EX-99.1 2 gl012_ex99-1.htm EXHIBIT 99.1

 

Exhibit 99.1


[Miles Jennings]

 

Good afternoon, everyone.

 

Hope you're all doing well and thank

 

you so much for joining our presentation.

 

Today, we're going to have a shareholder

 

update call between Recruiter.com Group Inc.

 

And GoLogiq regarding

 

our recently announced transaction.

 

Thank you again for your interest in our

 

company and we're very excited to highlight the

 

transaction and discuss our business going forward.

 

To give you some opening remarks, I'm now going to turn it over to Evan Sohn, who is chairman of Recruiter.com Group Inc.

 

RCRT.

 

[Evan Sohn]

 

Thank you so much, Miles.

 

And thank you to everyone who's

 

joining us on this call today.

 

Really appreciate you taking out the

 

time to learn more about Recruiter.com

 

RCRT and our transaction with GoLogiq.

 

A little bit of a disclaimer

 

just so everyone could see.

 

Please consult our 10K, our filings, our 8K filings for our financials from 2022, as well

 

as various risks associated with the business.

 

And obviously use your best judgment and

 

do your own market research accordingly.

 

 

Just to give you a little bit of the

 

agenda for today, I'm going to give some opening

 

remarks and then review the proposed transaction.

 

I will then introduce everyone to

 

Brett Suen, the CEO of Gologiq.

 

He'll present the GoLogiq assets, their business,

 

their strategy, as well as their management team.

 

We'll then reintroduce Miles Jennings.

 

So thank you, Miles, who'll be presenting the CognoGroup

 

spin out, which is the spin out from RCRT.

 

And then we'll talk about some

 

overall next steps for shareholders.

 

So the last two years of market turmoil have

 

really prompted a shift in my overall and our

 

overall understanding of evaluations of corporate valuations.

 

I think previously the market rewarded eternalized growth, and

 

as we as RCRT grew from 5 million in

 

2020 to over 25 million in 22, however, the

 

market sentiment really changed and the focus went from

 

revenue value to really cash value.

 

And as a result, we determined back in

 

November of 22 that one of our greatest

 

assets really is our Nasdaq public listing.

 

And to really unlock that value for the RCRT

 

shareholders, we embarked in conjunction with Joseph Gunner, our

 

investment banking firm, on a process to look at

 

doing a transaction involving our Nasdaq public listing.

 

 

Joseph Gunner brought us over 20 potential reverse

 

candidates or potential candidates and did a lot

 

of meetings, a lot of diligence around them.

 

And our search criteria really included a management

 

team ready for Nasdaq, a company driving significant

 

revenue with room for even more significant growth,

 

and an industry that's really exciting.

 

And I was thrilled to really be introduced to Brent

 

and the overall team at Gologiq, just to give a

 

little bit of understanding of the actual transaction itself.

 

The proposed transaction that we announced on June 6,

 

again, these are all filed with public filings.

 

In general, you can see those on

 

our 8k and our press releases.

 

The June 6 transaction really included that RCRT

 

would acquire various assets of GoLogiq and

 

those assets would be including e wallets and

 

mobile payment and other things that Brent's really

 

going to talk about from an asset perspective.

 

In consideration, GoLogiq would receive of RCRT

 

shares equal to 84% of RCRT, with the

 

existing RCRT shareholders maintaining approximately 16%.

 

So 84% for the GoLogiq shareholders, 16%

 

for the RCRT shareholders, the current RCRT shareholders.

 

The agreement valued the combined companies at approximately

 

$105,000,000, which is substantially above the current market

 

capitalization of RCRT, which is currently around, let's

 

 

say, four and a half million-dollar market

 

capitalization, with 16% of that valuing the business

 

at around $17 million.

 

So that really is the proposed transaction,

 

which will also include a spin out.

 

And we'll talk about the spin

 

out in just a few moments.

