Ngen Technologies Holdings Corp. (fka NGRP)

[AC7880]

I was incorrect on that point. I was wrong. Completely wrong.

"The share capital in a private limited company is the amount of money invested by its owners in exchange for shares of ownership. Company directors are typically shareholders in their own companies. Shareholders exercise certain powers over how the company is run and Share capital and company formation.

Here is how I see it now: It looks like "the company" (LIBE) is purchasing $200,000 worth of privately held Cigawatt shares from the private non public Cigawatt company.

From the 8-K:

" the Company entered into a Stock Purchase Agreement (the “SPA”) with CigaWatt, Inc. (“CigaWatt”) and the shareholders of CigaWatt to purchase 100% of the outstanding shares of capital stock of CigaWatt in exchange for $200,000."

That raises a whole new question.
************LIBE has $40 in total assets. Where are they (actually the shareholders with Conway at the helm) getting $200,000 to buy Cigawatts privately held non public shares? ***********

"purchase 100% of the outstanding shares of capital stock" Does this not indicate the entire worth of Cigawatt is only $200,000?

Where is this new 200K coming from? We all know MORE LOANS is the only possibility -- for more future dilution (plus markup or "interest" on the loan).

Plus we STILL have court judgements, STILL have Conway's deferred salary to cover, and STILL have $666,790 in liabilities.

So if Cigawatt 100 percent of private company shares can be purchased for only $200,00, and current LIBE shares are 1.7 billion, plus another coming 200K of dilution - it may be even worse than I originally thought -- at the end of the day after hard close.