Replies to post #3102 on NewMarket Technology (fka NWMT)

[sbc357]

What I think is the deal here is Augustine Fund gave VTI an asset (IPVO) valued at $3.3MM for which VTI was to allow Augustine Fund to obtain 22MM shares of IPVO at some later date. At that time, I'm thinking 22MM shares may have been about 99.9% of IPVO and this would have been considered a toxic convert for the company, so before Phil put work into it and breathed new life into this IPVO that he agreed on, he arranged with Augustine Fund that they would have a stand-still agreement with regards to those 22MM shares. Now, I do not know for sure how long a stand-still agreement is effective, but at this point in time, Augustine Fund cannot take on those 22MM shares, from what I understand. And those 22MM shares are definitely NOT 99.9% of the company any more.
That would explain why, as you stated earlier, VTI still holds the shares.
Now is VTI Vergetech or IPVO(NMKT)?
Or is IPVO(NMKT) a subsidiary of VTI?
Or is IPVO(NMKT) a subsidiary of Vergetech which is a subsidiary of VTI?

[Charleoi]

Who? Augustine was a prominent shareholder. So, they had IPVO management (who was essentially dormant at that point) issue the note...the day of the signing the current IPVO officers resigned (IPVO was hardly even operating at that point)

A year later, VTI converted the $3million note payable into 22million shares of IPVO/NMKT