 

But we really want to bring some more attention to

 

really who is GoLogiq, who is their management team, and

 

why we at RCRT were so excited to really invest

 

our Nasdaq listing in this company and in these people.

 

So I'd like to introduce everyone

 

now to sorry about that.

 

I'd like to everyone now, it's my

 

privilege to introduce Brent Suen, the interim

 

Chief Executive Officer and Chairman of GoLogiq.

 

Brent has 31 years of experience in the capital

 

markets investment banking industry and was the youngest hire

 

of Bear Stearns merger Arbitrage department in 1987.

 

He also has significant experience in telecom, media and

 

technology, both as an advisor and as an investor.

 

He's got significant operational experience both startup and

 

expansion stage with companies in Silicon Valley during

 

the 1990s, emerging markets experience in Asia, Eastern

 

Europe and Latin America, and more recently, mobile

 

and fintech companies in Southeast Asia.

 

And it's my privilege now to turn the

 

 

microphone and the stage over to Brent.

 

So Brent, take it away.

 

[Brent Suen]

 

Wonderful.

 

Thank you, Evan, and good afternoon to everyone

 

and thank you for having us here today.

 

As Evan mentioned, my name is Brent Suen.

 

I am the interim CEO of GoLogiq.

 

I'm going to overview the businesses that are coming into

 

RCRT and then briefly introduce a few of our team.

 

I'm not going to read the slides to you all.

 

I know you're capable of that.

 

I will speak around them instead and attempt

 

to highlight the best parts of them.

 

So with that, Miles, would you mind

 

going to the next slide, please? Thank you.

 

So we have taken a three phase

 

strategy to going forward with RCRT.

 

All three of these phases are either in place

 

or underway now, so there's nothing that's greenfield or

 

unexplored and so we are not a startup.

 

I will elaborate on each one of

 

these three in the coming slides.

 

I will also note that on some things

 

we are deliberately general and a bit vague.

 

The reason why is because there are certain

 

trade secrets and practices that have just evolved

 

 

recently and there is little to no competition

 

in terms of what we're doing specifically.

 

So we do not identify it in specifics, there is

 

only one company that we know of that is publicly

 

traded that is utilizing the same strategy and approach.

 

And their third year of business, they did 1.2 billion.

 

Most of that has come recently because of the

 

advent of something that is quite well known and

 

talked about, although I believe that it is for

 

many more of a buzzword or a trend.

 

I'll go into that shortly.

 

Phase one we call Project X.

 

Phase two are the acquisitions that we have lined up.

 

These are specifically of fintech based companies.

 

And then phase three, which for the past eight

 

years we've just called it Deep learning, but I

 

believe others call it AI or Machine Learning.

 

I will go on to phase one on the next slide.

 

Thanks, Miles.

 

We call this Project X because we've gone

 

through 25 evolutions on the way here.

 

We began nine years ago, and so this is not new.

 

We've had several successes and numerous failures and

 

treated the entire history as a learning experience

 

along the way to a big win.

 

We believe we're there right now.

 

However, in 2021, after COVID, we decided

 

 

to take a very dramatic approach and

 

we actually contemplated closing down the business.

 

However, we continued a few more trial

 

runs right at the same time that

 

we decided to shutter the core business.

 

Our tech team came to me and my COO and said

 

we've actually just had a massive breakthrough that was, believe it

 

or not, in April of this year, right before we were

 

introduced to Miles and Evan and the team at RCRT.

 

So it could not have been more timely.

 

This breakthrough, by the way, generated 3 million

 

in revenues on a pilot program the first

 

month out with our partner, and this evidence

 

points us towards a $70 million year, one

 

run rate and profitability within three months.

 

So coming in as we are into RCRT right

 

now on the heels of this breakthrough, we think

 

is extremely timely and extremely compelling to you all

 

as shareholders of RCRT and subsequently GoLogiq.

