More possible fraud evidence. According to the
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Posted On: 11/12/2022 6:02:15 PM
More possible fraud evidence.
According to the objection filing, the total compensation value for the “Four (fill in your own expletive)”:
“NOTE: $0.081 based upon a 409A Valuation.”
NGIO 409A Valuation = $0.081 pps
Total Compensation: 27,687,658 NGIO shares
Dollar Worth: 27,687,658 x .081 = $2,242,700.30
All GNBT owned NGIO shares: 64,153,151 x .081 = $5,196,405.24
Total NGIO shares: 100,300,000 x .081 = $8,124,300
https://www.otcmarkets.com/stock/NUGX/security
The compensation award document was signed and dated on Oct 23, 2020
A 409A valuation is an appraisal of the fair market value (FMV) of the common stock of a private company by an independent third party. https://learn.angellist.com/articles/409a-val...on%20stock.
Question: Who was the Third Party Evaluator???
HOWEVER
On June 22, 2021 NGIO was/had a valuation of $535,000,000
https://www.globenewswire.com/en/news-release...l-Firm.htm
Is this the same firm previously used or a different one?
With the new valuation, the Four Expletives compensation went from
$2,242,700.30 to $147,685,967.77 in just eight (
months!!!
($535,000,000 / 100,300,000 shares = $5.334 pps x 27,687,658 NGIO shares)
AND
The NGIO IPO was set at a $8.50 - $9.50 pps https://www.nasdaq.com/market-activity/ipos/o...2190-94016
Making the Four Expletives compensation at $235,345,093 - $263,032,751
Questions:
How can/could Joe officially in an SEC legal document proclaim that Generex owned 64,153,151 NGIO shares if 27,687,658 shares were given away as compensation?
“On February 2, 2021, NGIO issued 100,000 shares of the Company’s Series A Super Voting Preferred Stock (the “Super Voting Preferred Stock”) to Generex in exchange for 300,000,000 shares of the Company’s common stock, which were immediately cancelled upon such exchange. As of April 30, 2021, NGIO had 100,300,000 shares of common stock outstanding of which Generex owns 64,153,151 shares.” https://www.sec.gov/Archives/edgar/data/10597...orm10q.htm
Why were the obligatory legal SEC Form 3/4/5 never filed for the NGIO major insider ownership of:
Terry Thompson: 10,862,504 shares
Richard Purcell: 5,604,259 shares
Anthony Crisci: 7,869,104 shares
Jason Terrell, MD: 3,351,791 shares
The Generex Bankruptcy Trustee needs to get the SEC involved to sort this legal and possible criminal mess out.
According to the objection filing, the total compensation value for the “Four (fill in your own expletive)”:
“NOTE: $0.081 based upon a 409A Valuation.”
NGIO 409A Valuation = $0.081 pps
Total Compensation: 27,687,658 NGIO shares
Dollar Worth: 27,687,658 x .081 = $2,242,700.30
All GNBT owned NGIO shares: 64,153,151 x .081 = $5,196,405.24
Total NGIO shares: 100,300,000 x .081 = $8,124,300
https://www.otcmarkets.com/stock/NUGX/security
The compensation award document was signed and dated on Oct 23, 2020
A 409A valuation is an appraisal of the fair market value (FMV) of the common stock of a private company by an independent third party. https://learn.angellist.com/articles/409a-val...on%20stock.
Question: Who was the Third Party Evaluator???
HOWEVER
On June 22, 2021 NGIO was/had a valuation of $535,000,000
https://www.globenewswire.com/en/news-release...l-Firm.htm
Is this the same firm previously used or a different one?
With the new valuation, the Four Expletives compensation went from
$2,242,700.30 to $147,685,967.77 in just eight (
months!!! ($535,000,000 / 100,300,000 shares = $5.334 pps x 27,687,658 NGIO shares)
AND
The NGIO IPO was set at a $8.50 - $9.50 pps https://www.nasdaq.com/market-activity/ipos/o...2190-94016
Making the Four Expletives compensation at $235,345,093 - $263,032,751
Questions:
How can/could Joe officially in an SEC legal document proclaim that Generex owned 64,153,151 NGIO shares if 27,687,658 shares were given away as compensation?
“On February 2, 2021, NGIO issued 100,000 shares of the Company’s Series A Super Voting Preferred Stock (the “Super Voting Preferred Stock”) to Generex in exchange for 300,000,000 shares of the Company’s common stock, which were immediately cancelled upon such exchange. As of April 30, 2021, NGIO had 100,300,000 shares of common stock outstanding of which Generex owns 64,153,151 shares.” https://www.sec.gov/Archives/edgar/data/10597...orm10q.htm
Why were the obligatory legal SEC Form 3/4/5 never filed for the NGIO major insider ownership of:
Terry Thompson: 10,862,504 shares
Richard Purcell: 5,604,259 shares
Anthony Crisci: 7,869,104 shares
Jason Terrell, MD: 3,351,791 shares
The Generex Bankruptcy Trustee needs to get the SEC involved to sort this legal and possible criminal mess out.
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