Cuentas Inc (CUEN)

[JG305]

MIAMI, October 11, 2016 /JG305Newswire/
Next Group Holdings Makes Material Announcement Without a Corresponding SEC 8-K Filing.

Next Group Holdings, Inc.'s (OTCQB: NXGH) (the "Company") subsidiary, Meimoun & Mammon, LLC (M&M) through its Tel 3, STI Mobile and Next Mobile 360 brands made a "material" event announcement via press release today without filing an corresponding SEC 8-K. The press release discusses alleged "record" revenue. This PR is considered potentially impactful enough to influence the public into making an investment decision about a public company.

A spokesman for the SEC today said, “the types of information required to be disclosed on Form 8-K are generally considered to be ‘material,’” … [meaning] “there is a substantial likelihood that a reasonable investor would consider the information important in making an investment decision.”

To determine whether a public company needs to submit an 8-K, the management team needs to ask itself this question: does this event affect decisions made by investors, now or in the future? If the answer is yes, then they need to file the 8-K.

The question the public must ask is, was this an attempt by management of NXGH to influence the price of a fading stock? And, will there be an 8-K filed in relation to this matter?


http://www.prnewswire.com/news-releases/next-group-holdings-announces-record-monthly-revenue-in-september-596641721.html