Nano Magic Inc. (NMGX)

[jcseeker]

No more DOA than it was before this ruling. If I read this correct, at some point NMGX filed a petition asking for "all" the evidence against them regarding the ruling 2 years ago. This ruling is saying they aren't going to give it to them. What's ridiculous to me is how it took the SEC this long to make this ruling and now is giving NMGX 30 days to respond. As always the SEC has no timeframe to do anything. So I'm guessing NMGX will formulate a response in a week or so and then the SEC will sit on it again for 2 years. Typical that the SEC will not admit they made a mistake with no regard to investors.

[BJ_Cooper]

NMGX appears to be dead in the water. Despite this fiasco, 2021 turned out to be a great year for my trading account!

[wannabeeriche]

Bad Move!

Nano Magic had the facts! They should have sought insights into the SEC’s legal analysis. With that information they would have had an opportunity to uncover a politically subjective and haste driven decision.

Smarter Attorneys Are Desperately Needed

[Renee]

NMGX: SEC "ORDER DENYING MOTION TO COMPEL"

https://www.sec.gov/litigation/opinions/2022/34-94818.pdf

[wannabeeriche]

A Suggested Novel Strategy

Or, when all else fails.
The best defense is a good offense!
Ladies and gentlemen I give you “CovidMagic Relief.” I disinfectant that kills 99.9% of the COVID virus on any surface.
“Balls to Wall” “To hell with the torpedoes! Full speed…”
Betcha the SEC will want to get back to the table talks.

[Scramus]

Could be more of a delay per current events.
The reasoning being from the following statement likened to all hands on deck
will be busy pursuing something else.
"DOJ/SEC would have to pull lawyers off other matters in order to put them on Musk full-time. That just doesn't happen. DOJ/SEC doesn't have a pool of idle lawyers standing around waiting to be assigned to something to do. The Mueller SCO learned this."

[BJ_Cooper]

Still no relief from the SEC. The corruption in our government runs deep.

[jcseeker]

pqr...Thank you for the info.

[pqr]

The length of time during which the SEC has not issued a final decision “on the merits” of the alleged violation would be an important factor the appellate court would consider in deciding whether to grant or deny issuance of a writ. NOTE tho that even if granted it is unlikely the court would indicate any opinion of the merits. It would only tell the SEC to issue a decision.

[pqr]

A quote from a recent mandamus case involving criminal procedural issues: A “writ of mandamus should issue only if: (1) “the party seeking issuance of the writ [has] no other adequate means to attain the relief he desires”; (2) “the petitioner [satisfies] the burden of showing that his right to issuance of the writ is clear and indisputable”; and (3) “the issuing court, in the exercise of its discretion, [is] satisfied that the writ is appropriate under the circumstances.” Cheney, 542 U.S. at 380–81
…
In the NMGX application the company is asking for an order directing another branch of government, the executive branch, to do something. So, since NMGX’s application implicates “the separation of powers [doctrine], the Court of Appeals must also ask [whether issuance of a writ would] constitute[] an unwarranted impairment of another branch in the performance of its constitutional duties.” Cheney, 542 U.S. at 390.

[pqr]

JC: mandamus is so unusual i and most never deal with this procedure. Also I think tho I could not confirm that most applications involve prisoners seeking relief so statistics about the frequency of success and timing would not likely be helpful. In comparison IMO the present case where an agency of the executive branch is simply not acting where it is required to make a ruling one way or another is the type of unusual situation where a writ might properly issue.

All courts run on their own schedule so predicting a result would be a guess or at least I would not be able to offer a meaningful estimate. See next post for more…

[jcseeker]

PQR... Since you are the attorney in the group do you have any idea of the time it takes to rule on the Writ of Mandamus. I did a little searching and it seems like the typically time is 60-90 days. But since the SEC hasn't ruled on their petition from 20 months ago is the timeframe valid? It sure didn't take 20 months for them to rule against them/US.

[pqr]

Well for the longest time I would not pay for that either. But after a while I gave in.

