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I've grabbed as much as I feel comfortable with for now, I still need to see signs of the merger being finalized, and watch how this trades before adding any more.
Nice work here, I think I will end up grabbing some at 80 cents
The more I look at the way this merger is being structured I don't mind it at all. In probably 95% of mergers you see on the OTC the incoming company pays a set amount of $$$'s, to the shell owners, for a controlling block of shares.
In this case, because of the value of NewGen, the shell holders are actually giving up control of the shell and PAYING the incoming company, up to $2M dollars, because they know the shares they get in return will have substantial value.
I suppose in a way it's bit of a risk for Greenwind shareholders because they have already invested a substantial amount of money upfront into the shell, and they will owe another $400K upfront to close the deal. So you have to assume Greenwind has done extensive due diligence on NewGen, they wouldn't be doing this unless they were certain that this was going to be a winner.
However, the only way to ensure this works for BOTH parties is to have non-dilutive measures in place. If NewGen dilutes then Greenwind shareholders lose money......on the flip side.....if Greenwind dilutes then it hurts NextGen's market cap and ability to uplist to a more liquid market. This is probably going to be somewhat thinly traded until they uplist, it wouldn't take much dilution to tank it, so both parties need to be careful, they have to keep each other in check.
I feel pretty confident this will uplist, Dr Jaikaria doesn't strike me as a Pink Sheets type of guy, if he spearheaded Immunocellular's uplisting there is no reason to think he would not do the same with his own company IMO.
Here is a look at ImmunoCellular's PR back in 2008 when they appointed Dr Jaikaria to their Board of Directors, he served on the board from 2008-2012.
http://files.shareholder.com/downloads/AMDA-1HS8HT/3538574775x0x625369/44A480EB-37AA-4CB6-9278-A36EF4072D78/625369.pdf
And here is where he was named in 2007, by the Wall Street Journal, as a master stock analyst in biotechnology.
http://www.wsj.com/public/resources/documents/best2007-stocks.htm
Looks like this is getting started here, hopefully Wedbush Securities doesn't have too many shares and this can start moving up progressively.
Interesting, finally some bid support, $19K bid @ .75, lets see if that gets filled or if .80 is as low as they are willing to let shares go. I rather see the company make them buy at the ask than keep lowering the price.
NITE down to .80, this is prob the buyer who got the 10K @ .80 a few weeks back now willing to break even. Personally I'd hold on to those shares, if the merger goes through private placements are going to be done @ $1, so anything under that is a good deal IMO.
Also, if I am understanding the filings correctly a maximum of only 2M shares will be sold after the private placements, so there will be a limited supply of shares available. If Dr Jaikaria can manage to create a demand for the stock through his Wall Street contacts, whilst limiting the supply of shares, then this should be quite good.
Now I don't expect NewGen's financials to be very good, if they have a decent cash position I'd be happy, but the fins don't necessarily need to be great either for this to still run. Look at ImmunoCellular, that was around $50 a share while Dr Jaikaria was there, dilution eventually killed it but that didn't happen until the last couple of years.
No sign of WEDB the last few trading sessions. I have well over 100 stocks on my OTC watchlist and not a single one has Wedbush Securities as a market maker. They seem to be primarily on big board and OTCQX banking stocks. Perhaps that doesn't mean anything for NEWG, WEDB is only on the ask, not bidding but I find it curious nonetheless.
Article from 2013 mentioning NewGen's FDA approved MNP platform. This seems to be where the real value of the company is, not as much with Estrasorb itself, I'm not sure there are any profits in Estrasorb as it seems to have high manufacturing costs.
http://pharmaceuticalcommerce.com/manufacturing-and-packaging/transdermal-drug-delivery-looks-for-new-frontiers/
I was trying to determine NewGen's lab location as the address on the filings is a residential one. It looks like they may in part sponsor a lab at Auburn University as Dr. Jayachandra Babu Ramapuram has received over $700K in grant money from NewGen.
I wonder why this merger is being structured the way it is with the Greenwind shareholders getting 10M shares..? Even if they end up advancing NewGen the full $2M dollars that still isn't worth 10M shares IMO.
Think I'd rather have bought a clean OTCQB shell for $300K or $400K and gotten 99%+ share delivery, or for that matter, went the direct registration(S1) route, that way I'd have full control over the supply of the shares into the market.
Dr Jaikaria obviously knows what he is doing but the potential unknown dilutive effect would be concerning to me, as it is now we are already seeing Greenwind leaking shares under $1 into the market before the merger is even a done deal.
It looks like the MM's @ .80, $1 and $1.49 are holding more shares than is what is shown on L2, so there still may be time to get in cheap when the first volume starts rolling in, just have to keep an eye on it.
I think it's best to wait. Better to buy late and see "some" green than early and see none
I missed this in the latest 8K filing
If this merger was done one would think with Dr. Jaikaria's supposed Wall Street connections that we'd see some early buying or bid support... and we have seen virtually none of that thus far.
I think the 10K shares sold @ .80 was prob just an iHubber or someone trying to flip @ $1.00 as NITE has more shares than he is showing, and $1 arrived on the ask immediately after that purchase.
We're on the same page. Keeping an eye on the NVSOS entity for changes
WEDB back with shares @ .80......that's tempting, wish I knew if this merger was finalized, sure doesn't seem like it from what we have seen thus far.
RTRO is basically a clean shell with low OS (14+ million) and low float (2.5 million) and keeps up their SEC filings. I see that the new director Wagenhals has a pretty good track record as an entrepreneur and creating/selling companies.
I had not really done much DD on RTRO, only was looking into the failed merger with NewGen.