 

Phase two, as part of this plan for

 

fintech acquisitions, we plan to grow exponentially.

 

And through this, there are ten acquisitions

 

which we are in later stage with.

 

We are attempting to close three of them at

 

the same time as we go into RCRT.

 

These acquisitions all fit into Project X, into

 

the platform itself, and they also operate as

 

 

standalone businesses that will grow significantly and also

 

have strong gross profit margin profiles.

 

This gives us presence in two of the

 

most compelling emerging market regions in the world.

 

One is Greater Africa.

 

The other is Southeast Asia.

 

Southeast Asia, by the way, our core team and

 

I have been working in myself 14 years, the

 

rest of my team, ten to 20 years.

 

And our incoming Chief Executive Officer, Granger

 

Whitelaw, actually resides in Vietnam and has

 

been working and investing and advising in

 

Southeast Asia for over a decade.

 

Next slide. Thank you.

 

Phase Three is actually something that

 

we've been fairly modest about.

 

Oddly, it's become a huge buzzword and many

 

businesses have launched and many have rebranded themselves

 

and are focusing on the advent of AI

 

and how it's enabled their business.

 

We actually built a platform eight years

 

ago that is the backbone of everything

 

we do in terms of business processes.

 

We just didn't call it AI.

 

It's just a platform that has and does

 

teach itself with input that comes in from

 

either customer interaction or interaction from our team,

 

 

or advertising and marketing campaigns.

 

And surprisingly, the recent popularity of Chat GPT, which

 

is owned by OpenAI, has combined with Radix and

 

what it's enabled us to do is bring down

 

costs significantly by not having to have a broad

 

sales team or a large customer service team and

 

therefore the costs associated with it.

 

Therefore, we're able to scale rapidly and attain

 

very high revenue growth and a higher gross

 

profit margin profile without the high cost of

 

teams that scale up alongside.

 

I think we missed a slide there, which was actually

 

the financials yeah, I think that it was right in

 

between the management one and the last one.

 

[Miles Jennings]

 

Brent, I'll come in here.

 

I don't believe that it was in the

 

presentation that we had for this webinar.

 

So perhaps we could include it in an 8K for shareholders

 

because I don't want to do it on the fly. Understood?

 

[Brent Suen]

 

Understood.

 

Well, I can speak to it very quickly

 

so our viewers can at least get an

 

idea of what our revenue ramp looks like.

 

We're anticipating from July of this year until

 

 

December growth that encompasses about 27 million in

 

revenues with profitability in Q Four.

 

That's what is going into RCRT.

 

We believe that we can scale that to close to

 

100 million in revenues next year with profitability both on

 

an EBITDA basis and on a net basis as well.

 

Going a little further ahead, we believe that several

 

years out we can approach the $250,000,000 per year

 

revenue run rate and this will be generated by

 

our core business, as we indicated, Project X and

 

the fintech acquisitions that we're bringing in.

 

Those of you who stay along for the ride,

 

this would imply a very enviable market cap.

 

As Miles just said, we can certainly

 

outline that in an 8K.

 

In subsequent presentations talking about the GoLogiq

 

Management team and our board, I would like

 

to point out that several of our board

 

members and team are on the call now.

 

I actually thought we were going to do

 

a gallery viewing, but nonetheless here's Granger Whitelaw,

 

the former founder of Rocket Racing.

 

He's also worked in investment banking and investing in

 

and advising in emerging markets for over 25 years.

 

We also have Candace Beaumont

 

on our board of directors.

 

She's the chief investment officer of Salsano Group,

 

 

which is a $1.5 billion family office.

 

They were an early investor in some of

 

the more well-known unicorn valued companies that

 

have come out of Silicon Valley and other

 

Silicon Alleys, uber, Airbnb, Palantir and a number

 

of other well-known unicorn valued companies.

 

Candace is a lifelong investor and

 

advisor to a number of them.

