How many BS penny stock shells does this Reid guy run? TRII, KMAG and how many others?
The current count is just those two. As you may already know the brief history of TRII is: Duncan R/Med his private company Allied something or another, into a Polish Boat Repair shell. Then he sold his private company Canamet for 4X what it was worth, changing the name to TRII. Then brought TRII into the market.
After his KMAG got greyed out, and still under "informal" SEC investigation, he hurried up a process started before the suspension to bring TRII to the market. Not under "formal" SEC investigation, the SEC couldn't prevent it from coming into the market.
My tea leaves predict the SEC will run him out of the market before next Sep - the 2 yr anniversary of the KMAG suspension. He would liquidate both of his stocks, able to keep the profits from his TRII stock sales. He would have to address a few convertible notes in TRII.
The net result: He starts his private company. Goal to dabble around with the material the previous owner left behind, and squeeze out $200K a year in profit. Can't get financing. Solution go public with a penny stock. Let the dreamers pay the financing. Draw a salary of $250K. Run out of the market by the SEC in the future? No problem, take it private, keeping the free stock proceeds.
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