[BJ_Cooper]

pqr, I don’t have the ability to send pm’s. I’m too cheap to upgrade my account. lol

[BJ_Cooper]

According to the SEC, I was one of the so called “promoters”. I can promise you that nothing could be further from the truth. I’m just an average guy who is holding my NMGX and hoping for a return on my investment….if that ever happens. Their allegations were completely baseless.

[pqr]

JC: because IMO only, SEC followed over-aggressive staff recommendation and made a decision that it now wants to go away. So, NMGX is off to the purgatory of “we’re thinking about it.” Pathetic.

[jcseeker]

Did you guys see the latest 8-k?

https://compliance-sec.com/secfilings/company/penc/link_files/2022/02-17-2022/Form8-K(02-17-2022)NanoMagicHoldings/Form8-K.pdf

A glimmer of light! At least I feel they are still fighting for the cause and not just letting the SEC bull them over. I still have no idea why the SEC chases after these small fish when the sharks loom large. Let them be... if their product isn't what they say it is sales and the SP will take care of itself.

Lets go SEC!!! make this right!!!!

[pqr]

Hi JC. Thanks for the welcome. I probably don’t show up as an individual shareholder. I bought from the management group in PEN 2 Comeback. I think that’s the best explanation. I would be a buyer if there are directly-owned shares available. In the FWIW category I am a lawyer and have followed the SEC b.s. as much as I have been able to figure that out.

[jcseeker]

Welcome pqr … but how in the world are you a new shareholder? The stock doesn’t trade on the open markets unless you are selling.

[BJ_Cooper]

It did trade, before the SEC made false accusations and screwed everybody over.

[pqr]

Hi new shareholder here does this trade at all? What platform?

[BJ_Cooper]

I take this to mean that the SEC knew it was wrong, but won’t admit it. In the meantime, the company and it’s shareholders continue to get screwed over by the SEC.

[callmeacab]

The Wheels of Justice sure turn slow. If I had read this in August, I would have been expecting near-term relief given how positive the letter sounds. At least we should take some comfort that the path to normalcy continues in the background. Thanks for finding and posting!

[jcseeker]

Greetings all... I was digging around this evening and found this filing that I thought was interesting, especially since I haven't seen it before.


In August of last year this was filed.
https://www.sec.gov/litigation/opinions/2021/34-92703.pdf

"Writ of Mandumus" if action wasn't taken on their petition in a timely manner? I'm not sure what timely means but I would think since we are coming up on 2 years in May that some type of action would be taken soon.

[callmeacab]

Yay for small (can I say nano?) victories!

[BJ_Cooper]

I guess the nano tech in our spray is safe then.

[Scramus]

"Defog sprays used to stop glasses steaming up when wearing a face mask could be exposing people to cancer-causing chemicals, study warns"

By IAN RANDALL FOR MAILONLINE

PUBLISHED: 11:06 EST, 5 January 2022 | UPDATED: 11:07 EST, 5 January 2022

https://www.dailymail.co.uk/sciencetech/article-10371589/Health-Anti-fog-sprays-used-stop-glasses-steaming-exposing-people-carcinogens.html

The good news is that our company isn't on the list for now.
Scroll down on following for published products:

https://pubs.acs.org/doi/suppl/10.1021/acs.est.1c06990/suppl_file/es1c06990_si_001.pdf

[callmeacab]

The bid is now 5,000 at $0.10. A few years of $0.05 gains and we'll be talking real money (which of course will still be worth $0.05 because of inflation)!

[BJ_Cooper]

.05 Better than nothing I guess.

[callmeacab]

10-Q for Q3 2021 is out. Nothing terribly exciting. Revenues are lower because of relatively high lens care (anti-fog) sales in 2020 due to masking. I'm more disappointed of the lower level of services (the part of nano that I originally bought into) with no further discussion.

For positives, their cash position is solid partially as a result of funding from stock sales, although they seem to have a continuing issue with high accounts receivables (which they are selling at a discount to a 3rd party I presume to raise cash). Also interesting is the the high level of stock options being granted to the Bermans at a $0.75 strike (in lieu of cash compensation?) I consider both stock/option items a positive because it means 1) stock sales are an important funding too; and 2) the Bermans have skin in the game. Both 1) and 2) suggest there will continue to be a push to get the stock back into mainstream markets. The big question at this point is "how" since I did not see it discussed in the 10-Q.

