RE:RE:RE:RE:Wow! What now!Skyman wrote: You still have the same number of shares under the new name. More shares have been issued to acquire a new social media company. The details are on sedar. The most recent financing in August was at 5 cents, so no one with knowledge will sell for less than that on Monday. Here is a partial quote:
"On August 16, 2019, CannCentral completed a private placement of 40,150,000 units (each a “$0.05 Unit”) at a price of $0.05 per unit, with each $0.05 Unit consisting of one Class C common share of CannCentral and one warrant to acquire a further Class C common share of CannCentral at $0.30 per share, for gross proceeds of $2,007,500
.
Effective October 23, 2019, IEQ disposed of all of its assets including all of its subsidiaries.
Following the completion of the Amalgamation, there are an aggregate of 308,115,278 Common Shares issued and outstanding with former shareholders of CannCentral holding 270,150,000 Common Shares, representing approximately 87.7% of the Common Shares and the original shareholders of the Issuer holding 37,965,278 Common Shares, representing approximately 12.3% of the outstanding Common Shares."
Any thoughts on why none of that was issued through a news release in the IntellaEquity/IEQ name and symbol? Or possibly it was and I just missed it.
From the MD&A issued August 29, 2019: The interim consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Fiber Optic Systems Technology (Canada), Inc., PinPoint FOX-TEK Inc., Marcon International Inc., Marcon International (USA) Inc., Marcon International (UK) Ltd. and its 82% owned subsidiary Sensor Technologies Corp. and Paragon Blockchain Inc. (collectively referred to as the “Company” or “Intella”). The disposal of Marcon International (USA) Inc., Fiber Optic Systems Technology (Canada), Inc., and PinPoint FOX-TEK Inc. have been recognized in these financial statements as described in note 5.
The Company sold 51% of shares of Marcon (USA) to a third party, GRX Industries Inc. (“GRX”), a Delaware corporation on January 31, 2019.
The Company considers Marcon (USA) an associate since January 31,019 and has recognised Marcon (USA) as an investment at cost adjusted for Intella’s share of Marcon (USA)’s income since then. There has been no further revenue from Marcon since sale of Marcon (USA) Inc.
Subsequent to the sale of Marcon (USA), IntellaEquity has re-positioned itself as a diversified investment and venture capital firm focused on providing investors with long-term capital growth by investing in a portfolio of undervalued companies and assets. The investment portfolio may comprise securities of both public and private issuers primarily in technology, artificial intelligence, blockchain and may also include investments in certain other sectors, including water, green energy, and alternative energy. Target investments shall encompass companies at all stages of development, including pre-initial public offering and/or early-stage companies requiring start-up or development capital, as well as intermediate and senior companies.
In the 4th quarter of 2018, STI(SENS) was awarded six contracts, two of which are for a complete leak detection system to monitor infrastructure for one of North America's largest pipeline companies and the third contract for phase two (phase one proof-of-concept application was completed in 2017) in the nuclear space using its high precision fiber bragg grating (FBG) acquisition equipment to measure very small changes in strain in injector ports. The value of the six contracts is $194K. STI has completed one of the leak detection projects in quarter 1 of 2019 and the other in the second quarter. STI has also renewed its monitoring and service contract with one of its customers for the fiscal year 2019 worth upwards of $270K. STI was also awarded a contract by one of North America's largest pipeline companies to convert 4 of their monitoring system presently running on a platform designed by one of STI’s competitors into STI’s EFM systems and for data monitoring services. The contract is for a period of 5 years starting January 2019 and is valued at about $117K annually. STI expects to be awarded a contract for another conversion in 2019 valued at $29K a year for a five year period. In the meantime, Sensor Technologies Corporation (“STC”), through its wholly owned subsidiary, Primary Petroleum Company USA, Inc., is still actively working with American Geophysical Corporation ("AGC") to market the Company's 3D Seismic. So far, numerous parties have approached AGC regarding Primary Petroleum’s seismic database and AGC is reaching out to various parties that are interested in the Company's 3D Seismic. The Company’s goal is to license its 3D Seismic leading to future opportunities for potential joint ventures, partnerships or farm-in agreements.
SUBSEQUENT EVENTS:
(a) Subsequent to June 30, 2019, the Corporation has entered into a definitive amalgamation agreement (the “Amalgamation Agreement”) with CannCentral Inc. (“CannCentral”), a corporation existing under the laws of the Province of Ontario.
The agreement outlines the general terms and conditions pursuant to which IntellaEquity and CannCentral would be willing to complete a transaction that will result in a reverse take-over of the Corporation by the shareholders of CannCentral (the “Transaction”). Pursuant to the terms of the Amalgamation Agreement, IntellaEquity, CannCentral and Paragon Blockchain Inc. (“SubCo”), a wholly owned subsidiary of the Corporation will complete a business combination by way of a three-cornered amalgamation under the Business Corporations Act(Ontario).
Under the terms of the Amalgamation Agreement CannCentral will amalgamate with SubCo and will carry on the existing business of CannCentral as a wholly owned operating subsidiary of IntellaEquity. The Amalgamation Agreement was negotiated at arm’s length and is effective as of July 26, 2019.
b) Subsequent to June 30, 2019, STC (SENS) has entered into a non-binding letter of intent (the "LOI") with GreenInsightz Limited ("GreenInsightz"), an arm's length party to acquire all of the issued and outstanding securities of GreenInsightz for an aggregate purchase price of $7,500K that will be satisfied through the issuance of common shares of STC. The closing of the proposed acquisition is subject to, among other things, the successful completion of the Company’s due diligence review of GreenInsightz and the execution of a definitive share exchange agreement between the Company and the shareholders of GreenInsightz and subject to all regulatory requirements and shareholder approval. GreenInsightz uses patented artificial intelligence and machine learning solutions for social discovery in the cannabis industry. GreenInsightz offers its clients analysis and solutions for audience discovery, brand reputation, marketing and communications on the basis of data drawn from social media that is analyzed with advanced proprietary techniques. In addition to social media discovery, GreenInsightz is a powerful tool for collecting, analyzing and reporting on all sorts of structured and unstructured data making it an ideal solution for growers collecting information from sensors, IOT analysis and patient data analysis.
In all of this and looking at the SENS MD&A as well I get confused with the SENS references -- it is referred to as Sensor Technologies Corp. which relates to STC but they seem to bounce back and forth in the documents with STC and STI (Sensor Technologies Inc.). Just enough to make me wonder if there are two different entities or what. Sometimes they use both in the same paragraph -- is that just sloppy typing or ??
Also with some apparent growth in the former Fox-Tek oil & gas entity why are they buying up a marijuana related company other than the fact they have some aspect of sensor tech?