 

James Keys, the former global CEO of 711 stores who

 

led the company through their highest growth in history.

 

Jim is on our Board of Advisors and SIM

 

Ferrara, the US Ambassador to the United Nations and

 

a lifelong US government statesman and diplomat, especially since

 

we're doing work in emerging and frontier markets.

 

SIM has joined us as an advisor

 

and is certainly a mentor to me.

 

And of course, Granger is our incoming CEO who will

 

be taking the helm and I will stay on the

 

board and work on MNA and strategic initiatives.

 

In summary, we are extremely excited

 

about the merger with RCRT.

 

We firmly believe that we will execute

 

on growth and profitability, delivering shareholder returns

 

and building the company into a billion

 

dollar enterprise over the years.

 

[Miles Jennings]

 

 

Thank you, Brent.

 

Thank you so much to our shareholders and other

 

audience members interested in learning about this company.

 

I hope you can see and understand

 

our enthusiasm for Brent's business and his business plan.

 

He's going to do great things.

 

And it was a selective process.

 

As Evan mentioned, we had a number of

 

candidates to come into RCRT and we felt

 

that Brent's company was really a good prospect,

 

has very strong potential for market appreciation.

 

So thank you so much, Brent.

 

Thanks, Miles.

 

And now I'm very proud to introduce

 

you to our new company, CognoGroup.

 

Now, CognoGroup is what we call the spin out.

 

In this proposed transaction, we have our

 

existing business, which is being spun out,

 

and we are calling that company Cognogroup.

 

This is the first time that

 

we are publicly announcing this name.

 

We are calling it that in order to both

 

suggest the focus on artificial intelligence, which I'll go

 

into in the coming slides, and also to reflect

 

a multi-brand portfolio versus simply Recruiter.com. I wanted to go

 

over the transaction once again.

 

So GoLogiq or certain assets of GoLogiq

 

 

related to Fintech are coming into RCRT.

 

RCRT is the current Recruiter.com group inc.

 

That is our Nasdaq listed entity.

 

Then we are going to spin out our

 

current assets and liabilities, essentially our current operating

 

business, into a new company, and that is

 

to be called CognoGroup.

 

We plan to have this listed, or I

 

should say quoted on the OTC markets.

 

So again, all of the existing businesses, including

 

Recruiter.com itself as an asset, will be coming

 

into Cognogroup and then GoLogiq assets, including

 

Brent's team and his strategies will be coming

 

into RCRT little bit on our strategic plan.

 

This is really already very much

 

in place and in motion.

 

The first part of our strategy

 

includes a real emphasis on profitability.

 

We started this process.

 

I would say in November of last year, we

 

announced certain reductions in staff and certain divestments.

 

And then this accelerated with our partnership with a

 

company called JobMobz, which is a leading RPO

 

in California, a recruitment process outsourcer and that took

 

a lot of our sales staff in certain operations

 

and put that over to JobMobz and that

 

continued to accelerate toward profitability.

 

 

So this is very much underway.

 

The second part of our strategy is really to look

 

at all of our basket of current assets and ensure

 

that we're monetizing those assets to its fullest potential.

 

Each of the assets, and I'll describe that

 

in the next slide, are revenue producing.

 

But we are also looking, as we announced in a

 

press release, at potentially selling certain of those assets.

 

And we are currently in negotiations

 

with a number of parties.

 

It should be said of course, that the

 

results of those negotiations cannot be guaranteed, but

 

we have announced those negotiations are underway.

 

And then thirdly, and we think this is very

 

important and represents really the future of the company

 

is to really focus on artificial intelligence enabled projects.

 

So this is something that rather like Brent

 

mentioned, Recruiter.com was doing rather advanced AI work

 

throughout 2022 with our candidate sourcing software.

 

But we do not intend to invest heavily

 

in R&D, but instead rather look

 

at smaller projects, rightsized to the scale

 

of our operations, maintaining that focus on profitability.

