V Group Inc (VGID)

[Mickey4]

That is correct, Boon has 30 days from the time they received Buzzy's request to convert the block of VGID preferred shares to common shares. That request was sent on the 15th of November so, today is just now 30 days. However, the TA did not acknowledge the request until the 19th of November. Bottom line, I expect the spinoff shares could be converted this week or next but certainly by the end of the year and if not, then Buzzy may have to get a court order but he said, one way or the other, he would get it done!

Up until now there has not been a lawsuit filed and I hope it doesn't come to that. Buzzy negotiated in good faith for a year and a half until they finally came to an agreement to issue preferred shares in order to accommodate the spin-off and then those preferred shares came with a two-year maturity requirement: Buzzy even gave up his share of the spin-off, in fact, returned approximately 68 million shares to the LOFB Treasury in order to make this deal; remember, he held approximately 815,650,000 shares of VGID at the date of record. Anyway, it might take a little longer still but it looks like, to me at least, that we are finally going to get our spin-off shares as promised, woohoo, go Buzzy!