All this is based on a quick read, so there may be more information to gleem on a detailed read.

[Scramus]

A lot of shuffling is going on per the recent filings. Comments?
There must be some necessity here that I am missing.

[BJ_Cooper]

This thing has a long way to go before I would consider dumping any shares. I’ve just about chalked this on off as a loss, but I might as well hang on in case a miracle happens.

[Scramus]

Talk about stratified layers and tiers.
The cat is bouncing in the opposite direction now.
Am I interested enough to use my trading viewer yet?
No. Someone must have released a pressure value
in the boiler room as evidenced here.
Have all those compensated in stock decided to bail
before the year is out to clear the deck so to speak?
Call me after the holidays are over, please.

[jcseeker]

It's strange how some brokerage companies have the swing and others don't. My Schwab account won't let me trade it (which I wouldn't even if I could) but it shows the uptick. My Ameritrade account doesn't even show the gain today. I've searched all over and don't see any news so I'm guessing it can go down again as fast as it rose.

[callmeacab]

The best that I can say is that the business never went away, just the openly traded stock. When they figure out how to get the stock back off the pink sheets, the previous value should return to some degree. If we see more buying at these prices at greater volumes, then we might be close. I'm sure not selling now after holding thru a year+ of uncertainty.

[jcseeker]

What the heck just happened? Sp @ 1.5 .

[wannabeeriche]

At least they're punctual with changing the shade of lipstick on the Pig's lips.

[Truebreed]

This thing is a pig:)))

[Scramus]

Long toothed estate sale tidying up perhaps?
Sometimes those holy relic pink sheet stocks
clutter up everything--finality is needed.
I did ask my broker if his solution to my problem
was the "final solution" once. A person can only
hold on to what is viable for a certain timeframe.
Life marches on without a pause until cobwebs and skeletons intervene.
Was that Long John Silver seeing a hanging skeleton's toes pointing to the treasure, mate? Keep searching, it is there.

[callmeacab]

About the only rational reason is tax-loss selling before big brother takes that away from us.

It appears we are finally coming out the back end of this morass and heading in the right direction. Not sure if I'll ever get close to break-even, but since I've previously written off the investment in my mind I just plan to hold and enjoy any journey back up. My secret hope is that the Reddit crowd somehow finds us and takes us for a wild ride.

Good luck to all long-term holders.

[BJ_Cooper]

Only a fool would sell here.

[jcseeker]

The latest movements make no sense to me. Who sells at these levels?

[Scramus]

"Make Everything Trump Again"?

That will give one pause for reflection.
Someone is always thinking up clever things elsewhere.
I do love the social media but I don't use it directly.
Watching people having withdrawals during service outages is
my only fun hobby--the longer, the better.

[jcseeker]

Did you see their latest tweet about wanting to change their name... AGAIN???

Thinking about changing our name to Nano Meta...or Meta Magic. Thoughts?@meta #Meta #Metaverse

— Nano Magic (@purplenanomagic) October 29, 2021

[BJ_Cooper]

Interesting. Schwab still isn’t letting me buy though.

[jcseeker]

Definitely worth checking out. Latest 10-Q is out.

https://www.otcmarkets.com/filing/html?id=15310710&guid=QDbwk6Q1Uv8cOth

[harr449]

Pink Current.

[Scramus]

Well maybe the labels being printed with those French language
descriptions won't be offensive. I once worked for a company
whose brand name means "vomit" in French--Gerber.
Which at a later date was purchased by a Swiss company that
invented LSD and owned the Ex-Lax brand too--brand names matter.
Babies erupting on both ends with hallucinations sounds to
be in good company with the holders of this stock IHMO.

[jcseeker]

https://curvedistribution.com/press-release-curve-nano-magic/

Too bad we can't buy any stock. :)

[jcseeker]

Yes he did say 40. He also said he had 2 goals when he came on board...
1) Save the company???
2) Help bring jobs to Michigan.

How bout a 3rd... Help his loyal stockholders!!!