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Strong close, the big $95K dollar bid swung the momentum back to positive in a hurry.
Next week should be very interesting if they can manage to close this deal. I'd expect once they release the news about their nano-cannabinoid research, it's going to bring in a whole host of new investors and interest.
I would highly doubt we see these prices again once the merger is complete and PR's start coming out.
$95K bid @ $1.45, think that is the biggest bid I have seen since I started watching this from the beginning.
Lost some momentum here when they entered their pre-merger quiet period, which is now looking like what has happened, however, should swing back positive on Tuesday if they can manage to finalize the merger and issue the first PR.
8K filing today, a follow up to the Form 3 which shows Dr. Jaikaria being appointed to the Board of Directors. So the merger is definitely still alive, for that matter maybe it was never in jeopardy, it just looked that way to us.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11803906
it was great 2 see this filing. it looks like we are getting closer :) thanks for all your great insight on the board here. its been really helpful. fingers are still crossed but in a more relaxed way..
have a great night
:)
Feeling much more confident about this now after the Form 3 filing. Form 3 indicates a preliminary insider transaction, so now I believe we should see a Form 4 coming soon showing Dr. Jaikaria acquiring the 40,000,000 shares.
Once that happens then he has officially taken control of the shell and it's basically a done deal IMO.
Ok I think this is looking better now, Form 3 just filed showing Dr. Jaikaria as a director of the shell company.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11801751
I don't necessarily have a problem with them making a lot of money selling shares prior to the merger, and they definitely made out, I'm still not sure how they managed to bring in the volume they did.
BUT they also spent a lot of money, out of there own pocket, for several years filing and maintaining their SEC documents. There was very, very few shares sold prior to the LOI, so they paid several hundred thousands of dollars upfront, without knowing if/when they would find a merger candidate.
If they continue selling shares and tank it, knowing the merger is dead though, that is BS.....that's not only just underhanded... it's illegal.
Yes, I'd fully expect a sell off AFTER the merger was officially terminated and the public found out....but NOT before, thats insider trading.
they made out like bandits from the .80's if such is the case. and if its the case they will get away with it. our system is a joke.
Large dump @ $1.45.
I'd say I'm 60/40 right now that the merger has been terminated. I can see why they might have removed the NEWG info from their website as it was influencing the trading, which is what the 'quiet period' before any material event is suppose to eliminate.
However, I've noticed over the years that companies that have failed mergers, often have multiple ones, so i am skeptical.
If the merger has been terminated, and it looks like insiders are dumping, before the news has been made public, you can bet I will be filing a complaint with the SEC to look into potential illegal insider trading.
Seems like alot of paper work and money for nothing. but yes i think its a 50/50 shot here.
NewGen entered into a merger agreement with RTRO 6 years ago and the deal was terminated at closing, so it wouldn't surprise me to see it happen again.
If we don't hear something by the 31st then I'm going to assume the deal is dead.
Yeah just read it, still no confirmation of a merger...but...no indication that it's off either....just have to wait and see at this point.
$NEWG they just put out there 10k so at least we know they arent going into hiding. maybe a good sign. fingers crossed.
If the merger has been terminated, the least NewGen(private) could do is post the news to their website. That way folks aren't left waiting, wondering and holding the bag long after the insiders have dumped. Also, it keeps investors from being duped, thinking they are investing in their company but are really buying an empty shell with the same name.
I feel like they owe that to investors after they plastered the ticker symbol, stock price, filings, etc all over their website and made it appear as though the merger was a done deal.
yes i agree. late day here certainly looked like this fell apart. i hope not but the trading looked telling.
Tanked end of day, looking kind of grim right now but I'm still hopeful this works out. Unfortunately deals do fall apart from time to time, it's one of those things that happens in the shell & RM game, so you have to be ready to accept that.
As of yesterday, there was still one link on the website that connected NewGen (private) to NewGen (public) and that was the regulatory information(ie links to the SEC filings). That has now been removed as well.
IMO right now I'd say there is a 50% - 50% chance that this merger is dead.
It all boils down to whether or not the info was removed because of the 'quiet period'... or... because the deal is dead or delayed. I don't see any other options at this point.
I guess it's to be expected, have to manage risk at this point. There would have been more buyers today if they weren't sending mixed signals as to whether or not the merger was still on.
Some sellers showing up today. Still here, holding
NewGen BioPharma Corp(private) may have jumped the gun putting the website online showing NewGen BioPharma Corp(private) and NewGen BioPharma Corp(public/shell) as one in the same for the past 10 days....however...perhaps they thought it was basically a done deal and now something has happened with the shell owners...maybe the shell owners haven't met the closing conditions yet..??
I really have no idea whats happening, they should have just left the website alone, unless the merger was totally off, I doubt the SEC would have cared. Hell I see OTC companies pumping their mergers all over Twitter, before they even file any paperwork with the SEC....and the SEC doesn't seem to care.
I still feel as though it could potentially have something to do with the SEC 'quiet period' that takes place during IPO's and mergers, granted primarily on the big boards....but still.
