The 20.7% is based on **issued** shares of both NT
Post# of 96879
Posted On: 09/21/2015 4:00:51 PM
The 20.7% is based on **issued** shares of both NTEK and NTGL, not authorized shares.
Here are the numbers as of Feb. 6, 2015:
NTEK
740,000,000 authorized shares
724,874,022 issued shares
NTGL
45 million authorized shares
18.1 million issued shares
The following has been excerpted from NTEK’s quarterly report (published May 16, 2015):
“On February 10, 2015 NanoTech completed the acquisition of High Velocity Enterprises Inc. NanoTech transferred all rights, title and interest to the assets of its gaming division to High Velocity Enterprises Inc. in exchange for 15,000,000 shares of stock in HVEL. The transaction was valued at $739,836. Once the transaction has completed, pass the approval of FINRA and OTC Markets, the name and symbol have changed, HVEL will register the 15,000,000 shares of stock and then transfer them to NTEK. NTEK will in turn distribute them to the shareholders of NTEK.”
On March 24, 2015, the Company also filed a Certificate of Change in order to conduct a 10-for-1 forward split of its issued and outstanding Common Stock. This brought the total authorized shares of NTGL to 450 million and the total issued shares to 181 million, which still holds true today.
I believe the 10-for-1 forward split must apply to all shares, including the 15 million NTGL shares earmarked for NTEK investors as of Feb 6, 2015. This means the total amount of NTGL shares distributed to NTEK shareholders as of Feb 6th should be 150 million shares.
If you divide the number of NTEK shares you owned on Feb 6th by 724.8 million and multiply that by 150 million, you should come up with the amount of shares of NTGL you should receive. (This works out to be about 20.7%.)
For example, if you had 100,000 shares of NTEK on Feb 6th, here's how you would determine your NTGL shares:
100,000 (number of NTEK shares you owned on Feb. 6, 2015) / 724.8 million (NTEK's issued shares) x 150 million (NTGL's issued shares earmarked for NTEK shareholders).
Based on the formula above, you would have 20,693 shares of NTGL.
This is my understanding of things. I could be very wrong, but not for the reason you stated.
Here are the numbers as of Feb. 6, 2015:
NTEK
740,000,000 authorized shares
724,874,022 issued shares
NTGL
45 million authorized shares
18.1 million issued shares
The following has been excerpted from NTEK’s quarterly report (published May 16, 2015):
“On February 10, 2015 NanoTech completed the acquisition of High Velocity Enterprises Inc. NanoTech transferred all rights, title and interest to the assets of its gaming division to High Velocity Enterprises Inc. in exchange for 15,000,000 shares of stock in HVEL. The transaction was valued at $739,836. Once the transaction has completed, pass the approval of FINRA and OTC Markets, the name and symbol have changed, HVEL will register the 15,000,000 shares of stock and then transfer them to NTEK. NTEK will in turn distribute them to the shareholders of NTEK.”
On March 24, 2015, the Company also filed a Certificate of Change in order to conduct a 10-for-1 forward split of its issued and outstanding Common Stock. This brought the total authorized shares of NTGL to 450 million and the total issued shares to 181 million, which still holds true today.
I believe the 10-for-1 forward split must apply to all shares, including the 15 million NTGL shares earmarked for NTEK investors as of Feb 6, 2015. This means the total amount of NTGL shares distributed to NTEK shareholders as of Feb 6th should be 150 million shares.
If you divide the number of NTEK shares you owned on Feb 6th by 724.8 million and multiply that by 150 million, you should come up with the amount of shares of NTGL you should receive. (This works out to be about 20.7%.)
For example, if you had 100,000 shares of NTEK on Feb 6th, here's how you would determine your NTGL shares:
100,000 (number of NTEK shares you owned on Feb. 6, 2015) / 724.8 million (NTEK's issued shares) x 150 million (NTGL's issued shares earmarked for NTEK shareholders).
Based on the formula above, you would have 20,693 shares of NTGL.
This is my understanding of things. I could be very wrong, but not for the reason you stated.
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