x min read

BPS initiates coverage on Genufood Energy Enzymes Corp (OTCMKTS:GFOO)

BPS initiates coverage on Genufood Energy Enzymes Corp (OTCMKTS:GFOO)
Written by
Aaron Smith
Published on
October 29, 2014
Copy URL
Share on LinkedIn
Share on Reddit
Share on Twitter/X
Share on Facebook

On 24th October’14, BrilliantPennyStocks.com initiated coverage on GFOO. The stock declined by 118.18% since the coverage was initiated.

Genufood Energy Enzymes Corp (OTCMKTS:GFOO) announced in late September that it had accomplished a share exchange program with Natfresh Beverages Corp. The deal involved Genufood exchanging its shares in lieu of 100% of the shares issued by Natfresh.

Deal Funded Via Shares Swap

Both the firms indicated that their respective shareholders have approved the exchange by a majority vote. In order to complete the transaction, Genufood Energy Enzymes Corp (OTCMKTS:GFOO) issued shares of its common stock to Natfresh Beverages Corp. The share exchange occurred at a face value of 1:1 ratio. A total of 1,156,460,641 shares of common stock issued by Genufood has hence been transferred to shareholders of Natfresh.

Natfresh – To Be Fully Owned Unit Of Genufood

The immediate result of the completion of the share exchange program is that Natfresh ceasing to exist as an independent trading company. It will going forward operate as a fully owned business unit/subsidiary of Genufood Energy Enzymes Corp (OTCMKTS:GFOO). All the assets and liabilities of Natfresh would now be passed on to the books of the acquirer.

Natfresh – Flush With Cash

As per the latest audited financial statements of Natfresh for period June 2013 to August 2014 has appraised total assets of $989,857. The breakup of assets and liabilities is as follows. Cash at hand is $785,312 and liabilities of $190,445. Investment equity adds up to $799,412.

Access Finance and Securities Takes $100000 Stake In Genufood

In an unrelated development, Genufood Energy Enzymes Corp (OTCMKTS:GFOO) reported that which is a independent company controlled by Genufood President has subscribed to a private placement of shares worth $100000 issued by Genufood. The shares have been priced at $0.0025 per share. Hence the ownership of a total of 40 million shares was transferred to Access Finance and Securities as part of this transaction.

Signup now to receive the next BPS alert by clicking HERE

About BrilliantPennyStocks

BSP provides sponsored and non-sponsored small cap and micro cap stock research reports, articles, daily stock market blogs, and popular investment newsletters. BPS provides alerts to investors and traders on stocks that could potentially breakout. To obtain text message stock alerts service, text the word Avauncer to 95577 from your cell phone. Additionally, BPS provides market insight, tips, and trading strategies on NYSE, NASDAQ, OTCBB and PINK stocks.

Disclosure: BrilliantPennyStocks is not a registered investment adviser and nothing contained in any materials should be construed as a recommendation to buy or sell securities. Investors should always conduct their own due diligence with any potential investment. Always seek help from a professional financial advisor (I am not one). Please visit http://brilliantpennystocks.com/disclaimer/ for complete risks and disclosures.

Discover Hidden Gems

Don't miss the next big opportunity. Subscribe for timely alerts on potential market movers.