international venture Society has taken over control of MGON thru custodianship
see below information... there are pros and cons.. good news company will merge in but not everything is a positive...they will make changes imo..a good FOMO stock run at moment.
INFORMATION from SEC LAWYER Brenda Hamilton's web site
good DD on what IVS is suppose to do for MGON shareholders.
WONDER when they will announce shareholder meeting? Maybe Wednesday with merger company?
If the custodianship is granted, the applicant must set a date for a shareholder meeting, and inform all shareholders of record of it; he must then inform the court of actions taken at the meeting. He must also reinstate or maintain the company’s corporate charter, and show that he is “continuing the business and attempting to further the interests of the shareholders.” Unfortunately, custodians of dormant penny shells often disregard those fiduciary duties, performing reverse splits and other actions that may affect the size and value of the holdings of the very shareholders the custodian is obligated to protect. These actions are taken to make the vehicle more attractive to a potential buyer. Once the vehicle is purchased, the custodian and his associates pocket the proceeds from the sale as payment for their purported “services” as a fiduciary and custodian.
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