Replies to post #64741 on Ngen Technologies Holdings Corp. (fka NGRP)

[weasel4339]

I agree I was just explaining to some1 why he thought that

[Det_Robert_Thorne]

What Conway states now about RS is meaningless

THERE IS NO R/S COMING. Company confirmed it on twitter days ago.

“I have NOT had any discussion regarding a R/S with CigaWatt $LIBE”

1) As I wrote in an earlier post, the LOI contained little info about what the terms are, other than the fact that in a reverse merger, Cigawatt would get 97% of the votes via ownership of the Series A stock, which is worthless, but gives the holder something like 10,000 votes per share.

2) The LIBE tweet only says that there has been no discussion of a reverse split SO FAR, not that it won't be discussed in further negotiations or that it won't happen.

3) The tweet doesn't reflect the fact that, once the RM is consummated, the new ownership's 97% voting rights will give them the ability to perform a RS at their whim.

And they will, because they won't want to promote their company as a sub-penny stock with 2B outstanding shares (that's what I expect the OS to be by March 1).