Replies to post #85787 on Ngen Technologies Holdings Corp. (fka NGRP)

[Det_Robert_Thorne]

The fully-diluted market cap already is $20M

20mill Market caps gets us to 10bucks for starters.

In order to properly calculate the market cap for NGEN/LIBED, one has to take into account the 1,000,000 Series X Preferred Shares held by insiders, which following the 1:2,000 reverse split and per the terms set down in the Amended Certificate of Designations filed in the State of Nevada for that class of stock, are now each convertible into 33.855 shares of the common.

That's a total of 33,855,026 shares on conversion, which when added to the current 1,857,584 shares (as of the day of the RS), gives a fully-diluted OS of 35,712,612 shares, with insiders currently holding 94.8% of the value of the company.

At Friday's close of $0.57, that's a fully-diluted MC of $20.36M.


BTW, I think that the company amended the Series X conversion rights at FINRA's request, because the original designation gave the insiders 97% of the company in perpetuity. The amended designation defines specific conversion numbers, starting at 67,710.05 common shares per each Series X share, and adjusts for forward and reverse splits.

With the 1:2,000 RS, the 67,710/share becomes 33.855/share.

Finally, as the OS rises due to debt holders converting their debt to common and dumping those shares into the market, I expect to see the company again amend the designation of the Series X to increase the conversion ratio, so that the insiders hold absolute majority control of the company.