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by Stockwatch Business Reporter

The TSX Venture Exchange fell for the seventh consecutive trading day, declining 24.73 points to 778.36. Since the start of September, the TSX-V has lost nearly one-quarter of its value, falling 245.63 points to 778.36 from 1,023.99. The decline is similar to the S&P/TSX Capped Energy Index, which has also lost one-quarter of its value, falling 75.96 points to 249.41 from 325.37. The TSX-V Index has gone up on only four of the last 31 trading days while the energy index has gone up on nine of the past 31 trading days. Paul Haber's halted capital pool shell, Black Birch Capital Acquisition III Corp. (BBC), has received approval from the exchange to complete its acquisition of Aldo and Yeg Baiocchi's Daymak Inc. as its qualifying transaction.

The shell will roll back its shares 1:2.67, leaving it with 1,916,194 postconsolidated shares, and then issue 19,475,000 postconsolidated shares to Daymak shareholders. Yeg Baiocchi, Daymak's founder and president, will receive 14,308,930 shares and become the largest shareholder, but when the QT closes she will step down as president to become the vice-president of sales. Her husband, Aldo, will take over as president and join the board of directors. The second-largest shareholder will be Astoria Ltd., a company owned by an investor named Anthony Oates, which will receive 2,110,115 shares. Daymak sells 38 different electric vehicles -- ATVs, scooters, e-bikes etc. -- through 150 dealers in Canada. It also sells its products on The Shopping Channel and on-line. The company manufactures its vehicles in China and then puts finishing touches on them when they arrive at the company's facility in Toronto. The Baiocchis have built a small, profitable business. In the quarter ended June 30, 2014, Daymak earned $191,860 on revenue of $2.31-million, up from the quarter ended June 30, 2013, when it earned $46,996 on revenue of $2.17-million.

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