$NGTF 8K filing showing that the company's CEO and
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Posted On: 01/22/2020 6:06:28 PM
$NGTF 8K filing showing that the company's CEO and largest shareholder Sean Folkson has just entered into a share "Lock Up" agreement for 12 months.
Link:
http://archive.fast-edgar.com//20200121/AK2Z3...HZ222EQ22/
Clearly, Mr. Folkson has an expectation of significant long term value appreciation for NGTF and he has every reason in the world to make that happen.
From the filing:
On January 20, 2020, the Registrant entered into a “Lock Up” Agreement with its largest shareholder, Sean Folkson.
Owner of 16,753,568 shares which will take effect on February 4, 2020 and serve as an extension of the current Lock Up Agreement currently in place between the parties, which runs through February 4, 2020.
Folkson has agreed to not transfer, sell, or otherwise dispose of any shares of his NGTF stock during the next twelve months unless doing so will provide direct benefit to the Company.
As part of this agreement, Folkson received warrants to acquire 400,000 shares of NGTF common stock at an exercise price of $.30 per share. All warrants carry a twelve month term and a cashless provision, and will expire if not exercised within the twelve month term.
Link:
http://archive.fast-edgar.com//20200121/AK2Z3...HZ222EQ22/
Clearly, Mr. Folkson has an expectation of significant long term value appreciation for NGTF and he has every reason in the world to make that happen.
From the filing:
On January 20, 2020, the Registrant entered into a “Lock Up” Agreement with its largest shareholder, Sean Folkson.
Owner of 16,753,568 shares which will take effect on February 4, 2020 and serve as an extension of the current Lock Up Agreement currently in place between the parties, which runs through February 4, 2020.
Folkson has agreed to not transfer, sell, or otherwise dispose of any shares of his NGTF stock during the next twelve months unless doing so will provide direct benefit to the Company.
As part of this agreement, Folkson received warrants to acquire 400,000 shares of NGTF common stock at an exercise price of $.30 per share. All warrants carry a twelve month term and a cashless provision, and will expire if not exercised within the twelve month term.
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