NuGene Inc. acquired Bling Marketing, Inc. in a reverse merger transaction.
January 06, 2015 at 05:00 am
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NuGene Inc. entered into an agreement to acquire Bling Marketing, Inc. in a reverse merger transaction on December 26, 2014. As consideration, Bling Marketing will issue 26.05 million shares 1.92 million shares of Series A preferred stock. The shares issued are subject to lock-up agreements extending over 18 months. As a result of the merger, the shareholders of NuGene will own 66.47% of the outstanding common stock of the surviving entity. Two of NuGene's shareholders who own 100% of the series a preferred stock are empowered to elect a majority of the Board of Directors of the surviving entity. The surviving entity will seek approval to change its name to NuGene International, Inc. The deal will terminate, if the closing is not occurred by December 31, 2014.
Dena Kurland, the Chief Executive Officer and Director of Bling Marketing, submitted her resignation as a Director Ali Kharazmi and M. Saeed Kharazmi, the founders and principal shareholders of NuGene, were appointed to our Board of Directors. Ali Kharazmi was appointed as Chief Executive Officer of the surviving entity. The deal is subject to shareholder approval of NuGene and Bling Marketing, cash or cash equivalents of not less than $1 million in the combined accounts of NuGene and Bling Marketing and resignation of Directors of Bling Marketing.
NuGene Inc. completed the acquisition of Bling Marketing, Inc. in a reverse merger transaction on December 29, 2014.
Livento Group, Inc. is engaged in specializing in the acquisition and development of companies with disruptive business models in the film, content, and technology sectors. The Company operates through its subsidiary, BOXO Productions Inc., a film and television production company, which produces and funds content across a range of genres. The Company operates through two divisions: BOXO Productions, which is engaged in captivating movie production, and Robotics & AI, which is establishing advancements in artificial intelligence. It has developed a software called Elisee that can capture large amounts of data and create predictive behavior based on client inputs that assists the client in establishing its investment portfolio. Elisee uses algorithms that read market data and neurological network abilities to determine the path forward and make ongoing corrections over time.