Replies to post #27811 on New Generation Consumer Group Inc (NGCG)

[I-Glow]

If you had taken the time to read the financials - the original settlement for the $200,000 note was to pay $17k per month!!! Not the entire $200,000 at one time.

So, it is was a extremely unprofessional decision to default on the settlement and end up converting the $200k note into 134,204,000 shares - that is dilution and hurts shareholders. That is a conversion rate of $0.0014/share - that is extremely favorable to the note holders.

It is obvious that NGCG doesn't have any cash on hand other than what they have put in their pockets.

Because being a business owner you you would not make a stupid decision like that to pay off a debt that large just because you have the cash. What they did is get it paid with shares that down the road can be retired and it didn't take cash that can be used for more beneficial things to grow the Co. But you wouldn't think that was being an employee.

IG