Ngen Technologies Holdings Corp. (fka NGRP)

[Det_Robert_Thorne]

Note conversion can begin again

The reason for the 1:2,000 reverse was to keep NGEN/LIBE in compliance with the convertible debt agreements. Once LIBE becomes LIBED tomorrow, the noteholders will again be able to convert their convertible debt into shares.

I don't expect it to start tomorrow because it's Friday (though it could,) but it should begin again next week.

Retail shareholders will mostly be prevented from selling for a few days, or maybe a week or two, because the TA will have to change the shares in their accounts to the new LIBED shares.

The noteholders won't be subject to this restriction, because they will be selling freshly issued LIBED shares.

I expect the price to pop a bit tomorrow, because of manipulation, but once the conversions begin, unless NGEN/LIBE has some big news planned, the new shares will hit the market faster than they can be absorbed.