04-27-2011, 05:08 PM
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Confirmed User
Join Date: Feb 2002
Location: Santa Monica, CA
Posts: 31
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Quote:
Originally Posted by newB
"SNT Cleaning, Inc., a development stage company, focuses on providing cleaning, detailing, polishing, and valet services for automobiles, recreational vehicles, vans, and trucks in the Westlock area. The company, formerly known as SNT Networks, Inc, was founded in 2005 and is based in Westlock, Canada."
As you must realize, a company that changes not just it's name but it's whole business model does not inspire a whole lot of confidence. From what I have seen, such changes are usually for the purpose of concealing their past performance.
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Thats a reverse merger. Old company goes out of business and becomes a shell that a private company uses to go public without having to do an IPO. The real story here is all the loans that are convertible to stock at $0.0075 (yes less than 1 cent). So whoever "loaned" the company $50k really bought stock at less than a dollar a share that can be sold under rule 144a. |
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