Cannagistics Inc (CNGT)

[YouOnlyLiveOnce]

ARTICLE 7
POST CLOSING
 
7.1                 Reverse Stock Split: Subject to Financial Industry Regulatory Authority, Inc. (“FINRA”) CNGT shall reverse split its common stock 1 for 100.
 
7.2                 Stock Subscriptions: CNGT shall use its best efforts to complete a $5,000,000 placement of equity securities pursuant to Regulation A of the Securities Act of 1933. The first proceeds raised pursuant to the Reg A shall pay back the $350,000 Promissory Note. The CNGT $350,000 Promissory Note is attached hereto as Exhibit O.

https://www.sec.gov/Archives/edgar/data/1304741/000166357721000337/ex10_1.htm



The only way the deal gets done is a REVERSE SPLIT..AND a Reg A for .20..why would anybody pay .20 when they can get it for a penny and a half on the open mkt...buuuuut... A massive RS could increase the SP enough to make a .20 Reg A offering more appealing...but the inevitable split will hurt most current shareholders...flip the flip...but dont be the last one holding the leash..