Yeah, they kept the subsidiary but only sold the "brand." Same thing happened with American Metabolix, sold the "brand" (to a former Supplement Group employee) in July 2022 but still listed as one of their subsidiaries. They've also sold Storm Lifestyle to the same ex-employee over at NxGen.
When you go back to all the articles before acquistions, these brands were bringing in millions in revenues, and management dangled things like top retailers are after us, which mystery Fizzique flavor is coming next, we entered the Walmart contest, etc ... All positive news until it just vanished into thin air.
I felt that they played musical chairs within their own businesses and subsidiaries. When they've created Supplement Group Europe, they've sold all their shares in Supplement Group USA. But only S.G.USA had all of the subsidiaries underneath them while S.G. Europe got to play privately, in which S.G.USA paid $50k/mo to ... themselves and additionally into Green Light Development LLC.
Maybe S.G. USA held all the liabilities while they were able to get away with it at S.G.Europe. Before they've got rid of PDPG & TQLB, they held shares in both. Coincidentially, GTEH is the only one left standing, in which they dont hold shares in.
The whole, PDPG, TQLB & GTEH didn't make sense, either. TQLB sold American Metabolix to GTEH for one thing. Second thing, they also reported to S.G. Europe.
I don't know but if you look far back, it feels like GTEH was just paying off the last ticker, PKGM's debt.
The last thing I've could remember following was that the latest reverse split was canned by FINRA for something I can't remember. But it poses the question, how GTEH able to pull of the reverse split back in 2018?
I hope management gets held accountable. They mislead investors.
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