This is a new era for NCGC as I strive for more transparency as we move forward. First, I had some housekeeping/cleaning issues I had to address, which lead to the eventual resignation of 4 NGCG employees. Im currently engaged in interviewing competent replacements as I believe that a solid team is the key to success of any corporate development. I am a firm believer in keeping administrate expenses in check so as to run a lean and efficient company.
The Joshua Manangement Group and Andrew Coldicutt have been dismissed and I am in the process of interviewing new legal and accounting support for the company. As I have previously mentioned, this is my first endeavour with a publicly traded company, and as such the current representation I work with is lacking the specific designation required to advise and council such a company I am confident that we will soon engage the proper accounting firms and Law firms which best fit NGCG's needs.
I wanted to explain a few items in the financials for further clarification.First and foremost, I have been working with the transfer agent to get an exact count of the Outstanding shares. In analyzing the Shareholder (NOBO), Transfer list and control sheet I noticed the following . There was a question about the 232,000$ loan and where the funds ended up. They were addressed on the Cash Flow statement. Each of the $200,000 and $32,000 were non toxic and therefore weren't floor less Convertible notes. There was also a Question about Lorne Kalisky and the number of shares he controlled and why he wasn't listed as a beneficial owner. After careful review of the NOBO list there weren't any blocks of shares in his name. This was the individual who introduced me to the company and while we do have a business relationship, I am not privy or interested in his personal financial situation. Furthermore there was an issuance of 400 million shares on 01/21/2015 and on 10/04/2014 and a subsequent Reverse Split 1:1000 where the outstanding shares became 1,608,756 shares. It appears that the 400 million shares were issued to Calvin Ross, Phil Longoria and Mike Berio, for a total of 352,230,000. From 01/20/2016 through 07/14/2016 there have been 306,500,000 shares cancelled. While I still have further analysis of the NOBO lists, I will keep the shareholders updated with any further details as I find them.
As mentioned earlier, we are working on an agreement with a Lithium mining company. We are anxiously awaiting news from them pending review from their lawyers.