Shell Company

Definition:

A company that serves as a vehicle for business transactions without itself having significant assets or operations. A Shell Company is defined under Rule 144(i)(1) under the Securities Act as a company that is now, or at any time previous, has been an issuer that has no or nominal operations; and either: (i) no or nominal assets; (ii) assets consisting solely of cash and cash equivalents; or (iii) assets consisting of any amount of cash and cash equivalents and nominal other assets.

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