Replies to post #55126 on Bangi Inc (BNGI)

[surfkast]

The offering, if approved has nothing to do with the common stock.

This is a public offering of up to $50,000,000 in eight percent (8%), sixty (60) month promissory notes (the “Notes”) of Bangi Inc. (the “Company”), with a minimum investment of $300 in a best efforts offering. Our offering will be for a maximum of $50,000,000.00 Beginning on twenty seventh month, each Note will be paid on a quarterly basis, interest only, with a balloon payment due upon maturity.

Also noteworthy are the huge expenses associated with the offering. 33%!

$10 million for sales and marketing? (Who is getting paid for sales and marketing?)
$4 million for debt repayment.(To whom?)
$500,000 for administrative and legal.(HMMM, one lawyer intimately involved.)

The pie in the sky looks burnt from the start!






https://www.sec.gov/Archives/edgar/data/1327238/000147793219005622/cobi_1a.htm