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by Stockwatch Business Reporter

The TSX Venture Exchange fell 14.75 points to 995.43 Thursday. Dr. Samuel Herschkowitz's first capital pool shell, Prospect Park Capital Corp. (PPK), will ask the majority of its minority shareholders to approve its qualifying transaction plans at a Sept. 25 meeting in Toronto.

Last week, the shell signed a share purchase agreement to acquire shares of Skyline Medical Inc. (SKLN: $0.1265), a health care company that trades on the OTC-QB and sells an FDA-approved surgical fluid disposal system called the Streamway system. Prospect Park will acquire $1.7-million worth of Skyline shares, based on the last closing price of Skyline prior to closing the QT, from the target's largest shareholder, SOK Partners LLC, for a discounted price of $1-million. The shell will cover the $1-million cost by paying $400,000 cash and issuing 3,018,632 Prospect Park shares. The seller of the Skyline shares, SOK Partners, is controlled by Dr. Herschkowitz and Joshua Kornberg, both of whom are directors and shareholders of the shell. Although SOK Partners appears generous by offering a discounted price of its Skyline stock to Prospect Park, the seller is still ahead. SOK Partners, which owns about 70.8 million of Skyline's 222,213,697 shares outstanding, acquired most of its shares at about 1.4 cents a share. Skyline is an unprofitable company that lost $1.6-million (U.S.) on revenue of $70,220 (U.S.) in the quarter ended March 31, 2014.

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