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by Stockwatch Business Reporter

The TSX Venture Exchange lost 2.66 points to 690.46 Thursday. Paul Barbeau has filed a preliminary prospectus to list his fourth capital pool shell, NBS Capital Inc., with a $500,000 initial public offering at 10 cents. Its IPO agent is Industrial Alliance Securities Inc.

Besides being a shell-maker, Mr. Barbeau, 49, is a tech promoter in Ottawa. In 1994, he founded a database developer, NPN Communications Group Ltd., which was later acquired by an information technology company called Prospectus Inc. He then joined Prospectus and helped take it public. From 1997 to 2004, Prospectus traded as The Prospectus Group Inc. It spent most of its time under 50 cents, but for six weeks in early 2000, just as the dot-com bubble was beginning to burst, Prospectus's stock shot up to $9.50 from $2 before dropping back down to $2.

Mr. Barbeau listed his first capital pool shell, NPN Investment Group Inc., in 2005 with a $400,000 IPO at 10 cents. In 2007, it launched a mining junior, Alix Resources Corp., which traded between 10 cents and 50 cents for nine months. The shell's IPO shareholders had sufficient opportunity to get out of their investment with a profit, so we consider NPN Investment to have been a success for them.

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