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Shell Summary for March 12, 2018

2018-03-12 18:37 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange lost 1.2 points to 827.70 on Monday, March 12. Vince Gasparro and Michael Galego have listed their second capital pool shell, Apolo II Acquisition Corp. (APII), following a $500,000 initial public offering at 10 cents through Richardson GMP. The shell has yet to trade.

As its name suggests, Apolo II is the second capital pool shell to come from Mr. Gasparro and Mr. Galego. The men listed their first shell, Apolo Acquisition Corp., in August, 2017, also at 10 cents. It rolled back 1 for 3.98 in January, launching Cryptoglobal Corp. (CPTO: $0.81). The shell has been a success for IPO shareholders so far. They need 39.8 cents to break even, and have had two months to sell at a profit. The stock peaked at $2.06 in January, before dropping under $1 at the end of February. Cryptoglobal is a cryptocurrency mining hopeful. It is setting up 5,700 mining machines in Ontario, where it hopes to start operations this month. It has only been test mining so far. In the quarter ended Oct. 31, 2017, the company mined just under $17,000 worth of Bitcoin and Ethereum.

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