no doubt, at the rate they are diluting it will be in the billions(yet again).
This person filing the 13G is all related to NEWL's foray into the coal sector...converting a $24M note and dumping time and time again.
In the Viking Prep Plant transaction, as part of the consideration, the Issuer issued a convertible note in the original principal amount of $24,000,000. In July 2016, the Company issued the Reporting Person 23,635,000 shares toward payment of such note. The Company has the option to pay the principal and interest in cash or shares of common stock. The acquisition agreement also includes a true-up of the proceeds from such shares, but the amount cannot be calculated until such time as all shares issued as consideration of the purchase price have been sold. The Issuer has previously issued shares to the Reporting Person, all of which have been sold.
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