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Shell Summary for Oct. 28, 2020

2020-10-28 20:35 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange dropped 30.17 points to 677.93 Wednesday. Mo Fazil's third shell, Greenstone Capital Corp. (GSGS: halted), plans to acquire a New Jersey health care software company, Comprehensive Healthcare Systems Inc., for the shell's qualifying transaction. The shell will likely roll back 1 for 2.4333, leaving it with three million shares issued, then issue 60 million shares to its target's shareholders. (The shell does not mention a rollback, but it says its shareholders will hold three million shares on closing of the QT. It has 7.3 million shares currently issued.)

Comprehensive Healthcare provides health care administration software, enabling claims processing and benefits management. In addition, it is working on a telehealth platform. We should find out whether the company is profitable when the shell submits a QT filing statement. In connection with its going public, Comprehensive Healthcare must sell $2-million worth of subscription receipts at 30 cents. It must also sell $2-million worth of debentures, convertible into shares at 24 cents.

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