Nouveau Life Pharmaceuticals Inc (NOUV)

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you mean this one ?

PURA recently spun-off its cannabis cultivation operation with facilities in the U.S. and Canada to NOUV. In conjunction with the spin-off, a portion of the consideration that PURA received from NOUV was slated to be converted into common stock and that NOUV common stock was to be issued to shareholders of PURA. Specifically, PURA sold its cannabis cultivation business to NOUV in exchange for a $1.2 million convertible note with a commitment that the note would promptly be converted to common shares of NOUV and that those converted shares would be distributed in a stock dividend to the shareholders of PURA. PURA and NOUV originally planned to wait for NOUV to execute a reverse spilt before executing the dividend distribution. While pursuing that objective, it became clear the execution of the reverse split would take some time. As NOUV updates its filings and executes on its business plan with the new cannabis cultivation operation, optimistically, a reverse split of NOUV might not be necessary. So, PURA and NOUV management have explored alternative options. In light of the fact that the common shares of NOUV issued to PURA shareholders will not be immediately free trading and will have to season to be free trading under an exemption from registration, PURA and NOUV have resolved to issue a dividend of preferred shares convertible into common shares. In this way, a dividend of equity can be rapidly issued and the seasoning of shares for exemption can begin. If a NOUV reverse proceeds as originally planned, then shareholders will receive the original allocation of 1 common share for every 5 shares of PURA. If a reverse proves unnecessary, then the conversion of preferred shares into common shares will be adjusted accordingly to affect an equal dividend allocation.

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