The company is now a private acquisition vehicle under Black Pearl control. Monitor for future merger or acquisition announcements that could create a new public listing or exit event for the acquirer's stakeholders.
Price Chart
Executive Summary
Black Pearl Equities completed its acquisition of Selectis Health (GBCS) via a short-form merger on October 5, 2026, taking the company private. All remaining public shares were cashed out at $5.75/share, and the company will be delisted from OTCQB and deregister its securities. The merger was funded by an $18.23M term loan facility secured against substantially all assets, and the new bylaws designate the company as an acquisition vehicle for future acquisitions.
Key Facts
- Merger completed on October 5, 2026, with the company becoming a wholly owned subsidiary of Black Pearl Equities II, LLC.
- Each remaining public share converted into $5.75 cash; aggregate consideration ~$17,635,589.
- Company assumed $18,226,250 in term loans at 5.0% interest, maturing August 28, 2031, secured by substantially all assets.
- Shares will no longer be quoted on OTCQB; Form 15 to be filed to terminate SEC registration and reporting obligations.
- Prior board and interim CFO replaced by Abraham Schwartz and Zalman Schapiro as directors and officers.
- Amended articles authorize only 1,000 shares of no-par common stock; new bylaws restrict share transfer and position the company as an acquisition vehicle.
Financial Impact
Total cash consideration of approximately $17,635,589 paid to public shareholders, funded by $18,226,250 in term loans at 5.0% fixed interest.
Risk Factors
- The $18.2M term loan is secured by substantially all assets; an event of default could trigger a further change of control via the collateral agent's remedies on pledged equity.
- No public market or trading liquidity remains — shares are delisted and will be deregistered.
- No financial performance data or guidance provided; the company's post-merger financial health is opaque without ongoing public filings.
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-046568 |
| Exhibit: ex3-2.htm | 0001493152-26-046568 |
| Exhibit: ex3-1.htm | 0001493152-26-046568 |
| Document: 0001493152-26-046568-index-headers.html | 0001493152-26-046568 |
| Document: 0001493152-26-046568-index.html | 0001493152-26-046568 |
| Document: 0001493152-26-046568.txt | 0001493152-26-046568 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 9, 2026 16d ago | 15-12G | — | awaiting T+20 | — | — |
Oct 9, 2026 16d ago | 8-K | — | awaiting T+20 | — | — |
Sep 8, 2026 6w ago | 8-K | $5.74 $5.73 | ▼ −0.17% | ▼ −2.37% | — |
May 20, 2026 22w ago | 8-K | $3.31 $3.25 | ▲ +1.81% | ▲ +2.55% | — |
May 7, 2026 24w ago | 8-K | $3.14 $3.10 | ▼ −1.27% | ▼ −1.30% | — |
Mar 19, 2026 31w ago | 8-K | $4.05 $4.40 | ▲ +8.64% | ▲ +1.02% | — |
US Market Status
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