 

And I'll go over some of our existing

 

assets and we've announced a number of AI

 

related projects already just this year, the current

 

assets and these are really our existing business.

 

 

So our current operating business includes two

 

major brands involved in recruitment and employment.

 

That would be Recruiter.com and Mediabistro.

 

Recruiter.com is an on

 

demand recruiting solutions platform.

 

We provide recruitment and hiring experience

 

to employers looking to hire great

 

talent for their organizations across industries.

 

And then Media Bistro.

 

Media Bistro is focused in the media sector.

 

We're announcing some plans to shift the focus

 

of Media Bistro to include all types of

 

new digital media, including AR, VR, et cetera.

 

But those two assets are in

 

recruitment and the Job board industry.

 

The JobMobz partnership is essentially a referral

 

agreement and this leverages the Recruiter.com brand and

 

lead generation capabilities and that has a $2

 

million minimum amount throughout the next coming years.

 

We also have a healthcare staffing business, which

 

is a legacy business, but it is a

 

growing business because of macroeconomic trends.

 

Healthcare is in focus across the country.

 

Our AI focus includes a number of announced

 

partnerships and also completely own proprietary technology.

 

Candidate Pitch, the first one of those is

 

an application that we have developed, I would

 

 

say it's in the first version, version two

 

is coming out and Candidate Pitch helps recruiters

 

develop instant profiles of talent and candidates.

 

And this is a software program that has customers.

 

It's in the wild right now, actually.

 

I encourage you to go to

 

Candidatepitch.com, see it for yourself.

 

It leverages the ChatGPT API from OpenAI

 

and does some very interesting things with it.

 

And we're going to continue to

 

build this application and invest there.

 

Recruiting with ChatGPT is a

 

content course that we developed.

 

We really did this to be on the forefront of

 

AI and Chat GPT and really kind of leverage the

 

really great interest in ChatGPT and AI in general.

 

This trains recruiters and upskills them and

 

also gives them certain AI-enabled tools

 

to do their work of recruiting better.

 

The MillionWays Partnership.

 

MillionWays is an announced partnership.

 

They have developed a proprietary AI

 

system which has emotionally intelligent AI.

 

So what does that mean?

 

It analyzes either text or audio and then can

 

discern certain personality aspects of the person writing.

 

So you can imagine there are some great ways

 

 

to leverage this in the human resources realm.

 

And we just announced last week a

 

partnership with MillionWays to develop their

 

product to the HR and employment market.

 

This is a partnership which

 

may have an equity component.

 

We announced that we are currently in

 

negotiations with them to acquire equity in

 

their company through an equity swap.

 

And then lastly, the AI Exchange Group is a

 

really interesting discussion forum of over 1.1 million members.

 

This is an AI forum, if you will, on LinkedIn.

 

And we're going to use this not

 

only to just promote discussion in the

 

area, but of course, promote our products.

 

And so this is going to be just

 

a growingly important channel for Cognogroup going forward.

 

That's the AI exchange on LinkedIn.

 

And I also encourage you to check that out.

 

And then, Evan, here you go. Thank you so much.

 

[Evan Sohn]

 

You know what, Miles, before we talk about

 

what's next, I actually could share a slide.

 

I have the revenue slide.

 

Brent, is Brent still on the backstage?

 

There you go.

 

Hey, Brent.

 

 

To me, I love this slide and it really

 

shows not just about a vision of mobile fintech,

 

but actually some real meat on the bones.

 

So I found the slide.

 

Sorry about the technical confusion there.

 

You want to just walk the

 

audience again through the slide?

 

We have about 60 plus people on the call today.

 

[Brent Suen]

 

Oh, certainly the core business. Again.

 

We call it Project X.

 

But a slight amount of due diligence will reveal how

 

we started out and how we named it before.

 

But I think for all intents and purposes,

 

going forward, we'll just call it Project X.

