Ngen Technologies Holdings Corp. (fka NGRP)

[Det_Robert_Thorne]

Debtholders don't have to file if under 5%

Filings don't lie. No filings for selling shares have been submitted.

The holders of convertible debt don't have to file as long as when they convert, the shares given to them in exchange for debt amount to less than 5% of the current OS.

With a little over 35M outstanding shares, the holders of LIBED's convertible shares can hold up to approximately 1.75M shares before they have to file a report showing that they're a beneficial owner.

But they'll never actually own that many shares for more than a day or two, and in fact, often they will sell the shares without actually holding them, then make the conversion demand to the company a few hours later. LIBE's transfer agent then issues the shares, which completes the transaction without violating SEC rules.

Added in Edit:

BTW, LIBE's OS rose from 18.7M shares on Jan 1, 2018 to 3.71B shares on Jan 1, 2020 without any of the convertible debt holders filing ownership documents.