Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Reverse split life is kind of boring so far!
Maybe this will spruce it up.
https://www.bloomberg.com/markets/earnings-calendar/us
Says NGEN is reporting earnings today.
I think we lost about half the players here since this has hovered around a buck. Pretty quiet, still waiting on some words one way or the other.
Symbol changes back 21 days after Reverse Split
As part of the standard practice following a reverse split, the "D" was added to the stock symbol for 20 business days to let folks know that there was a recent reverse split.
Trading platforms and stock info boards had to change the symbol so that people could trade and track info.
On Monday, Feb 10, the symbol will revert to LIBE, so things will appear "normal" again for LIBE.
What is the big deal of keeping track of symbol change ? rookie here
Drops "D" on the 10th...not today. Sorry
https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes
LIBE drops the "D" today.
https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes
The number comes from the OTCMarkets website
NGen/LIBE is listed at OTCMarkets. Every month, LIBE's Transfer Agent updates the current share structure, and it's shown at the following link:
https://www.otcmarkets.com/stock/libed/security
I use this data to make the share chart that's posted in the iBox intro.
Immediately following the RS, there were 1,857,638 Outstanding shares.
Per the 8-K filed on Jan 15, the conversion of the Series X preferred stock added 33,855,027 shares, for a total OS of 35,712,665.
Subtracting the Jan 15 OS from the current 36,844,009 shows that 1,131,344 shares were added since Jan 15.
They were likely issued for debt conversion, with the shares being immediately sold into the retail market by the holders of the convertible debt.
Where did you get the updated number of shares from?
Did those shares get added to the total # of the O/S or available shares?
Where exactly did the additional shares come from?
Thank you for all your information, I am hanging on to find out what happens here. I’m terminally curious.
OS now 36.84M shares, up 1.13M since RS
LIBE's TA updated the number of NGEN's outstanding shares as of Jan 31. It's now 36,844,009 shares, up 1.13M since the RS and the conversion of the Preferred shares in mid-January.
That looks bad enough, but factoring out the conversion, that 1.13M increased the immediate post-RS OS of 1.86M by about 61%. Obscurring the relative size of the ongoing dilution could have been another reason for the conversion.
Yup, it's either Friday or Monday.
"D" should be removed from symbol on Friday
I believe that Friday, Feb 7 will be the day that the "D" will be removed from NGEN/LIBE's stock symbol.
We should see the announcement on FINRA's Daily List tomorrow.
It's possible that I could be wrong about the "D" coming off on the 20th business day, and the announcement will come Friday, with the symbol changing on Monday, which is the 21st day.
Conversions at $0.27 means 36.6K shares reduces $10K
It's highly likely that much of the volume this week was due to debt conversion, and while there is hope that the recent reverse split will hold the number of common shares required to a relatively small number, that's probably not going to be the case.
Nearly all of the convertible notes described in LIBED's filings have conversions based on a 45% - 50% discount to the 3-day average of the low trading price over the past 15 - 20 business days.
We saw a burst of selling yesterday, Jan 30, with a 70K afterhours average trade which was likely a debtholder's broker settling with the client.
Looking only at LG Capital Funding's notes, which use a 45% discount on the 3-day avg of the lows over the past biz 15 days, we've got a conversion price of $0.273 = (($0.40 + $0.55 + $0.54)/3 * 0.55).
That conversion price means that $10K of debt reduction would cost shareholders $10,000/$0.0273, or 36.6K shares.
Damn, since the reverse split those that held are down 40%.
IG
I'm hoping the OS doesn't increase more than 7 or 8M shares by the time all debt converts. I've had a bad history with LIBE under Conway. He really screwed over a lot of good people. I'm just afraid he still has his slimy fingers in here somehow. GL
u probably got more time into it than i do- not playing this one now- too many others more equitable in play as far as my methods go. but i always have this one on watch, famous ticker here for the poo-poo runs. GL and hope you scalp it.
IMO it will pressure downward due to oversupply of converted shares. that does not mean there will not be good swing ranges along the way and a very good opp once it bangs bottom.
Over $100,000 in volume in first hour of trading. Price hasn't moved but there is certainly some interest here.
Heading back down to these levels (and possibly lower) was inevitable. NGEN's management is not one to put out a lot of press releases, if at all. Let's see where this stock heads. They still have amazing next generation technology, mufflers that are in all Hyundai cars and great potential. I just think it will be a while and there will be more pps pain. IMHO only...
OTC stocks are usually dead during the weeks following a R/S.
.78 / 2000 = .00039.
No volume. No interest on message board. No PRs from NGen.
Dead stock walking and tanking.
