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by Stockwatch Business Reporter

The TSX Venture Exchange fell 12.83 points to 693.99 Monday. Ron Schmeichel became the first shell packager to complete a qualifying transaction in 2015 last Friday when his WB III Acquisition Corp. closed its acquisition of Tictoc Planet Inc., a tech company that has created a free ephemeral messaging app called Frankly that is used mostly by teenage girls.

WB III rolled back a hefty 1:20.333, leaving it with 737,704 postconsolidated shares and many shareholders with odd lots, and then issued 20,957,606 postconsolidated common shares plus 362,401 restricted voting shares to the shareholders of Tictoc, after which WB III changed its name to Frankly Inc. (TLK). The rolled back stock opened at $3.50 today, then spent the rest of the day slipping down to a low of $2.99 before closing at $3.04 on 1.81 million shares. It was one of the most active traders on the TSX-V, a good start for the newly public tech company on a very bad day in the market.

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