NEWGEN BIOPHARMA CORP. (OTCMKTS:NEWG) Files An 8-K Changes in Control of Registrant
Item 5.01 Changes in Control of Registrant.
On January 30, 2017, two of the stockholders of NewGen BioPharma
Corp., a Nevada corporation (the Company), sold, assigned and
transferred an aggregate of 36,000,000 shares of the Companys
common stock to Jerwin Alfiler, resulting in a change in control
of the Company. Tadhg Sammon sold and transferred 16,000,000
shares of common stock to Mr. Alfiler, and James Sammon sold and
transferred 20,000,000 shares of common stock to Mr. Alfiler. The
amount of consideration paid for the transferred shares was
$20,000, and the funds used to acquire the shares were personal
funds. As a result of the transfer, Mr. Alfiler, who is the sole
executive officer of the Company and a member of the Companys
Board of Directors, became the majority stockholder of our
Company and beneficial owner of approximately 75.63% of our
issued and outstanding common stock.
There are no arrangements or understandings among the members of
the former and new control groups and their associates with
respect to the election of directors and other matters. Other
than the closing of the merger transaction described in our
Current Report on Form 8-K, as filed with the Securities and
Exchange Commission on January 11, 2017, the Company is not aware
of any arrangements which may at a subsequent date result in a
change in control of the Company.
In connection with and as a condition to the closing of the
merger transaction, the shares of common stock transferred to the
transactions described above will be surrendered by Mr. Alfiler
for cancellation. Any future changes in control of the Company
resulting from the merger transaction will be disclosed in a
subsequent filing upon the closing of the merger transaction.
|
2 |
About NEWGEN BIOPHARMA CORP. (OTCMKTS:NEWG)
NewGen BioPharma Corp., formerly Greenwind NRG Inc., is a development-stage company. The Company intends to operate in the business of off the grid wind power systems for residential, cabin, recreational vehicle (RV), boat and shop use. The Company will provide an opportunity for customers to research and purchase off-the-grid wind turbines capable of producing energy for use in residential homes and elsewhere. Its focus market will be Ireland. It intends to purchase turbines and sell them to retail consumers throughout Ireland and to expand throughout North America. The Company seeks to focus on users seeking an alternative, renewable source of energy for a range of uses. Its products will have a rated wind speed of approximately 20 miles per hour. Its over two larger turbines will have the ability to generate approximately five kilowatts per hour. The Company intends to generate revenues by selling and offering installation and maintenance services of off-the-grid wind turbines. NEWGEN BIOPHARMA CORP. (OTCMKTS:NEWG) Recent Trading Information
NEWGEN BIOPHARMA CORP. (OTCMKTS:NEWG) closed its last trading session up +0.07 at 1.92 with 500 shares trading hands.
