Concordis Group Inc (CNGI)

[Potse]

CNGI(.60)...added to my position......

WYLIE, TX / ACCESSWIRE / April 21, 2022 / CNGI (OTC PINK:CNGI) has signed an LOI to acquire a profitable SaaS software company. The acquisition is of a cyber security provider for the US Department of Defense and Fortune 1000 Companies. Upon closing of the software merger CNGI will immediately position to apply for a NASDAQ listing.

Post NASDAQ listing, CNGI will spin off its real estate operating subsidiary as a separate company, leaving CNGI as SaaS software pure play platform. CNGI shareholders will benefit as shareholders in both separately trading companies.

CNGI is pleased to announce the addition of two executives to its organization. Joining the CNGI Board of Directors is Edward Berndt who will assist in developing CNGI as a SaaS Cyber solutions software platform. Ed Berndt brings four decades of experience in information technology and organizational transformation to the firm most recently as SVP and Chief Customer Officer at Aspect Software and over fifteen years as a Services SVP with EMC which was acquired by Dell. https://www.linkedin.com/in/edward-berndt-0165661/.

Also joining CNGI is Dick Suedkamp, CPA, a Managing Director with CFGI, who will serve as CFO and manage the Nasdaq listing process. Dick brings over twenty years of accounting advisory and CFO experience to the table, including stints at Deloitte and PricewaterhouseCoopers. linkedin.com/in/dick-suedkamp-948027b

I have increased my position in CNGI since my previous post, with purchases in the 21-60 cent range (did sell a small amount at 70 cents recently). It probably would be more prudent on my part to wait until details of how the reverse merger will be structured are disclosed before adding at these higher prices. Spinning off the current business after the Nasdaq listing makes it pretty hard to guess at how this will be structured, and makes it difficult to determine if I am getting good value or overpaying at this price. But I decided to cross my fingers a bit here and take a chance.

It continues to be fairly difficult to accumulate sizable blocks. My gut feeling is once the trading resistance around this 50-70 cent area clears out and any sizable buying interest starts moving into the stock things might get a bit interesting. Considering how this stock trades, the potential for some wild movements in the share price would certainly seem to exist here.

Based on the LinkedIn account of new Director Edward Berndt, the cyber security software company that he seems very interested in recently is Eclypses Inc. It would seem logical to me that Eclypses might be the proposed RM target mentioned in the letter of intent. If Eclypses is indeed the target, it does looks like a pretty interesting company with good growth potential......

https://eclypses.com/
https://www.linkedin.com/in/edward-berndt-0165661/