 

The revenue associated with that for last

 

year is only about 5.2 million.

 

This year, we're looking at a July through

 

December revenue rate of about 21 million.

 

From that heading into profitability three months out, the

 

6 million in green will be contributions from the

 

fintech acquisitions that we'll be adding in.

 

If you go into 2024, you start to see

 

how the fintech businesses really start to ramp up

 

while at the same time, you still see significant

 

growth from Project X, the two combined.

 

Again, we expect 104,000,000 in revenue

 

 

and profitability the year after.

 

For those who choose to stick around, I certainly will.

 

We believe that we can approach a quarter billion in

 

revenues, and that would imply an enviable market cap.

 

And I believe that by then, we'll certainly

 

be seeing valuations in the stock market that

 

would be representative of Valuing and enabling fintech

 

businesses to grow and succeed.

 

Thank you.

 

[Evan Sohn]

 

Thank you, Brent and I couldn't agree more.

 

So, again, everyone, you could check

 

out Brent Suen, his LinkedIn.

 

He's got just phenomenal background.

 

And for those of you who have spoken to me

 

prior to the call and throughout the journey as RCRT,

 

you'd realize that driving revenue over 100 million, hitting profitability

 

and really being just a great player on Nasdaq is

 

really fundamental to being a company on Nasdaq and just

 

could not be more excited to get Brent and the

 

entire team of GoLogiq as really benefiting not just Go

 

logic, but really the RCRT shareholders.

 

So, Brent, thank you so much.

 

Miles, you want to go back to the other screen?

 

There you go.

 

So what's up next?

 

The process now is we have a proxy.

 

 

You should be expecting that shortly.

 

In the next couple of weeks, the RCRT shareholders,

 

assuming shareholder approval, will be getting the GoLogiq

 

assets, which value the current RCRT market cap at

 

$17 million over four times the current market cap

 

of where we are today.

 

In addition, the RCRT shareholders will be

 

getting shares in the OTC spin out.

 

The value, of course, will be determined there.

 

And that was the CognoGroup

 

spin out that Miles walked through.

 

So we're taking the RCRT shareholders, we're putting

 

them in the hands of Brent and the

 

GoLogiq team at a market cap for our

 

shares at $17,000,000, 4 times where we are today.

 

And we're taking the assets and spinning them down to

 

an OTC to really be headed up by Miles and

 

all the incredible AI stuff that's going on in terms

 

of overall work tech associated with that business.

 

Again, very excited for both transactions, and

 

these are only for shareholders of record.

 

And again, going back to the disclaimer at the beginning,

 

there are steps along the way to get there.

 

But we have just an incredible team over

 

at Joseph Gunner Associates, our legal team of

 

Lukoski Bookman, really supporting this overall transaction.

 

And we're very excited to be moving forward

 

 

together with the folks at GoLogiq and of

 

course, towards spitting out the OTC as well.

 

So we did this through StreamYard.

 

I do not believe there are any chat

 

questions that came in through the chat.

 

I don't think it allows an open chat right now.

 

If anyone has any questions regarding this transaction,

 

we've disclosed as much as we can.

 

They'll be filing an 8K with this

 

presentation probably as well as the transcript

 

as well you can email me, Evan@recruiter.com.

 

Email me directly, evan@recruiter.com and I will try to get

 

that information over to you as fast as possible.

 

That's the best way to get in touch with me.

 

If you have any GoLogiq related questions,

 

brent, how should they get in touch?

 

For GoLogiq related questions, Brent@GoLogiq.com cannot

 

be more complicated, so cannot be easier.

 

Thank you so much.

 

Thanks so much, Brent.

 

Again, anyone has any questions, feel free to email me.

 

Evan@recruiter.com or Brent@GoLogiq.com.

 

[Miles Jennings]

 

Evan, sorry to interrupt.

 

There are a couple of questions that just came in via

 

one of the social channels, and I can ask them.

