I like it a lot. About noon yesterday it banged the 52 week high with a transaction at 0.049. Five minutes later I took 20,000 shares for a nickel. Boomchucka Boomchucka.....an' away we go!!!!!!!!!!Team Sports Entertainment, Inc., incorporated in 1985, is a development stage company actively engaged in seeking a qualified private company as a candidate for a business combination. The Company has one wholly owned subsidiary, Maxx Motorsports, Inc. Maxx, through its wholly owned subsidiary, Team Racing Auto Circuit, LLC (TRAC), planned to develop, own, operate and sanction an automotive racing league designed to provide content for television and tracks while expanding the existing base of racing fans. Team Sports, which has been in the development stage since its inception, May 15, 2001, did not establish sources of revenue sufficient to fund the development of business and pay operating expenses, resulting in a net loss from inception through December 31, 2003. Accordingly, on August 26, 2003, the Board of Directors of the Company unanimously approved a plan to immediately discontinue its racing operation.
Since August 26, 2003, Team Sports has attempted to locate and negotiate with a business entity for the merger of that target business into the Company. In certain instances, a target business may wish to become a subsidiary of Team Sports or may wish to contribute assets to the Company rather than merge. No assurances can be given that Team Sports will be successful in locating or negotiating with any target business.
A business entity, if any, which may be interested in a business combination with the Company may include a company for which a primary purpose of becoming public is the use of its securities for the acquisition of assets or businesses; a company which is unable to find an underwriter of its securities or is unable to find an underwriter of securities on terms acceptable to it; a company which wishes to become public with less dilution of its common stock than would occur normally upon an underwriting; a company which believes that it will be able to obtain investment capital on more favorable terms after it has become public; a foreign company which may wish an initial entry into the United States securities market; a special situation company, such as a company seeking a public market to satisfy redemption requirements under a qualified Employee Stock Option Plan, or a company seeking one or more of the other perceived benefits of becoming a public company.
Team Sports may seek a business opportunity with entities which have just commenced operations, or which wish to utilize the public marketplace in order to raise additional capital in order to expand into new products or markets, to develop a new product or service, or for other corporate purposes. The Company may acquire assets and establish wholly owned subsidiaries in various businesses or acquire existing businesses as subsidiaries.
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http://quote.barchart.com/texadv.asp?sym=TSPT
http://quote.barchart.com/texsnap.asp?sym=TSPT
http://stockcharts.com/def/servlet/SC.web?c=tspt,uu[m,a]daclyyay[pb50!b20][vc60][iUb14!La12,26,9]&pref=G
I think they have found the merger they have been looking for..............just my dogged opinion.
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DaDog