River Capital

After months of failing to disclose it in SEC filings, a penny stock firm controlled by Bermudian brothers Brian and Scott Lines has given its first hint that an application on its behalf for a Bermuda insurance license has been

A penny stock firm controlled by the senior officers of Bermuda-based investment firm Lines Overseas Management reported a net loss of $778,928 for the 12 months ended December 31, 2004, according to its recent 10K filing with the SEC, increasing its deficit to $1.08 million.However, River Capital Group Inc.'s share price soared during the year, hitting a high of $6.50 on the Pink Sheets market, despite the firm having no full-time employees, no revenue and, some would say, no future.