I know Joe and was on the phone with him Friday late afternoon. I mentioned I bought shares to get the NGIO dividend. He did not correct me or clarify that I would not get the NGIO shares. I believe that he did not know and now they are trying to cover up by saying that is how it always works on spin offs of private companies. BS
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Disclaimer: Of course, all of this is my opinion and you should not make any investment decisions based on my opinion. I have not received any non-public information.