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nodummy

05/09/18 2:23 PM

#135301 RE: Monksdream #135300

NNRX - looks like the Mark DeStefano, Ed DeStefano, and T.J. Jesky group filed for custodianship of the abandoned ticker on March 8, 2018 in Clark County, NV - Case No. A-18-770749-B

They were granted custodianship on April 5, 2018.

Then yesterday they reinstated the shell at the Nevada SOS

https://www.nvsos.gov/SOSEntitySearch/CorpDetails.aspx?lx8nvq=1EPmkcHj8hF7PUSzDPnPsA%253d%253d

The share structure is hard to estimate. The last time the Issuer disclosed the SS was in 2015 when it reported 580,665,512 shares outstanding and a float of around 500,000,000 shares.

That same year they raised the A/S from 750,000,000 to 5,000,000,000

Then we get an ownership filing done by a toxic lender showing that they added another 58 million shares to the float in early 2016.

NNRX is far from a clean shell. It had over $1 million in convertible toxic Notes on the balance sheet at the end of 2015 plus interest due on those Notes. So the float could have easily grown a lot since 2015.

And there is nothing stopping those Note holders from calling for conversions now that the ticker is active again.

I'm not sure what kind of play it will turn into. Just depends how much interest it gains, how long people stay interested, and how much dilution retail shareholders will have to wrestle with from those old outstanding debts.

I've seen the DeStefano/Jesky group in the past involved in a lot of other penny stocks. I think the majority of those tickers were higher priced with smaller floats so it wouldn't surprised me at all if they did a reverse split on NNRX in short order once they clean some of that old debt off the books through some debt conversions.





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Jayman5000

05/09/18 2:26 PM

#135302 RE: Monksdream #135300

No filings in 2 years, it's a NV reinstatement play.