BioForce NanoSciences Hldgs Inc. (BFNH)

[brooklyn137]

About two years ago BFNH and ELGL signed a MOU for BFNH to acquire the assets of ELGL for stock. No details on the amount of stock were provided. There have been no details since, but the companies now have the same management and BOD. So it seems the deal is still on. The announcement that there would be no reverse split was the first publicly announced verification that the deal is still on. It also possible indicates that the deal is close to closing, but what close means is up for debate.

Also, this announcement referred to the deal as a merger, the first time as I recall that it's been called a merger instead of an acquisition of assets. This is a technical distinction that may make no difference as to it's effect on us, but it is something to be noted.

As to the distinction: see https://www.genesislawfirm.com/asset-acquisition-stock-purchase-and-merger-structures#:~:text=Asset%20Acquisition%3A%20the%20buyer%20buys,combines%EF%BF%BD%20with%20the%20business.