What I think is the deal here is Augustine Fund gave VTI an asset (IPVO) valued at $3.3MM for which VTI was to allow Augustine Fund to obtain 22MM shares of IPVO at some later date. At that time, I'm thinking 22MM shares may have been about 99.9% of IPVO and this would have been considered a toxic convert for the company, so before Phil put work into it and breathed new life into this IPVO that he agreed on, he arranged with Augustine Fund that they would have a stand-still agreement with regards to those 22MM shares. Now, I do not know for sure how long a stand-still agreement is effective, but at this point in time, Augustine Fund cannot take on those 22MM shares, from what I understand. And those 22MM shares are definitely NOT 99.9% of the company any more.
That would explain why, as you stated earlier, VTI still holds the shares.
Now is VTI Vergetech or IPVO(NMKT)?
Or is IPVO(NMKT) a subsidiary of VTI?
Or is IPVO(NMKT) a subsidiary of Vergetech which is a subsidiary of VTI?
