This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

The TSX Venture Exchange fell 13.15 points to 638.27 Monday. Zachery Dingsdale and Steve Smith have filed a new preliminary prospectus to list their fourth capital pool shell, Auston Capital Corp. They previously filed the original preliminary prospectus for Auston in July. The shell has since added two directors and sold more escrow shares. Auston still plans to sell a $300,000 initial public offering at 10 cents through Foster & Associates Financial Services Inc., a registered investment dealer that is a member of the Investment Industry Regulatory Organization of Canada (IIROC).

One of the recently appointed directors is Mark Fekete, 55, a geologist in Val d'Or. He has been involved with some of Mr. Dingsdale and Mr. Smith's previous shells and resource promotions, so we shall review the duo's history. Mr. Dingsdale, 45, lives in Cobourg, Ont., and Mr. Smith, 61, lives in White Rock, B.C. They are investor relations men, offering their services through Tangent Management Corp. They listed their first capital pool shell, Sukari Ventures Corp., in 2008 with a $200,000 IPO at 10 cents. Sukari closed its qualifying transaction in 2010 by launching a Saskatchewan uranium explorer, Gravis Energy Corp., which traded mostly below seven cents. Gravis gave Sukari's IPO shareholders almost no opportunity to get out of their investment with a profit, so we consider Sukari to have been a failure for them. In November, 2017, with Gravis's stock at 0.5 cent, it rolled back 1 for 6 and remade itself into a pharmaceutical researcher called Biocure Technology Inc. (CURE: $0.59). Mr. Dingsdale left when the Sukari shell closed its QT; Mr. Smith left eight months later.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS