SGNI Stock, Stemgen Inc Information

StemGen, Inc the Company was incorporated in Delaware in , and in received all remaining assets of Infotechnology, Inc. Infotech , a Delaware company, following the completion of Infotech s Chapter Bankruptcy reorganization, in accordance with an Assignment and Assumption Agreement, dated October , , and effective as of June , . As a result of a series of transactions during the s, Infotech, then principally engaged in the information and communications business, acquired equity interests in Comtex News Network, Inc. Comtex and Analex Corporation Analex , formerly known as Hadron, Inc. Our business was the maintenance of our equity interest in and note receivable from Comtex and equity interest in Analex. On September , , we exchanged the equity investment in Comtex common stock and the Note Receivable from Comtex of , , for , shares of the StemGen Series A Preferred stock. We no longer have an equity interest in either the common stock of Comtex or the Note from Comtex. During October , we sold the remaining , shares of common stock of publicly held Analex, a defense contractor specializing in systems engineering and developing innovative technical intelligence solutions in support of U.S. national security. We no longer have an equity interest in Analex. On December , , the Corporation received a nonrefundable deposit of , under a Letter of Intent LOI which it entered into on December , with StemGen Inc. a Nevada corporation. Effective February , , the Company amended its Certificate of Incorporation. As a result of the Amendment, the Company s corporate name changed from Amasys Corporation to StemGen, Inc. and a reverse stock split was effectuated where all the outstanding shares of the Company s common stock were exchanged at a ratio of one for eighty. The LOI was terminated on August , . StemGen is a business accelerator. It is in the business of investing in private companies and assisting those companies to execute their business plans. The Company searches for targets that have a market ready product or process that requires additional assistance to move ahead and be a dominant player in their market. The targets must have a unique product or service that has the ability to disrupt or change the market in which they operate. On May , , we purchased of the membership interests in Global Visionary Investments LLC, a business advisory services company, Global Visionary as a means to facilitate the process of driving possible target leads and vetting potential investments in those targets. We purchased Global Visionary for cash payments of , and the issuance of a convertible note for , . As of June , , we had paid , of the , . The remaining , was paid after the close of the fiscal year. The convertible note matures on May , and bears interest at per year. The note is convertible into shares of our common stock at of the volume weighted average closing price of the Company s common stock for the five trading days prior to the notice of intent to convert. In no event shall the conversion rate be lower than . per share. Global Visionary has a limited exclusive license with SOKAP, a Canadian corporation. SOKAP provides business intelligence in deal sourcing and target vetting. Through their proprietary geo targeting software platform, the acquisition targets have the opportunity to market their products and services in a unique way through licensing specific territories for the sale of their products or services. This creates a unique sales channel opportunity that does not currently have any competitors. We believe that the acquisition of Global Visionary represents a beneficial opportunity to diversify and expand our business platform to attract a larger audience of potential investment targets.