Ngen Technologies Holdings Corp. (fka NGRP)

[Det_Robert_Thorne]

Who knows if Lund is still holding?

Richard Lund is a 10% owner and placed his shares in a roth , which requires a 5 yr hold...........He is willing to wait till 2022...

I think you're wrong on the 5-year holding requirement.

EARNINGS in a Roth IRA can't be withdrawn for five years after the account is established, but one doesn't have to hold a stock for 5 years (I've been trading stock, short and long-term, in my Roth IRA with no penalty for years).

If Lund used money in his Roth to buy shares of LIBE, he can sell them at any time and there will be no penalty, as long as he doesn't take any profits out of the account within 5 years of establishing the account.

The Roth IRA is a retirement saver’s dream. Contributions to the account can be withdrawn at any time tax- and penalty-free. The earnings on contributions come out tax-free in retirement or retirees can just let it ride. No distributions are ever required.

But there is one significant caveat: the Roth IRA 5-year rule. Five years must have elapsed since the tax year of your first Roth contribution before the earnings can be withdrawn tax-free. That applies across the board to retirees, even if the account owner is 110 years old, a first-time homebuyer or in fact, dead.

http://www.bankrate.com/investing/ira/roth-ira-5-year-rule-the-tax-free-earnings-clock-starts-ticking-at-different-times/


Regarding Lund, when he bought the LIBE shares in August, 2017, there were 3.2M outstanding shares reported in the 10-Q for 3Q/17, which put Lund's 880.6K shares at well over 10% of the OS.

LIBE's OS is now approximately 14.5M shares, which puts Lund's holdings at about 6.1%. Therefore, he's no longer a beneficial shareholder, and ins't required to report his holdings. He may already have sold his LIBE shares.