Sylios Corp. (fka UNGS)

[Black40]

$2m for certain assets in WV and $2m in debt which would be about all of UNGS debt on the balance sheet. I think more than half the wells aren’t in production and this is an exit strategy because they don’t have the funds to get these wells going. I also feel this is a great deal for them to get cash and get rid of all their debt. They have Kentucky oil and gas wells and have another deal in the works for additional wells for $200,000. UNGS is keeping some of the deep wells in WV and selling the rest.