“Over the past few weeks I received a number of emails from
management of a company called Quintalinux (proposed symbol NASD:
QLNX) indicating that the company had filed a prospectus with the
SEC and is intending to go public in mid- to late-July. After a
number of difficulties in finding the prospectus, a link was
provided to me to take a look at. The company is looking to
raise $24 million at $8.00 per share and list on the NASDAQ
National Market. The Linux side of this company’s business is
definitely start-up and investors are cautioned to do their own due
diligence.“
“First and foremost, I can tell you that the prospectus will not
be found on EDGAR. I did not realize it, but foreign companies are
not required to file a prospectus in an electronic form…”
“This web site is run by the Vice President of Sales at Barron
Chase Securities, the sole underwriter of the deal. Barron Chase is
a small investment house that has underwritten a number of smaller
deals over the past two years. I looked at a few of the firm’s
underwritings and found that it hit a home run on Qiao Xing
Universal Telephone (NASD: XING) while most of its other deals were
down or flat.”