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by Stockwatch Business Reporter
The TSX Venture Exchange
slipped a fraction to 574.58 Monday.
Margarita Alter has filed a final prospectus to list her first capital pool shell, A-Labs Capital V Corp. The shell is selling a $250,000 to $500,000 initial public offering at 10 cents through Leede Jones Gable Inc. The main difference between the preliminary and final versions of the prospectus is relatively minor -- the shell has a new chief financial officer and director, Yosef Shemesh. He has taken over both positions from Tali Simon.
Ms. Simon, 50, is an accountant living in Israel. She sits on the board of a real estate investment firm called Mydas Real Estate Investments Ltd. Her successor at A-Labs Capital V, Mr. Shemesh, 55, is also an Israeli accountant. He is the CFO of Liacom Systems Ltd., a consulting firm that focuses on information technology and telecommunications.
For shareholders, Mr. Shemesh's resume gives no hint as to what A-Labs might be looking for in a qualifying transaction. From 2003 to 2010, He was the vice-president of operations at BluePhoenix Solutions Ltd., an Israeli tech firm that provided "modernization" (upgrading) services for enterprise IT systems. BluePhoenix traded up to $22.73 (U.S.) on the Nasdaq in late 2007. Its customers included Citigroup, Merrill Lynch, DaimlerChrysler, Toyota, Volvo and Ford. In late 2008, U.S. car companies and U.S. banks were asking for bailouts, and BluePhoenix's stock had fallen to about $1.50 (U.S.). BluePhoenix later underwent a merger and a takeover.
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