The debt assumption was the cost of the Nexus aquisition/reverse merge. Along with shares issued to YA/Cornell. In TTGLs press releases they talk about aquiring a smaller public company and spinning off Titan EG. So my question is, why won't Titan EG assume/merge with NXNO's shares?
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Titan Global Holdings, Inc. (OTCBB:TTGL), a high-growth diversified holding company, today announced its definitive strategic plan to spin out Titan’s Electronics Group (“Titan EG”).
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The announcement follows Titan’s acquisition of the various secured debt and equity instruments secured with the assets of Nexus Nano Electronics, Inc. (“Nexus”). Titan intends to exercise its legal rights as its lender to obtain ownership of Nexus’ assets. Titan will combine Nexus with the operations of its Titan Electronics Group, creating synergies and efficiencies. Titan Electronics Group includes its legacy PCB divisions of Titan PCB East and Titan PCB West.
According to Management, a spin-off would be accomplished through the pro rata dividend of 100% of Titan EG, a wholly-owned subsidiary of Titan, to all shareholders of record on the record date set by Titan. The Company will file a Form 10 with the Securities and Exchange Commission and will make application for admission to the NASDAQ stock exchange of Titan EG.
"the question is how much does the debt convert into nexus common. My guess would be to the extent that any other shareholders are effectively diluted to virtually nothing. Otherwise, knowledgable insiders would be buying nxno on the open market."
