Quote:
Are we going to get TPTW stock if we own RNVA shares? And how much? Thanks to all that answer!
This is from the 8k TPTW filed with the SEC (I could not find an 8k filed by RNVA, although others have mentioned it):
Subject to the relevant SEC approvals it is intended that TPTW shareholders will receive approximately 5M common shares in InnovaQor. TPTW’s intent is to distribute 2.5M of these common shares to its shareholders at a date to be determined in the future. Rennova Health will receive 1M Class A Supermajority Voting Preferred Shares, as well as 2.2M of Series B non-voting shares, except in certain circumstances, with certain designation rights, lock up agreements and other specifications as outlined in the agreement in return for the equity in HTS and AMSG. All debts and liabilities of HTS and AMSG owed to Rennova Health of approximately $22M will be eliminated as part of the equity issuance in InnovoQor. TPTW will end up with a minority interest in InnovaQor. Rennova Health will be responsible to appoint management to the project. It is intended that 1M common shares will vest to management.
Answer:
TPTW is getting 5,000,000 shares for a minority position in the new company, InnovoQor. They have voluntarily chosen to give their stockholders half of it--2,500,000 shares. It appears that RNVA is giving 1,000,000 shares to management. It does not say what they will do with the rest of it, but, sorry to say, there is no mention of giving it to shareholders.
