White financial: Baron Capital owns three blank ch

White financial: Baron Capital owns three blank check shell companies that were created in 1998. Each of the companies has a minimum of 46 shareholders allowing them to become public traded corporations as conditions permit. A blank check company is a development stage company that has no specific business plan or purpose or has indicated its business plan is to engage in a merger or acquisition with an unidentified company or companies, other entity, or person.


Baron will bring each blank check shell company public as a holding company. Each company will have its own business plan and will focus on a different market sector.

White Financial will be the first company brought public through an S-1 registration as a development stage company in the Oil & Gas sector. The company will raise funds to be used to buy into re-work wells that produce a minimum of 10 bpd and have an extraction cost of between $8 - $15 per barrel. White Financial will be renamed prior to the S-1 being filed. Since the company has never had operations the audit process will take very little time to prepare.


The White Financial S-1 will be filed before the end of the current calendar year. Shareholders of Baron will be offered an opportunity to exchange all or part of their shares of Baron for shares of White. Those shares will be registered as part of the S-1. The conversion ratio will be determined at the time of the S-1 filing and will be based on the then-current market price of Baron.