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by Stockwatch Business Reporter

The TSX Venture Exchange added 1.63 points to 645.09 Tuesday. Robert Munro and Marc Lavine's capital pool shell, Chrysalis Capital IX Corp., completed its qualifying transaction yesterday, launching Michael Dalsin and Roger Greene's new health care company, Inspira Financial Inc. (LND). The stock opened today at 20 cents, closing at 23 cents after trading an extraordinary 48.86 million shares, over 2,366 trades. (By comparison, the second most active TSX-V trader, Edgewater Wireless Systems Inc. (YFI), closed unchanged at 29 cents on 2.9 million shares.)

Yesterday, Chrysalis Capital IX completed a rollback of 1:1.765, leaving it with 6,142,209 postconsolidated shares, and then issued 313,911,541 postconsolidated shares to the shareholders of Inspira, for a mammoth-sized float of 320,053,750 shares outstanding. Fully diluted, the size of the float balloons to 552,864,883 shares outstanding.

Inspira, formed in May, 2014, provides revolving lines of credit of between $250,000 and $10-million to health care companies operating in the United States. Most of the loans are secured by net accounts receivable due from the U.S. government and certain large insurance companies. This is the most recent health care company with U.S. operations launched by Mr. Dalsin and Mr. Greene, who have already had success with their first TSX-V company, Patient Home Monitoring Corp. (PHM: $1.31), a profitable venture that "has initiated the process for graduation" to the Toronto Stock Exchange, which it hopes to complete later this year. Last February, Mr. Dalsin and Mr. Greene launched a second health care company, Convalo Health International Corp. (CXV: $0.45), which owns three rehab clinics in California and plans to acquire many more in the next couple of years. Mr. Dalsin is the chairman of Patient Home and the CEO of Convalo, while Mr. Greene is a vice-chairman of Patient Home and an executive director of Convalo. At Inspira, they are neither directors nor executives, but they are the founders and large shareholders. They jointly control Canons Park Capital LLC, which owns eight million shares. Separately, Mr. Dalsin controls 16.25 million shares and Mr. Greene controls 10.25 million. They have placed Dave Costine as the CEO of Inspira. Mr. Costine, 74, with 250,000 shares, is a venture capitalist. He lives in Newport Coast, Calif., and serves on the board of trustees of the Cornell University Foundation.

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