Replies to post #3789 on Hydrogenetics Inc (HYGN)

[zeki555]

where did you get this info?

On December 10, 2008, HydroGenetics, Inc.(HYGN) purchased Buffalo Biodiesel, Inc.(BBD) to make it a wholly owned subsidiary of HYGN. The acquisition was for a trade of stock, 200 shares of BBD common shares for 5,736,196 shares of HYGN. It also includes a purchase of 101 preferred shares at 175,000 per share over 24 months . The Company will provide a working capitol al line or credit up to $3,000,000 in exchange of the preferred shares.

link please!!!!!!!

[EarnestDD]

That is about $1.5 Million a month they have to pay for those pref shares.

Talk about massive cash outflows!!!
jmo

The acquisition was for a trade of stock, 200 shares of BBD common shares for 5,736,196 shares of HYGN. It also includes a purchase of 101 preferred shares at 175,000 per share over 24 months . The Company will provide a working capitol al line or credit up to $3,000,000 in exchange of the preferred shares.