Gnarlyman
1 week ago
I wanted to be the first to admit I was wrong about the companies plan to convert the 1M preferred shares. The idea seemed absurd to me, because why would they destroy a superb share structure. They clearly donโt care about that piece initially.
This is a real bummer IMO from page 18.
Distribution of CognoGroup, Inc. Shares
In connection with this spin-out, all shares held by Recruiter.com Group, Inc. in CognoGroup, Inc. will be distributed to its shareholders. Recruiter.com Group, Inc. currently holds 1,000,000 preferred shares in CognoGroup, Inc., which are convertible on a 1,000-for-one basis, resulting in a total of one billion shares. The Company plans to convert up to one billion of these shares and distribute them entirely to its shareholders. The final distribution count will be determined at the discretion of management but shall comprise the entirety of the shares held by Recruiter.com Group, Inc.
https://www.otcmarkets.com/filing/html?id=17684335&guid=IDO-kePo6PoFJth