Effective as of March 24, 2022, NUGN has changed its status from “shell” to “nonshell”. On March 24, 2022 Livento Group LLC announced the acquisition of NUGN and confirmed a change in its business model, redirecting its focus to Livento’s three primary sectors; real estate development, artificial intelligence and machine learning products, and film and television production. The company is currently in process of developing residential real estate projects in Prague, Czech Republic. Prague is the 2nd fastest growing city in the EU and demand for affordable living space is very high. Livento directly develops and manages these projects, with 8 million dollars in projects currently under construction and another 20 million dollars in projects underway. The designation of “shell company” as defined in Rule 405 under the Securities Act of 1933 as well as Release 33-8587, is determined by whether the entity has no or nominal operations and no or nominal assets.
