Mygo Games Holding Company (NASDAQOTH:MYGG)

CAPS Rating: 1 out of 5


Player Avatar Mega (99.97) Submitted: 10/29/2011 5:12:32 PM : Underperform Start Price: $1.10 MYGG Score: +92.19

"On June 14, 2011, Obscene Jeans Corp. ("OBJE") signed a Purchase Agreement (the "Purchase Agreement) with Beijing Beautyfresh International Trade Company, a Chinese company registered and operated under the laws of the People's Republic of China ("Beautyfresh"). Under the terms of the Purchase Agreement, OBJE has agreed to purchase all assets of Beautyfresh for the purchase price of $25,000 cash.

On October 14, 2011, the Company terminated the Purchase Agreement with Beautyfresh, based on the inability of the Company to obtain accurate and timely financial statements detailing the results of Beautyfresh's operations prior to the signing of the Purchase Agreement. OBJE has also terminated the Global Strategic Profit Alliance Agreement which was signed on April 26, 2011. OBJE no longer has any affiliation with Beautyfresh.

OBJE had previously paid the full purchase price to acquire Beautyfresh. The Company does not anticipate being able to recover those funds."

Member Avatar Mega (99.97) Submitted: 10/29/2011 5:19:20 PM
Recs: 0

Negative equity, constantly issuing absurd press releases, and stupid enough to get scammed by a Chinese fraud for 1/3rd of their remaining cash. Target price: $0.

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