Logiq Inc (LGIQ)

[exwannabe]

What’s going on with lgiq?

The terms of the just announced financing through Ionic are quite a bit below market. 20% discount to the close for the initial shares, then a somewhat interesting ongoing dribble.

This is of course on top of the long history here of revers splits (15,000-1 1000-1 and 15-1) while using shares to buy out businesses that are dead.

Also, they bought out a pure shell. A company never having more than $3k assets and typical monthly expenses of $200 or so (two Bengies/month). Just because it had clean books to help spin of the Indonesian business with the guy selling food on a scooter. Then forgot to the 10-K in on time.