If that's not it, then it is probably bad news unfortunately, especially if the Nevada SOS isn't updated or 8K filing doesn't take place by the 31st.
Whatever the case, it's concerning.
management failing..and I pulled some strings to get chart up on stock charts...its up the answers are there
It's seems like there has been too much accumulation to cancel the merger at this point, just seems odd they would remove every reference to NEWG over the weekend.
Also the sudden buying drop off today and past failed merger is a concern as well, idk maybe it's nothing and I'm reading too much into it, I tend to do that...lol.
I don't think this is necessarily a reason to panic just yet though, there could be a couple of reasons for this:
A) its due to a pre-merger 'quiet period'
B) they are updating the info on the website
or (worst case scenario)
C) the merger has been cancelled and/or postponed
I've noticed that most signs of NEWG the public company have been scrubbed off the NewGen website. The share price, TA info, references to NEWG, share structure, etc.
This is what the FAQ looked like on Friday, much of this is now gone.
I think this is one of the most promising companies I've seen in years on the OTC, it has literally everything going for it that you could want in a OTC company with massive potential......and it's in the hottest sector, cannabis biotech/pharma.
The only thing I don't like about it is that I wish, post merger, Dr. Jaikaria had a higher share ownership percentage, he ends up with about 77% of the outstanding shares.
For those who like the read the science behind something, this is a good article on NewGen's proprietary Micellar Nanoparticle (MNP) technology. MNP is a transdermal drug delivery platform, one of 3 that have an FDA approved product. There have only been 13 FDA approved nano-drugs thus far and NewGen has the rights to one, Estrasorb, everywhere except North America.
Elan Corporation was the leading nanoformulation company and successfully re-formulated the majority of the 13 approved nano-products. Elan sold its delivery business to Alkermis for $980 Million in 2011.
NewGen acquired the MNP technology from Novavax, Inc.(Nasdaq:NVAX) back in 2010. Novavax had spent 10 years and $100M dollars developing the first generation of the platform, and NewGen spent the next 10 years improving it.
http://www.particlesciences.com/docs/Micellar_Nanoparticles-Applications_for_Topical.pdf
sometimes the OTC can put out a GEM, this has that appeal. These guys are the real deal. they have the platform and for the cannabis market in their vision...still far away but these plays can be the best to buy and put away!!
Check out PKTX big things happening there.
Your not late at all, hell I'd say it hasn't even begun yet. Yes, you may have missed the initial MM loading phase but the public still doesn't know about this at all since the merger hasn't even finalized yet, and there have been no PR's.
This has a long, long way to go IMO. I don't even have a pps I'm aiming for, I'm going to give this a lot of time to develop and let Dr. Jaikaria do his thing.
I'd imagine we'll eventually get some decent wall Street biotech analysts covering this, which is rare for an OTC. For that matter I highly doubt the OTC market is the final destination for this. I have not read anything, as of yet, as to what Dr. Jaikaria's plans are concerning uplisting but I personally feel it's in the cards after what happened with ImmunoCellular Therapeutics.
its still to young for chart analysis . Wont tell us more than I already can see but its good to have it up there. The stock has not stopped in 5 days. In a Bit late but this has the makings of a great play.
they are busy I guess
I've been trying, I've requested a chart multiple times, using all my various emails. Some of my pals on iHub have also requested a chart for me as well but alas they have not gotten enough inquiries thus far to add NEWG....it's quite frustrating.
I'm not necessarily a big chartist myself, but I would like to add a chart to the iBox for those that are.
I've had this problem many times in the past, most of the stocks I follow are new tickers, shells, etc that are very much under the radar of most investors.
http://stockcharts.com/support/symbolrequest.html
big brother can you request a chart on stock charts please. This is worthy of some attention
The cannabis products they are developing certainly have a lot of potential but their nano-cyclosporine product, NanoTears, currently on sale in India, could end up being their flagship product. Especially if it is proven to be more effective than Restasis, Restasis generates well over $1 Billion dollars in sales per year.
I'm expecting the strong play to continue for months. Not saying there won't be red days, and maybe even some significant shakes, but I will continue to hold. I trust my due diligence here and I certainly won't be getting scared out of my shares on any dips.
If they can just manage to minimize dilution, I don't see any way this isn't a huge success in the coming months....and years. The potential here is massive but as with all OTC companies controlling dilution is the key. However, I have faith in Dr. Jaikaria, Dr. Patel and Dr. Alam, they all have solid track records and excellent business acumen.
strong play, I bought 1.52
Working on 6 straight green days now. Could see the merger next week, I'd expect the Nevada SOS to be updated first, then probably a PR and/or 8K shortly after.
