In a surefire sign that, at least until a couple of weeks ago, irrational exuberance pervades the biotech sector American Gene Engineer Corporation files its S-1.
Selling shareholders offer 100M shares on the bulletin board. They will receive all proceeds.
Here are a few gems describing the firm's business (page 18):
The Company has been in the developmental stage since its inception and has conducted virtually no business operations.
The Company has no full-time employees and owns no real estate or personal property.
The Company was formed as a vehicle to pursue a business combination and has made no efforts to identify a possible business combination.