TRS posts small loss to remain listed after pushing out Mega deal deadline

Thu, 20 Nov 2014

By Jonathan Underhill Nov. 21 (BusinessDesk) - TRS Investments, which is in talks with file storage and encryption firm Mega to be the vehicle for a proposed backdoor listing, said its first-half loss about doubled to $25,000, which it attributed to increased share registry costs. Under the deal, TRS would acquire Mega for $210 million by issuing 700 million shares at 30 cents apiece to Mega shareholders, after undertaking a 148 for 1 consolidation. Mega shareholders would then own 99 percent of TRS, which would change its name to Mega. R...

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