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by Stockwatch Business Reporter

The TSX Venture Exchange gained 1.09 points to 761.26 Thursday. There are 136 listed capital pool shells, and at least two more are hoping to join them. First, Thomas O'Neill has filed a preliminary prospectus to list his second capital pool shell, Sherpa II Holdings Corp., with a $200,000 to $500,000 initial public offering at 10 cents. Its IPO agent is PI Financial Corp.

Mr. O'Neill, 55, runs an insurance and financial advisory firm in Vancouver called Thomas O'Neill & Associates Inc. This firm's advice covers estate planning, group pension plans and employee benefits. Mr. O'Neill is also the chief executive officer of Royal Sapphire Corp. (RSL), which is halted pending its acquisition of a Toronto marijuana producer.

Mr. O'Neill listed his first capital pool shell, Sherpa Holdings Corp., in November, 2017, with a $335,550 IPO at 10 cents. In March, 2018, the shell rolled back 1 for 5 and launched Nubeva Technologies Ltd. (NBVA: $1.10). Nubeva is a software company in San Jose, Calif., that focuses on cloud services including cybersecurity. Considering the 1-for-5 rollback, the IPO shareholders of Sherpa Holdings need 50 cents to break even. Although Nubeva is a thin trader (typically trading fewer than 100,000 shares a day, sometimes fewer than 10,000), the IPO shareholders of the original Sherpa continue to have the opportunity to get out of their investment with more than a 100-per-cent profit.

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