Jan 20 2017 1.65 0.11 +7.14% 1.50 1.70 597,362
Jan 19 2017 1.54 0.09 +6.21% 1.45 1.61 632,700
Jan 18 2017 1.45 0.25 +20.83% 1.22 1.45 937,728
Jan 17 2017 1.20 0.25 +26.32% 0.93 1.24 679,735
Jan 13 2017 0.95 0.12 +14.46% 0.815 0.95 527,225
Jan 12 2017 0.83 0.005 +0.61% 0.82 0.87 406,014
I'm kind of surprised at the amount of flipping here, seems like there are better stocks to day trade. This should be attracting more position traders and long investors IMO.
This is the current share structure and a guess at what the post merger ss will be. Even if the unrestricted was maxed out, which it isn't, not even close IMO, There would only be 11.6M shares available right now in the float. That is nothing for a cannabis biotech/pharma company, this should fly post merger, so why flip for pennies now...?? Seems short sighted, I don't think the flippers have any idea what this company actually is.
Current share structure
Authorized Shares--300,000,000
Outstanding Shares--47,600,000
Restricted-- 36,000,000
Unrestricted-- 11,600,000
Float--Unknown
After merger (guesstimate)
Authorized Shares--300,000,000
Outstanding Shares-52,000,000
Restricted-- 38,000,000?
Unrestricted-- 14,000,000?
Float--Unknown
Run it up....and shake it down.....wash...rinse and repeat. Be glad when the merger is completed and we start bringing in some actual INVESTORS in this and not just flippers...lol.
I just sit back and watch the games, I'm not a day trader, don't even try to be.
Yes, I saw that 3 months ago, I'm just trying to understand in what world is selling up to $4M in regulated, restricted securities to an accredited investor(s) is a bad thing...??
You do realize that companies go public for the purpose of raising capital to grow their operations..?? Probably more than 90% of all OTC companies can not even secure private placements period, as it's too risky for the investors to tie up large amounts of money, for that long a period of time.
Thats why the majority of OTC companies either A) instantly dilute shareholders by dumping millions of shares on the open market and/or B) enter into death spiral(toxic) convertible debentures, that convert to millions and millions of shares very quickly and at very low prices.
So the fact that NewGen is locking up long term private placement financing, to get the working capital they need, is fantastic IMO, it means no instant dilution..!!
So I'll worry about those, up to 4M shares, of 'possible' dilution a year from now, if and when it happens.
Item 1.01 Entry into a Material Definitive Agreement
On January 10, 2017, NewGen Biopharma Corp., a Nevada corporation (“Parent”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with NewGen Merger Sub Inc., a New Jersey corporation (“Acquisition Corp.”), and NewGen Biopharma Corporation, a New Jersey corporation (the “Company”). Pursuant to the Merger Agreement, Acquisition Corp. will merge with and into the Company (the “Merger”), with the Company surviving the Merger as a wholly-owned subsidiary of Parent upon the terms and subject to the conditions set forth in the Merger Agreement.
As set forth in the Merger Agreement, each share of common stock, no par value per share, of Acquisition Corp. that is outstanding immediately prior to the effective date of the Merger (the “Effective Date”) shall, by virtue of the Merger and without any action on the part of the holder thereof, be converted into the right to receive one (1) share of common stock, no par value per share, of the Company, so that at the Effective Date, Parent will be the holder of all of the issued and outstanding shares of the Company.
Immediately following the Effective Date, there will be no more than 52,000,000 shares of Parent’s common stock issued and outstanding, which shall consist of (i) 10,000,000 shares of Parent’s common stock issued and outstanding immediately prior to the Effective Date, (ii) an aggregate of 40,000,000 shares of Parent’s common stock issued to the stockholders of the Company, and (iii) $2,000,000 shares of the Parent’s common stock which may be issued and outstanding pursuant to the Private Placement (as defined below), excluding any shares of common stock issuable under outstanding warrants.
Pursuant to the terms of the Merger Agreement, Parent may issue and sell up to a maximum of $2,000,000 of its Units in a private offering at $1.00 per Unit with each “Unit” consisting of (i) one share of Parent’s common stock and (ii) a warrant to purchase one share of Parent’s common stock at $1.00 per share (the “Private Placement”). The proceeds of the Private Placement shall be used for the purpose of financing the Company’s ongoing business and operations.
The 2M in private placements and warrants @ $1 will be restricted securities, those do not concern me in the slightest.
In fact private placements are the right the way to go, most OTC companies issue toxic convertible promissory notes, to raise capital, because they can't find anyone to do private placements, it's too risky for the investors.
Volume has increased exponentially every day since this started trading.
01/18/2017-- 937,728
01/17/2017-- 679,735
01/13/2017-- 527,225
01/12/2017-- 406,014
01/11/2017-- 340,513
01/10/2017-- 242,024
01/09/2017-- 108,115
01/06/2017-- 15,250
The filed merge 10-Q says: the company will sell 2000 000 units of shares at $1.00. Not sure this uptrend will last ??? days?
Nice close, didn't quite hit the 1M volume mark but came darn close.
Again one of the top advancers on the OTC over $1 today.
NEWG 1.45 +20.83% $1,252,536 937,728 volume 619 trades
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