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KENILWORTH SYSTEMS (KENS)

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Last Post: 3/22/2022 11:44:18 AM - Followers: 14 - Board type: Free - Posts Today: 0

 

Kenilworth Systems Corporation
               

KENILWORTH SYSTEMS CORPORATION AND SUBSIDIARIES

 

Contact Information Business Description
Kenilworth Systems Corp.
185 Willis Avenue
Suite #4
Mineola, NY 11501

http://www.kenilworthsystemscorporation.com

  • Phone: (516) 741-1352
 


 

  • OTC Market Tier

    Pink Sheets Current
  • Primary SIC — Industry Classification

    7990 - Services-Miscellaneous Amusement & Recreation
  • State Of Incorporation

    NY
  • Jurisdiction Of Incorporation

    United States
  • Company Officers

    Herbert Lindo, President, CFO
  • SEC Reporting Status

    SEC Reporting Company
  • CIK

    0000055234
  • Fiscal Year End

    12/31
  • Estimated Market Cap

    $2,828,731 as of Oct 28, 2008
  • Outstanding Shares

    404,104,486 as of Jun 30, 2008
  • Company Notes

    • Note=9-98 company emerged from Chapter 7 bankruptcy proceedings
    • Formerly=Kenilworth Research & Development Corp. to 11-79
    • Note=2-91 company's Chapter XI case under Federal Bankruptcy Code converted to Chapter 7 Bankruptcy Liquidation
  • Security Notes

    • New Issue=2-69 120,000 shs at $4 by S.B. Cantor & Co. et al.
  • Transfer Agent

    American Stock Transfer & Trust Company
    59 Maiden Lane
    New York, NY 10038

 

Kenilworth in Active Negotiations with Investors Providing $30 million for Dutch Auction

A Financial Consultant, engaged by the Company, has been in active negotiations with a group of potential investors that are interested in providing the funding for the Dutch Auction, Subject to obtaining an underwriter and approval by the SEC.

SUMMARY OF PROPOSED BRIDGE LOAN/UNDERWRITING THAT EARNS $50 MILLIION IN A SECURED INVESTMENT

Kenilworth is soliciting a $230,000,000 bridge loan that requires only $30,000,000 in actual cash that will be repaid in a proposed underwriting later this year.

The $30,000,000 will be deposited in an escrow account controlled and administered by the bridge loan lender. The incentive for the lender is a $50,000,000 profit by purchasing 200,000,000 shares of Kenilworth Common Stock, par value $0.01 per share at $0.05 per share ($10,000,000) directly from the Company that is not required to be evidenced or deposited in escrow, and the purchase of 200,000,000 Common Shares in a proposed Dutch Auction, conducted on behalf of the bridge lenders, at a maximum offering price of $0.15 per share that will require the $30 million. The lenders profits are earned by acquiring 400,000,000 Common Shares that are sold in the underwriting at $35.00 per share, after @ 100-1 reverse split that is part of the underwriting, for a net profit of $50,000,000. The other $200,000,000 required for the bridge loan is deferred and cancelled when the proceeds from the underwriting are disbursed.

After the reverse split and underwriting there will be 8,900,036 Common Shares outstanding that include the 6,571,428 Common Shares at $35.00 per share ($0.35 before the reverse split) sold in the underwriting.

After adjusting for the purchase of 400,000,000 shares pre-reverse split by the bridge loan lenders, the cancellation of the additional non-issued funding of $200,000,000 and the $10,000,000 for the purchase of the 200,000,000 shares of Common Stock directly from the Company, Kenilworth will receive, net of all expenses, including underwriters, legal fees and printing costs, $117,000,000. On a pro forma balance sheet basis, Kenilworth Common Shares, the only shares outstanding, will have a book value of $13.14 per share with 8,900,036 shares outstanding (after the 100-1 reverse split) plus $35,000,000 tax carry forward loss per share of $3.93 which will equal $17.07 with cash of $117,000,000. In addition to the potential future business, it supports a proposed stock offering price of $35.00 per share ($0.35 before the reverse split).

An additional $10,000,000 will be available to Kenilworth if, in the Dutch Auction, the maximum price paid for shares averages $0.10 per share. There are 490,036,586 shares outstanding as at June 30, 2009 with options to acquire additional shares at an average per share price of $0.01 per share totaling 132,409,500 shares. Many of our shareholders that hold options to acquire additional shares at an average price of $0.01 will tender the shares they own now and exercise their options with the proceeds.

The bridge loan documents will contain a clause similar to a Material-Adverse-Change-Clause that will permit the cancellation of the bridge loan. Kenilworth will pay the twelve percent (12%) interest on the loan from the date the escrow deposit is made for the Dutch Auction in the event the Company fails to obtain a firm underwriting commitment or is unable to receive sufficient buyers in a best effort commitment. The fees payable to the escrow agent will be paid by Kenilworth.