It's a little concerning to me that Dr. Jaikaria was going to merge NewGen into a shell that was trading at like .05 or less cents at the time, however, that was 6 years ago NewGen has come a long way since then.
NewGen was a new company that had no assets or revenue back then, now they have the Novavax assets, are generating revenue with Estrasorb, have 20 drugs in their pipeline and have raised multi-million dollars in investment capital.
You're welcome. Came across your post in a search to see if this has popped up on anyone's radar.
Interesting, will check it out, thanks for the info.
Maybe not NEWG, but looks like RTRO going to do something again - https://www.sec.gov/Archives/edgar/data/1015383/000107997316001356/reto_8k.htm
lol...I agree, I mean ultimately whether you pay .80 or $1 for the first shares available, it's not going to make that much difference in the long run. Especially if they have any current partnerships or alliances with big pharma, which IMO is entirely possible with their proprietary MNP platform.
Unfortunately the NewGen website is outdated and does not provide much information on the products in their pipeline beyond Estrasorb. In fact it doesn't appear the website has been updated in several years.
Same here. Don't want to pay too much lol
Still waiting to see some ask slaps before buying this. NITE had more shares @ $1.00 then he was showing yesterday, if those start falling it might be time to get on board IMO. Granted there still maybe shares to be had at the bid, just depends on how many they are willing to let go below $1.
I'll prob pick up some, but not that many, since they have announced and terminated a merger in the past. Beyond the name change I see nothing to indicate this is a done deal, even the SOS page still shows Alfiler as president.
I had a feeling the bid was going to get filled, prob an insider who knows the merger is a done deal I'd imagine.
LOL, it's like they are reading the board
I think they will sell more
Crap I had a hidden bid in @ .81, in case the bid got whacked, and got passed right over....lol.
There was 2500 @ .90 but that MM never returned. Personally I think they should put up 5K or so @ .85 or .90 as a starting point, especially now they have some bid support, tighten up the spread.
Part of me wants to throw up a bid at 1. They may just sell into it. They were willing to sell at .90 last week right?
CDEL back with his 825 shares for sale.
Yep, I saw. Watching like a hawk lol
Bid increasing, time to start watching for blocks to appear again IMO.
New seller showed up Thursday with 825 shares @ $1.35 but disappeared on Friday.
This one's risky and a tough call for me, obviously at this point we don't know if the merger was completed, or what NewGen might be worth, as we don't have the financials. However, my gut tells me this goes up from here. I would not be surprised at all to see $5+ once the merger becomes a done deal and Dr. Jaikaria starts spreading the word to his Wall Street colleagues. There is no reason why he could not take this to $5+ IMO, especially if he knows what he's doing. At the very least he's going to want a $4 pps for uplisting purposes.
Now I don't like the fact that each time someone has slapped the $1.50 a mystery seller has shown up with a handful of lower priced shares. Personally I think they should put a block of 5 or 10K shares or so below $1, then steadily bring the pps up as more volume comes in. If orchestrated properly then $5 - $10 is achievable IMO, if not it will be a bust and end up sub $1.
It looks like NewGen was going to go public back in 2010 in a merger with RTRO but it fell through.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7550667
Yeah that's why I pulled it; it was just a test lol
I can't see any shares getting sold at the bid, sometimes companies will let a few go early cheap but it seems like they want closer to $1 to start out IMO, at least that's the way it sounds in the filings.
It was. I pulled it. Was 3k.
Someone else is bidding 1k (total was 4k) cause it disappeared as soon as I pulled mine. They're not showing sizes below 2.5k
Is that you @ .50, I'm seeing it now if so.
I'm bidding but they aren't showing it
I'm curious to see $1.50 get hit again and if that brings back WEDB, or was it just a fluke.
If you look at Dr.Jaikaria background, he was basically the one who spearheaded ImmunoCellular Therapeutics NYSE listing, so I'd imagine he will be setting NEWG up to do the same.
He doesn't appear to be your typical doctor/CEO who knows the science but doesn't have a clue about the stock market itself. Dr. Jaikaria is a Wall Street expert with many connections.
Not often you see big board MMs on OTC tickers. Certainly worth a watch
That's him, showed up briefly with 2500 shares @ .90, after the $1.50 got hit, then vanished.
WEDB = Wedbush? The analyst firm?
Historical data shows 4,250 shares have traded total, virtually all shares between $1 and $1.25, though 500 were sold for $5 and a tiny hit on $10.
Symbol:
NEWG
GO
Time Price Volume Market
12/13 1.49 100 OTO
10/11 1.00 200 OTO
10/11 1.00 100 OTO
10/11 1.00 100 OTO
10/11 1.00 100 OTO
10/11 1.01 100 OTO
09/29 1.01 300 OTO
09/29 1.25 100 OTO
09/27 1.25 300 OTO
09/27 1.25 825 OTO
09/23 1.25 420 OTO
09/16 10.00 5 OTO
09/16 5.00 125 OTO
09/16 5.00 145 OTO
09/16 5.00 125 OTO
09/16 5.00 100 OTO
08/11 1.00 100 OTO
08/11 1.00 500 OTO
08/11 1.10 100 OTO
08/11 1.10 200 OTO
08/11 1.10 200 OTO
No sign of WEDB today, can't say I very familiar with that market maker.
WEDB didn't show up yesterday until someone did a small purchase @ $1.50. I tried putting a test order in @ .90, to see if WEDB was showing his true number of shares, but it wouldn't process for some reason.
I'm not really a pharma guy but this does look pretty interesting.
https://www.linkedin.com/in/navdeepjaikaria
First blocks just appeared here @ .90, new MM as well WEDB.
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