The material terms of the Agreement are as follows: (i) NewCo, Inc. will contribute real property holdings throughout the United States in exchange for 85,000,000 newly issued shares of Common Stock of the Company; (ii) Englander Capital Corp. will dismiss the currently pending litigation in exchange for 7,500,000 of newly issued shares of Common Stock of the Company; and (iii) the current shareholders of the Company will represent 7,434,865 shares of Common Stock of the Company.
The Board of Directors feels this is the best opportunity for the shareholders of the Company to realize value and be a part of an operating company that will hopefully grow and increase in value. Any shareholder that would like to receive a copy of the Agreement, a request can be made to counsel for the Company at: Heimerl Law Firm, 32 Dumont Road, Post Office Box 964, Far Hills, New Jersey 07924
Englander dismissing his case in exchange for 7.5 mil shares, the link above is to the court case, where Englander is owed $1,000,000. 7.5 mil shares for 1 mil dollars is .133/share. Current price .10
You think a hedgefund manager will not make money here??
I did recieve a copy of the merger doc from the law firm, and Englander also will have a seat on the board.
Hoping to see something soon on this. Interesting shell play here.
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