Shell Summary for March 5, 2018

by Stockwatch Business Reporter

The TSX Venture Exchange climbed 13.17 points to 839.19 Monday. Thomas O'Neill's first capital pool shell, Nubeva Technologies Ltd. (NBVA), has completed its qualifying transaction and will begin trading this week. Mr. O'Neill listed the stock, formerly Sherpa Holdings Corp., in November, 2017, with a $335,550 IPO at 10 cents. He rolled it back 1 for 5 in connection with the QT, leaving Sherpa with 1.55 million shares issued, after which it issued 187 million postconsolidated shares to Nubeva's shareholders. IPO investors, who are likely pleased with the pace of the deal so far, will be looking for 50 cents to break even.

Nubeva is a technology company with a blockchain business. It has a product, StratusEdge, that helps companies move their networks to the cloud using blockchain technology. The blockchain hype helped Nubeva raise $10-million at 60 cents.

Following the QT, Nubeva co-founder Randy Chou, 45, has become the company's largest shareholder with 22.9 million shares or 44.4 per cent of the company. He is a software designer from San Jose, Calif., who has spent two decades working with cloud security and storage. He has been employed at three technology companies, Panzura, Aruba Networks and Alteon WebSystems. Panzura is still private; Hewlett-Packard Enterprise Company bought Aruba in 2015, and Nortel Networks Corp. acquired Alteon in 1999.

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