Replies to post #109805 on Trans Global Group Inc (TGGI)

[w6w9t8015]

so what might this mean for tggi if anything?


Series C 540,000 shares Authorized Convertible into Common at $1.00 per share., carries no voting
rights, is Callable by the Corporation and the Corporation has a first right of refusal to purchase the
Preferred shares before any conversions or sales.
On October 15, 2019 the Corporation issued Trans Global Group, Inc., 540,000 shares of its Series C
Convertible/Callable Preferred stock. The Shares of Preferred are Callable by the Corporation and the
Corporation has a first right of refusal to purchase the Preferred shares before any conversions or sales.
Trans Global Group and the Corporation along with a 3rd party had agreed to complete a transaction
which in the end Trans Global Group would have had a significant asset tied to its business and a new
CEO, the Corporation would have cancelled 540 million shares of Common stock and the 3rd party would
have been paid. Unfortunately, the deal did not close at the last minute and returning the shares would
not have benefited Trans Global Group, since both entities have the same control person it would be near
impossible for Trans Global Group to sell any of the shares. The Preferred shares give Trans Global
Group the ability to raise capital to further its business plan without any dilution to its shareholders.