Sounds like a free trial offer to get you to come back!
Dead in here. PPS going down. Little volume.
Glad my 1.4s filled last week. Hasta La Vista!!! Not wishing bad luck on anybody here but stay at your own peril.
Debtholders don't have to file if under 5%
Filings don't lie. No filings for selling shares have been submitted.
I believe it's 20 business days, IG
I think that on the OTC, the "D" remains on the symbol for 20 business days, not calendar days.
For LIBE's last RS in 2016, the "D" was added on 9/8/16 and removed on 10/5/16 which, counting the eighth, was 20 business days.
Depending on whether or not they count this week's MLK holiday as a business day, the "D" should be removed on Feb 6 or 7.
Just asking for proof of your claims. Filings don't lie. No filings for selling shares have been submitted.
Substantial news that can be independently verified - not like the typical BS where they don't provide any details that can be verified.
Pumping news without facts is worthless.
IG
The D lasts 20 days.
IG
Defending a toxic lender that is harming shareholders is very unusual.
Plus, Carebourn and Auctus will add soul crushing dilution to LIBE.
IG
Flat out LIE. Where is the link. Here is the sec filings for the company that you said has dumped.
https://www.sec.gov/cgi-bin/browse-edgar?CIK=0001585346&action=getcompany
LIBED
I sold out of LIBE shortly after the r/s, but this morning I woke up to a single share of LIBED in my account. Does anybody have any idea why this is? TIA.
So there isn't gonna be a complete symbol change? They're keeping the symbol LIBE?
Everyone posting on this board KNOWS that if substantial news hits soon this will EXPLODE!!!
Hmmmm,The only 8k we get to break the silence is management converting their Xshares to common. Still silence while convertible note holders are exercising their right to convert their convertible notes to common shares. The old CEO who owns common shares here comments about if anyone here has figured it out yet like he does know what's going on behind the scenes.Of course taking what he said with a dose of salt so to speak you have to ask your self why is management and convertible note holders acquiring common shares???? I'm seriously wondering if this is the silent accumulation before the STORM!
Can anyone confirm or deny that NGEN Technologies is in Mika3d printer ribbons which are selling on Amazon?
Like Part II of a Form 4...they file for the derivative security underlying the potential conversion.
New to investing. Where is it that you are getting your info. Would be a great help to me thanks.
Here's an old 13G filed by LG CAPITAL FUNDING, LLC for another stock with the same "Consists of Common Stock which the reporting person has the right to acquire by way of conversion of a security."
https://www.sec.gov/Archives/edgar/data/1421665/000147793213004237/lgcapital_sc13g.htm
I have never seen a company file a 13G for stock they might acquire. That seems odd and not required - live and learn.
LG Funding
https://www.manta.com/d/mb0vsqz/lg-funding
Categorized under Working Capital Financing. Our records show it was established in 2013 and incorporated in New York. Current estimates show this company has an annual revenue of 369070 and employs a staff of approximately 3.
Hopefully we get an update when the D is removed next week.
Series X conversion on 1/15, "Event" on 1/16
Your guessing they didn't see the 8k? Hmmmm, that seems unlikely to me... More mystery to this saga, I can't wait until we get some explanation from the company....
Might have been tied to LG Capital lawsuit
I just had a thought that this filing might have something to do with the 2016 lawsuit LG Capital brought against (then) Liberated Energy (LIBE) in the Supreme Court of NY.
According to the SCNY website, the case was discontinued in July, 2019 at the request of both parties, so I think that they came to a settlement.
Maybe this 13G filing is something that LG needed to do as part of the settlement.
As to the future, I don't know what this company is really doing, because there isn't much info out there, other than SEC filings and company press releases.
The company's website isn't much help, as it doesn't show any hard data on the supposed 3-D products, like datasheets, specifications or marketing downloads.
We haven't seen any significant info on 3D TVs from the 2020 CES that shows any NGEN/LIBED involvement.
The NGEN website also doesn't have any hard info on the mufflers that they claim to be selling, other than an old presentation that only shows prototype units.
Nobody has ever shown that Hyundai is actually using these mufflers in their 2018, 2019 or 2020 vehicles.
I figure that one of these days, CEO Carter will put out some news that will spark buying interest, but then the question is: How will the noteholders react to it?
Toxic lenders don't care about speculation etc - they have a floorless convertible note - so they don't care about the price.
Carebourn and Auctus don't care about the penny stock companies or their shareholders - they want volume to dump into.
IG
I have never seen a company file a 13G for stock they might acquire. That seems odd and not required - live and learn.
Nice work DRT!
IG
Followers
|
403
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
86313
|
Created
|
02/08/13
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |