Ngen Technologies Holdings Corp. (fka NGRP)

[Det_Robert_Thorne]

Another non-binding agreement with background complications

LIBE CEO Conway again issues an 8-K about a non-binding agreement, but in this case, a merger/acquisition of the other company must be unwound before the merger with LIBE can proceed.

And of course, the timeline is indeterminate.

From the 8-K filing:

Greenfield and NGEN shall unwind the NGEN-Greenfield Transaction, such that each of Greenfield and NGEN are once again independent entities, and Clifford Rhee and Edward Carter will be the majority shareholders of NGEN (the “NGEN Shareholders”).

Liberated and the NGEN Shareholders shall thereafter undertake a share exchange agreement, pursuant to which the NGEN Shareholders shall exchange 100% of the equity interests in NGEN, which shall be transferred to Liberated, in exchange for the issuance to the NGEN Shareholders all shares of Series A Preferred Stock of Liberated (the “Share Exchange”).

When will we see an 8-K officially ending the CigaWatt deal?

No time to go into this further today, but a closer look at NGEN is in order.