being sold to finance its construction. The prank was reported on April 1st but not before many people made inquiries about the investment opportunity. The Webnode version of the case, including the press release and its retraction, may be found at http://www.webnode.com
John Emshwiller's book Scam Dogs and Mo Mo Mamas is fine effort to introduce the reader to the little known world of internet pumping and dumping, and insider stock manipulation using cyber space as a tool to get it done. But with this book that's as far as it goes. Mr. Emshwiller missed a key part of the story when it comes to the myth that has been built around alleged cyber snoop, and consumer advocate Janice Shell. Mr. Emshwiller never does seem to get the story right about the "Two Ricks," and who Janice Shell and Rick Marchese really are. He seems to take Ms. Shell's word for who she really is, and does little or no real research into the allegations Ms. Shell is really Janice Evans living in Milan, Italy under the alias of Janice Shell without the knowledge of the Italian Government. There is much more to be found on the subject of Janice Shell and her friends, and the reader is encouraged to use this book as only starting point.
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