They are right. "Foodfest Corporation" is not "Foodfest International 2000 Inc" anymore.
As far as anyone knows for sure, the current Foodfest company has no connection to the ticker, other than a shared founder. That shared founder was also the founder of Zoglo's and CEO up until December.
There's lots of misleading or mistaken comments here. I hope the mods who set the sticky the posts and photos of hummus are just confused and not actively trying to mislead.
Here's the facts:
- We know that the company Zoglo's intends to go public via reverse takeover in coming months.
- We know that the founder of Zoglo's had the ticker $FDFT for Foodfest International 2000 Inc.
- We know that in 2013, he set it up to act as a shell and sold subscriptions to two start-ups so they could go public. They both failed.
- We know that the most expensive part about going public via reverse takeover is the takeover.
- We do not know who has control of it now, or if the founder has a significant number of shares.
- We know that someone is in control. A Certificate of stock designations from 2015 meeting was filed in 2019 by Whitney Wiseman, and someone filed an 2020 annual report in Delaware
We are betting that the founder of Zoglo's still has control of $FDFT and that it is the likely target for a reverse takeover to bring Zoglo's public.
That's it.
As far as I can tell, everything else posted here is irrelevant.
There's no likely reason why an established grocery distribution company would want to go public again. Using the ticker to take Zoglo's public to fuel a major rebrand and relaunch is the only likely upcoming catalyst.
Still, I think it is a really compelling bet to make. I'm in.