General Enterprise Ventures Inc (GEVI)

[ITYS]

On a positive note IF Conboy comes into management or he at the least should be considered an insider as he is giving corporate information regarding company sales projections, business strategies etc THUS his shares would also have further trade limitations in open market under insider regulations. This could be key going forward.
BUT again puzzling why Conboy sold to GEVI if everything in all the many previous NEWS releases were so great??

On April 13, 2022, the Company’s board of directors approved the issuance of 1,000,000 Convertible Series C Preferred Stock, with a value of $4,200,000 to be issued to the vendor of MFB as consideration for the acquisition of the entity (see Note 3). The holder may exercise shares after an initial lock up period of six (6) months following the date of the agreement and may only exchange a maximum of four (4) million shares in a twelve (12) month period and may not hold or beneficially hold more than 10% of outstanding at any time. On June 7, 2022, the holder of the Convertible Series C Preferred Stock converted 50,000 shares of the Company’s Series C Preferred Stock into 1,000,000 shares of the Company’s common shares.