| Followers | 2565 |
| Posts | 300168 |
| Boards Moderated | 29 |
| Alias Born | 04/12/2001 |
Saturday, May 28, 2016 4:50:06 PM
This is good:
Portage Resources, Inc. had a previous market valuation in excess of $480 million Dollars.
They don't add that its current market cap is $3.3 million, and no doubt that's too high by a good deal. Luna Belfiore, the CEO of POTG, was just "acquiring" his own properties in the name of the company back in 2011, and profiting handsomely by doing so.
Is it just me? Or is it the heat wave? Or does that stock purchase agreement make very little sense? What's with this?
What does it have to do with the current supposed stock purchase agreement? Nothing that I can see.
And the numbers? The Seller, POTG (but obviously just Luna Belfiore) is unloading 480 million shares of POTG at $0.0022. That's $1,056,000. But what money is actually changing hands? None that I can see. He's selling them for 1 million shares of WOGI at $0.0018. That's $1,800. So what's all the babble about "good funds" and a "certified check"? Or is some actual money involved, but whoever wrote this absurd document was unable to make that clear?
Why all the nonsense about WOGI being an accredited investor?? That would be appropriate if a company were selling stock to an investor--whether an individual or a corporation or LLC--in a private placement, but that isn't what's going on here.
It certainly appears that no securities attorneys were involved in the preparation of this document. And what's up with WOGI? OTCMarkets shows it as "dark or defunct". It hasn't made any disclosure to them since June 2015. It's still active in Florida, but only just. Its most recent filing with them was an annual list submitted on 30 April 2015.
http://search.sunbiz.org/Inquiry/CorporationSearch/GetDocument?aggregateId=domp-p05000066269-4fb2ff81-5d9d-45dc-a189-116ef26bb484&transactionId=p05000066269-d048ab1e-0f8c-484c-9ee3-847e302bc547&formatType=PDF
The new one must be almost a month overdue by now.
Obviously this news is some kind of lame bid for attention, but what does it really mean? Is it supposed to turn into a reverse merger? After all, with the acquisition of those 480 million shares, WOGI will control POTG. FINRA may get another chance to reject a corporate action request.
And finally, in the Handshake Photo, which is Hall, and which is Luna? I'd guess Hall's on the left, but you never know...
Portage Resources, Inc. had a previous market valuation in excess of $480 million Dollars.
They don't add that its current market cap is $3.3 million, and no doubt that's too high by a good deal. Luna Belfiore, the CEO of POTG, was just "acquiring" his own properties in the name of the company back in 2011, and profiting handsomely by doing so.
Is it just me? Or is it the heat wave? Or does that stock purchase agreement make very little sense? What's with this?
What does it have to do with the current supposed stock purchase agreement? Nothing that I can see.
And the numbers? The Seller, POTG (but obviously just Luna Belfiore) is unloading 480 million shares of POTG at $0.0022. That's $1,056,000. But what money is actually changing hands? None that I can see. He's selling them for 1 million shares of WOGI at $0.0018. That's $1,800. So what's all the babble about "good funds" and a "certified check"? Or is some actual money involved, but whoever wrote this absurd document was unable to make that clear?
Why all the nonsense about WOGI being an accredited investor?? That would be appropriate if a company were selling stock to an investor--whether an individual or a corporation or LLC--in a private placement, but that isn't what's going on here.
It certainly appears that no securities attorneys were involved in the preparation of this document. And what's up with WOGI? OTCMarkets shows it as "dark or defunct". It hasn't made any disclosure to them since June 2015. It's still active in Florida, but only just. Its most recent filing with them was an annual list submitted on 30 April 2015.
http://search.sunbiz.org/Inquiry/CorporationSearch/GetDocument?aggregateId=domp-p05000066269-4fb2ff81-5d9d-45dc-a189-116ef26bb484&transactionId=p05000066269-d048ab1e-0f8c-484c-9ee3-847e302bc547&formatType=PDF
The new one must be almost a month overdue by now.
Obviously this news is some kind of lame bid for attention, but what does it really mean? Is it supposed to turn into a reverse merger? After all, with the acquisition of those 480 million shares, WOGI will control POTG. FINRA may get another chance to reject a corporate action request.
And finally, in the Handshake Photo, which is Hall, and which is Luna? I'd guess Hall's on the left, but you never know...
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
