Shell Summary for March 22, 2018

by Stockwatch Business Reporter

The TSX Venture Exchange fell 14.07 points to 817.08 Thursday. Praveen Varshney's halted capital pool shell, Bluerock Ventures Corp. (BCR), plans to acquire Diitalk Communications Inc. for the shell's qualifying transaction. The shell, which has 5,085,000 shares issued, will issue 60.89 million shares to its target's shareholders. In connection with the QT, Bluerock also plans to sell a $3.5-million private placement at 30 cents.

The target is working on an app called Diitalk (pronounced dee-talk). Similar to Skype, the Diitalk app will enable users to make phone calls and send messages. Diitalk used to be called Dingaling, and the company used to be called Dingaling Communications Inc. One would expect that the people who worked for Dingaling grew very tired of being called dingalings. "You really are dingalings aren't you," must have been the comment from the occasional customer at one time or another. This company, under Sean Dusome of Saskatoon, attempted to go public in 2010 through Erin Chutter's capital pool shell, Sceptre Ventures Inc. (SVP). At the time, the Dingaling app was available for download, and it was working. The deal, however, fell through. Ms. Chutter left her shell, and Mr. Dusome left Dingaling Communications. Sceptre Ventures, now under investor relations man Mitchell Smith, is halted pending a QT with another app developer, SmartShare Solutions Inc., which incidentally is partly owned by the Varshney family's Varshney Capital Corp. SmartShare has an app called Garage, which is like Airbnb for parking spots. The app enables users to find an available parking spot or rent one out.

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