PowerTap Hydrogen Capital Corp MOTNF

Slimy Stuff

[DanielDarden123]

Furthermore, the Company announces that it entered into a definitive agreement on May 24, 2020, (the “Agreement”) to acquire all of the issued and outstanding shares of privately-held Bendu Capital Limited (“Bendu”) a non-arm’s length party to the Company, to be effected by way of a three-cornered amalgamation between Organic Flower, Bendu and a wholly-owned subsidiary of Organic Flower (the “Transaction”). The Transaction is valued at 75,850,000 pre-Consolidation Shares of Organic Flower, giving the Transaction an approximate dollar value of $3,034,000 as of the Company’s closing price on May 22, 2020. (From press release)

My take: An insider gets to unload a liability (likely) and gets free shares in exchange. The directors are usually not truly independent so their approval is meaningless. Notice that no information regarding Bendu is provided. Not even some hype! 

[curious14]

What's your beef? SELL or BUY,  your choice. c14

[CAinPlap]

What's DD123's beef? Likely same as mine in that I have more trust in Wuhan stew than i do this mgmt group. My main beef is with the Eugene Beukman who was the listed contact for the company when the "deal" was announced who swore up and down about how good the deal was and that we would get the 1.15 Agra for each SOW share. When asked to email me confirmation, he disappeared and