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by Stockwatch Business Reporter

The TSX Venture Exchange continued to fall Monday, declining 16.85 points to 725.02 and extending the most recent number of consecutive down days to six. Tomorrow, Darren Stark's new capital pool shell, Anchor Capital Corp. (ANC), will list on the TSX-V as the first shell of December and the 20th this year. Richardson GMP Ltd. sold Anchor's $351,400 initial public offering of 3,514,000 shares at 10 cents. It is the brokerage firm's fourth capital pool shell in 2014.

Anchor also has two million shares in escrow that sold at five cents. Mr. Stark, a lawyer, is the shell's founder and largest shareholder with 900,000 escrow shares. He manages Oxbridge Bank & Trust SCC, or at least he did until earlier this year (the bank's website has since gone down). Oxbridge is a Barbados wealth management firm founded by Greg Chamandy, who is also the founder of the sports clothing company, Gildan Activewear Inc. (GIL: $66.29). Mr. Stark and his employer, Mr. Chamandy, previously listed one capital pool shell, Chelsea Acquisition Corp., which went public with a 10-cent IPO in March, 2012. The following year, in December, 2013, it rolled back 1:3 and launched Pediapharm Inc. (PDP: $0.33), an unprofitable pharmaceutical company with products for children. The stock opened at a postconsolidated 45 cents and has since traded between 21 cents and 75 cents. IPO shareholders had enough opportunity to sell for a modest profit by now, making it a modest success. So far, Mr. Chamandy appears nowhere in the Anchor documents.

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