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http://www.kenilworthsystemscorporation.com/media/RouletteVideo360x200.mov

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PostSubject
#476   It seems that Kens filings show $300 million WhiteOwl 03/22/22 11:44:18 AM
#475   I am curious to see the next filing. WhiteOwl 01/26/22 09:42:34 AM
#474   Looks like he sold out, perhaps for the WhiteOwl 01/13/22 04:10:26 PM
#473   Looks like $300 million in assets. Got WhiteOwl 01/12/22 04:24:19 PM
#472   300 million assets, got to be worth something! WhiteOwl 01/12/22 04:05:04 PM
#471   It looks like this company is reorganizing or WhiteOwl 01/12/22 01:06:30 PM
#470   Does anybody know what’s going on here. WhiteOwl 12/01/21 11:39:33 AM
#469   Wow, I sold half yesterday at .51. WhiteOwl 11/11/21 01:21:08 PM
#468   .99 hitting bonedaddy77 11/11/21 12:41:30 PM
#467   Now at .66 crazy how it spiked north. bonedaddy77 11/11/21 09:37:31 AM
#466   I have shares I’ve kept for some time WhiteOwl 11/09/21 12:08:12 PM
#465   There are only 1,635,210 shares held at the bonedaddy77 11/09/21 11:35:11 AM
#464   I read that, but still don’t know why WhiteOwl 11/09/21 11:32:49 AM
#463   This finally popped up. They had an 8K bonedaddy77 11/09/21 11:16:10 AM
#462   Does anyone know what’s going on here? JMHO WhiteOwl 11/05/21 04:22:50 PM
#461   OH...I CAN BUY ANYTHING WITH YIELD AND UP 1TIMEPLEASEGOUPPPPP 09/17/21 09:14:57 AM
#460   schwab have Eturd as well but no avail threewheeler 09/17/21 09:13:12 AM
#459   I HAD NO ISSUE WITH ETARD~ WHAT BROKER 1TIMEPLEASEGOUPPPPP 09/17/21 09:11:36 AM
#458   Your order cannot be accepted. This security KENS threewheeler 09/17/21 09:10:22 AM
#457   PINK CURRENT TODAY~ CFGN ALREADY GAPPIN HER~ BACK 1TIMEPLEASEGOUPPPPP 09/17/21 08:47:36 AM
#456   $KENS---> PINK CURRENT TODAY~ SHOULD BE A NICE 1TIMEPLEASEGOUPPPPP 09/17/21 08:24:05 AM
#455   Yes, he almost died a while back. WhiteOwl 09/16/21 12:27:27 PM
#454   Amazing that Snyder's still around or that "he Helter Skelter 09/15/21 02:40:17 PM
#453   I checked yesterday, I go back to 2013 WhiteOwl 09/15/21 01:21:18 PM
#452   Interesting info. Thanks WhiteOwl. Look at that spread! Helter Skelter 09/14/21 11:15:36 AM
#451   They were the first ones to have a WhiteOwl 09/14/21 08:35:51 AM
#450   Yes, I know WhiteOwl (shm*). Helter Skelter 09/13/21 10:45:24 PM
#449   HS, I am in other things with you. WhiteOwl 09/13/21 04:58:32 PM
#448   10Q should have more info on this: Helter Skelter 09/13/21 12:09:07 PM
#447   KENS blew her lid today. Waiting for the Helter Skelter 09/13/21 12:03:34 PM
#446   Very nice, congrats! MadeBucksOnThis 08/12/21 12:55:43 PM
#445   KENS Market Cap $237,605 https://www.otcmarkets.com/stock/KENS/security Helter Skelter 08/12/21 12:55:07 PM
#444   KENS 10-K > https://www.sec.gov/Archives/edgar/data/0000055234/0001477932 Helter Skelter 08/12/21 12:53:53 PM
#443   saw that MadeBucksOnThis 08/12/21 12:53:49 PM
#442   KENS 10-K filed w/ SEC today! Helter Skelter 08/12/21 12:53:13 PM
#441   KENS Verified Profile on OTCM today MadeBucksOnThis 08/14/20 10:59:02 AM
#440   Something going on here! WhiteOwl 02/12/20 04:43:42 PM
#439   $KENS: More action here than on $TRXO makinezmoney 12/06/19 09:09:31 AM
#438   Highest close in a year and a half.....interesting.... Ricosauve 11/15/18 09:49:00 PM
#437   KENS is severely delinquent in filing their Financials Renee 02/22/15 10:33:50 AM
#436   KENILWORTH SYSTEMS SELLS PATENT HOLDINGS TO INTERACTIVE SYSTEMS rubs1 12/10/14 04:28:21 PM
#435   The annual Kens letter is out.... rubs1 12/14/13 07:51:07 PM
#434   2.35 1000v RACKnRICKY 10/17/13 07:29:50 PM
#433   kens 2 bucks now 7156 vol. RACKnRICKY 10/15/13 07:21:41 PM
#432   kens 1.01 on 1600 vol RACKnRICKY 09/06/13 06:55:41 PM
#431   .60 17k vol. RACKnRICKY 09/03/13 08:15:44 PM
#430   .44 1200 vol RACKnRICKY 08/27/13 09:58:16 PM
#429   .39 now 5k vol RACKnRICKY 07/30/13 10:13:47 PM
#428   up 25% 120 vol,lol .30 now RACKnRICKY 07/22/13 09:52:05 PM
#427   up 74% 3000 vol RACKnRICKY 07/21/13 05:52:29 AM
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