Chase Packaging Corp (PK) (WHLT) Quote

Chase Packaging Corporation, a Delaware Corporation, is a shell company, as defined in Rule 12b-2 of the Exchange Act. The Board of Directors has been devoting its efforts to establishing a new business and, accordingly, the Company is being treated as a development-stage company, in accordance with... Chase Packaging Corporation, a Delaware Corporation, is a shell company, as defined in Rule 12b-2 of the Exchange Act. The Board of Directors has been devoting its efforts to establishing a new business and, accordingly, the Company is being treated as a development-stage company, in accordance with Statement of Financial Account Standards (SFAS) No. 7, effective January 1, 1999. Managements' plans for the Company include securing a merger or acquisition and other strategies designed to optimize shareholder value; however, no assurance can be given that management will be successful in its efforts. The failure to achieve these plans will have a material adverse effect on the Company's financial position, results of operations and ability to continue as a going concern. Show more