Replies to post #4471 on Next Generation Management Corp. (NGMC)

[Screech691]

did you see this from the 8K?


On February 12, 2014, Joel Sens resigned as an officer and executive officer of Next Generation Energy Corp. (the “Company”) pursuant to an Agreement entered between the Company, Mr. Sens, Knox County Minerals LLC and Seawright Holdings Inc. (“Seawright”) (the “Sens Agreement”). The Sens Agreement was dated January 24, 2014 but signed on February 12, 2014. Pursuant to the Sens Agreement, Mr. Sens and Seawright agreed to return 4,650,000 and 10,000,000 shares of common stock, respectively, to the Company for cancellation. In consideration for Seawright returning the 10,000,000 shares of common stock to the Company, the Company agreed to a reduction of $25,000 in the amount of debt owed to the Company by Seawright. Further, the parties agreed to a full release except with respect to the debt owed to the Company by Seawright.