Novation Holdings Inc. (NOHO)

[I-Glow]

Let's look at the details of the merger:

All outstanding fully diluted common shares of Registrant at the closing of the merger, including the common shares issued in the conversion of outstanding convertible promissory notes, will be exchanged in the merger on the basis of one new, post-merger share of ACX common stock for each 10,000 pre-merger common shares of Registrant issued and outstanding

So if you own 10 million shares of NOHO after the merger you will own 10,000 shares of the new ACX stock.

The bad thing is that ACX hasn't filed a registration statement.

The merger is expected to close as soon as the SEC has declared effective the registration statement to be filed by ACX...Registrant anticipates that the merger will be closed no later than the end of October, but under the terms of the Agreement and Plan of Merger, must be closed by December 31, 2014

Well, they missed the October deadline.

As usual with Gelmon and Hipple involved it looks pretty dismal.

IG