Other than fraud, what is it called if someone somehow goes through the trouble of making a fake corporations and selling shares of said corporations in the pink sheets for massive profit? Or might this somehow be legal and a common thing? I really want it to be the latter.
What if someone did just enough business to sell shares without being considered fraud? And it might turn into something legitimate and worth while in the long run, but start off gambling with investor's money?
You still talking about fraud, aren't you?
You sound like you're looking for moral justification from us to commit an illegal financial act.
You might get that from /b, but I would like to think that /biz is more law abiding when it comes to business.
OK, as long as it is just a thought experiment for shits and giggles...
The usual way many do it is to find a publicly held company that is failing (like a penny stock), and do a reverse buyout (where Company A buys Company B, but retains Company B's name and stock symbol)
From what I read years ago, getting a stock symbol by buying out a failing company is MUCH easier than jumping through the hoops of trying to do a listing from scratch.
However... even useless bullshit stock symbols require compliance and paperwork. So you'd want to have a reasonably experienced attorney handling the legal side.
And no, you probably couldn't get the symbol DUDE or CUSH, though I'm not sure.
I'm just looking for ways to generate passive income here. I think I'll start an online business reselling bullshit on Ebay instead. Eventually make it autonomous enough to keep it or sell it off. Fuck prison.
Also, not doing it for the Kush. Doing it because I feel my body giving out on me and I'm afraid I won't be able to do the menial jobs I've always had soon.