Logiq Inc (LGIQ)

[balamidas]

Sterling and ALL ,here is the clarification :


IRIS has 6 subsidiaries

http://www.iris.com.my/

and the biggest part of their revenues comes from the waste-to-energy one

and looks like they want to focus on the waste -to -energy direction and Renewable Energy businesses that represent the biggest part of their revenues

so they choose to merge with STOA for that matter

frome the letter of intent with STOA:

"IRIS and Sitoa, both of which are technology companies, identified the Waste-To-Energy and Renewable Energy businesses as a growing and timely priority and thus appropriate to be acquired by Sitoa because they could potentially achieve an attractive valuation on a U.S. Stock exchange, enhance shareholder value, attract growth capital and expand its business."

on the other hand they could sell the other units to whoever they want

thus the letter of intent with DMPD that does not include waste -to-energy in it but only certain assets

many holding companies sell unwanted units and focus on the most lucrative ones

and STOA is the one involved with the WASTE-TO ENERGY and Renewable Energy businesses letter of intent


STOA transfer agent confirmed 264 million shares yesterday

watch for a big run here


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