Apr. 14 at 5:40 PM
$CGNO
Here goes: based on the annual report we know they cancelled 663,209 preferred shares. Leaving 336,791 remaining. And in section 6 it says Miles and Evan will receive 126,314 preferred shares each for a total of 252,628. This only leaves 84,163 preferred to distribute to Nixxy shareholders. Tracking with available PR releases of 84,164 Preferred.
Here is the math, (remember they stated only 25% of shareholders will receive the distribution since they stated 75% declined. So let’s estimate they have around 28M NIXX shares, since the add of 2M for LeadNova buy and 1M to private investors since last filing stating about 25M.
Guess
$CGNO target OS after Distribution= 100M
So 100,000,000 - 84,255,157 = 15,744,843 Distro to hit 100M even.
28M / 4 =7M shares eligible for Distro. (25%)
84,163,000 - 15,744,843 = 68,418,157
15,744,843 / 7,000,000 =2.249
This result would only add 15-17M to the current O/S with a target of 100M flat!
Just a hunch!
GLTA