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For SLReports.net KPI(ACE) Just One of Ancapistan Capital Exchange Stalled IPO's and SPO's...
One of the topics that was discussed at the recent Ancapistan Capital Exchange (ACE) Public Meeting was steps that may be taken to increase the sales activites of stalled IPO's and SPO's.
One of these is Keely Power Investments (KPI : ACE), which has a plan to use IPO funds to invest in RL markets and securities--a realm many people might have obvious objections to given the current state of the RL financial markets and credit crisis.
Instead CEO Lexx Mureaux has confidence, stating in a recent press release, "Investors had great confidence in the company and we have a wonderful start. The economy has been decreasing steadily, which has not meant good things for investors, however it brings great opportunity, and with the majority of our funds still in IPO (yey) we will be able to invest nicely into the market, and really make it count, which is why I will be trying to time closing the IPO with the decreases in the market... (next 4-8 weeks probably)."
KPI(ACE) sold a little bit more than 5,000 shares this week, most after the announcement by Mureaux, to which Mureaux added, "If the big three auto makers close down, we'll see new lows, and that will be the perfect time to invest, so stay tuned for the closing of the IPO so we can inject our funds at the right time."
Mureaux also mentioned a possible deal in the works, stating, "Also, I'm looking at partnering with another company that does stock investments, more details to come if that deal goes through!"
KPI(ACE) is joined by VCFIG(ACE) and VECIF(ACE) in a long-protracted IPO stage, which has caused shareholder concerns in other securities.
In early December investor Duke McDonnagh said in the KPI(ACE) public forum, "If we cant do better at these IPOs then we need to close this place down. No one likes to have their money sit not doing anything." Later in the month Vazon Vantelli reiterated, "OK, there is 313341 shares remaining in IPO and last week 2,658 are sold. That means we will finish this IPO in 117 weeks if we do not change something. There is two ways to solve a problem - to attract more investors to ACE, sell all shares and sucessfuly finish IPO or to cancel IPO. I am sure all of us would be more happy to see first scenario, but if this is not possible I am afraid someone must make a cut... We can`t avoid this problem and wait to see what will happend. Investors funds are locked for too long a period of time and we want to see some progress here."
KPI(ACE) CEO Lexx Mureaux boasts of phenomenal success investing in the ACE Exchange, which makes on wonder why remove the IPO money from the SL economyand place it into the even more unpredictable and faltering RL economy. Mureaux states on the KPI(ACE) prospectus, "My own experience with ACE has been fantastic. I started out working in SL, in a short while, I'd invested just L$20,000, then another L$30,000 and as soon as I knew it, I started getting L$4,000, in dividends from some great companies and my stock values started going up slowly. From 10 months ago to now, my stock portfolio is worth L$737,300 and I started with just a small investment of around L$50,000. That's a huge gain in such a short time."
If Mureaux's hope of a complete IPO sell out do not come to fruitation, at least this week's almost two-fold increase in IPO shares flying out the doors means KPI(ACE) is on track to exit IPO stage in Janurary 2010. TOP NEWS
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