 

I think this is really the

 

 

first one is really for Brent.

 

I thought we might as well do this live.

 

So, Brent, Rich asks, are any

 

of the acquisitions under Loi already?

 

[Brent Suen]

 

They are.

 

[Miles Jennings]

 

I think that's all you can say.

 

Short and sweet. Yes.

 

And also, Alan: can you explain or

 

give an example of GoLogiq current

 

businesses and revenue projections excluding future acquisitions?

 

So I think, Alan's, getting to the existing

 

business, how you might project that going forward

 

versus the future acquisitions that are planned.

 

[Brent Suen]

 

Certainly.

 

So the core business, when we began back

 

in 2014, it was and still is, through

 

a number of iterations and evolutions, an app

 

that is enabling to micro and small businesses.

 

And the way that we marketed it when we started

 

out back in 2014 was through a partnership with a

 

direct sales team, which had, at the time, 1200 salespeople.

 

We expanded that and grew that to 37 million

 

in revenues in a very short period of time.

 

We had about 93% cumulative growth

 

 

over four years on that.

 

However, our costs that were alongside that, with

 

the direct sales team and associated customer support,

 

unfortunately scaled up alongside the revenue.

 

So it was very difficult to head towards profitability.

 

Over the years, we tried different iterations of

 

digital marketing, still with the same results.

 

And it wasn't until again in April that we

 

had this breakthrough on the sales side and on

 

the customer support side, which really is indicative of

 

how artificial intelligence is enabling in a number in

 

a broad range of industries.

 

Specifically, for us, I can't say that it

 

was just purely the whole ChatGPT platform.

 

It was also the way that it was

 

integrated in with Radix, which is our AI

 

platform that we built eight years ago.

 

So in speaking to that, the revenues from

 

this business alone last year were 5.2 million.

 

This year we have restructured it for

 

the first quarter of this year.

 

What you'll see going forward, from roughly

 

July until December, we estimate to be

 

about 21 million in revenue.

 

So the 7 million on top will be

 

additive from the acquisitions going into next year.

 

We believe that we'll generate around

 

 

72 million from the core business.

 

The added revenue from the Fintech acquisitions will add

 

another I'm not looking at the slide, but I

 

believe about 26, 27 million taking us up to

 

the north of 100 and 100 million in revenues.

 

So I hope that that illustrated it properly.

 

[Miles Jennings]

 

Thank you, Brent.

 

Another question that came in was the

 

timing on the SpinCo becoming public.

 

The proposed spin out of CognoGroup and

 

the subsequent quotation on OTC markets is essentially

 

concurrent with the GoLogiq transaction.

 

Probably right before, but essentially concurrent.

 

So this would be in the same transaction,

 

and it would be in the proxy.

 

So the long pole in the tent,

 

if you will, is the shareholder approval.

 

Hopefully, everyone got a very good idea of Brent's

 

businesses and what we have intended for CognoGroup.

 

And so that will happen really all at the same

 

time, and it could be essentially a couple of months,

 

and then sorry, one other question for you, Brent.

 

Am I correct in thinking that current GoLogiq sorry, GoLQ shareholders will also own

 

shares in another portion of the current business?

 

So he's talking about your

 

 

existing business, Gamma Ray.

 

So would they still maintain that ownership? Correct?

 

You might say?

 

[Brent Suen]

 

Yes, that is correct.

 

Yeah, that's correct.

 

[Miles Jennings]

 

Okay, I think that's all of our questions that we have

 

for now, and so we're going to wrap up now.

 

Again, thank you all very

 

much for joining this presentation.

 

We're very excited about this transaction, and as Evan

 

mentioned, if you have questions, additional questions, please feel

 

free to email Evan, myself, or Brent.

 

You can reach us directly, and we will

 

attempt to communicate very clearly to our shareholders

 

throughout this process on any updates and developments.

 

Again, thank you very much

 

and have a wonderful evening.