AB1 - private off market trading facility by mgmgt, page-29

yep there is nothing wrong with BD listing per se but it is certainly a red flag that the entity seeks to short cut IPO and skirt issuance of a proper prospectus. BD listings also ends up with legacy shareholders whose interests and time horizons may not align with new entity. one would hope that BD listing would end up with a better result for all shareholders. In the case of AB1 I can't see that this has occurred. Integrity is at the heart of the matte and I think that the senior managers of AB1 owe the shareholders a honest and thorough explanation.