Ngen Technologies Holdings Corp. (fka NGRP)

[Det_Robert_Thorne]

OS now 36.84M shares, up 1.13M since RS

LIBE's TA updated the number of NGEN's outstanding shares as of Jan 31. It's now 36,844,009 shares, up 1.13M since the RS and the conversion of the Preferred shares in mid-January.

That looks bad enough, but factoring out the conversion, that 1.13M increased the immediate post-RS OS of 1.86M by about 61%. Obscurring the relative size of the ongoing dilution could have been another reason for the conversion.