Replies to post #2178 on Riptide Worldwide, Inc.(fka RTWW)

[maddawg2020]

It doesn't work that way.

"Rule 144(i)(1) defines a shell company as a company± that is now or at any time previously has been an issuer, that has:

(A) No or nominal operations; and
(B) Either:
(1) No or nominal assets;
(2) Assets consisting solely of cash and cash equivalents; or
(3) Assets consisting of any amount of cash and cash equivalents and nominal other assets."

The assets would have had to have been bought for cash (or some other liquid asset) and the liabilities settled with all creditors for RTWW to become a shell company.