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Shell Summary
Symbol C : *MKTSHEL
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Shell Summary for Jan. 8, 2019

2019-01-08 21:02 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange lost 2.37 points to 588.26 Tuesday. Geoff Balderson has filed a preliminary prospectus to list his seventh capital pool shell, Shooting Star Acquisition Corp. It plans to sell a $250,000 initial public offering at 10 cents through PI Financial Corp.

Shooting Star sold 2.04 million escrow shares at five cents in September. Mr. Balderson, 40, bought 940,000 of them. He was a broker with Georgia Pacific Securities Corp. from 2000 to 2001 and then with Union Securities Ltd. from 2001 to 2005. Since then, he has been a director or officer of 20 or so public companies, currently including Argentum Silver Corp. (ASL: $0.15) and Goldeneye Resources Corp. (GOE: $0.095).

Mr. Balderson listed his first capital pool shell in 2007. The shell closed its qualifying transaction the following year, launching Zimtu Capital Corp. (ZC: $0.22), an investment issuer that focuses on natural resources. Mr. Balderson's next three shells closed mining QTs between 2011 and 2016. They now trade as Argentum Silver, Goldeneye Resources and Sunvest Minerals Corp. (SSS: $0.04). Mr. Balderson's fifth capital pool shell, Aim Explorations Ltd., closed its QT in February, 2018, by launching DMG Blockchain Solutions Inc. (DMGI: $0.18). Aim's IPO shareholders, who need 20 cents to break even, have had sufficient opportunity to get out of their investment with a profit since Aim closed its QT. DMG Blockchain traded up to $1.98 in its first week, and then the stock remained above 20 cents until November. The IPO shareholders of Mr. Balderson's first four shells also had sufficient opportunity to get out of their investments with a profit after each shell closed its QT, so Mr. Balderson has an extremely rare shell-making record so far of five successes, no failures.

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