Simple, Quick DD on PFNO
This will be a very quick and simple explanation of what’s going on with PFNO. This is for newbies and those who’ve had a difficult time following everything. I’m not going to bog this down with links and reposts because that’s all been posted many times.
Ergokonzept Takeover of PFNO
Egokonzept is looking at taking over PFNO. It holds over 40 percent of PFNO shares and looks to buy anther 3 billion on the open market – first securing the float. Ergo will then own 2/3 of the company -- a friendly takeover.
This makes this VERY thin and leaves fewer-than-thought shares available for the public to buy.
First, Ergokonzept will go public on the GXG Markets. This will happen soon.
PFNO A Different Company
When Ergo takes over, PFNO will handle all non-European business for the group. It's first duty will be connected to the boxing empire.
Everlast Connection
Everlast owns 49 percent of Everlast Energy drink for Europe (just confirmed this afternoon) and it has an option to buy into the US market and Russian market.
Everlast, simply put, IS boxing. This will be huge for PFNO because it would handle these affairs.
ING Bonds
PFNO owns nearly $1.6 billions in ING bonds (yes, billion) and both sides dispute the authenticity. Ergokonzept and group have looked into this and have stated they will legally battle ING.
Summary
First thing to focus on is Ergokonzept going public. That is the catalyst for great things for PFNO: the takeover, the connection to Everlast Energy Drink, and the battle for the bonds.
