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Back to back 10Qs. Current to Dec15.
Absolutely no reason to sell now, IMO.
Relax. Lol.
As the AS-capital is based on par value and not pps, the AS-capital and number of AS remains unaffected by the RS. The key phrase from below references is "Our authorized share capital will remain unchanged."
8K dated 7/9/2915:
On July 9, 2015, our Board of Directors approved an amendment (the “Amendment”) to our Articles of Incorporation to increase the authorized number of shares of our common stock from 2,000,000,000 shares of common stock, par value $0.001 to 10,000,000,000 shares of common stock, par value of $0.001 per share.
8K dated 9/30/2015:
On July 13, 2015, our board of directors approved a reverse stock split of our issued and outstanding shares of common stock on a basis of 200 old shares of common stock for one (1) new share of common stock. A majority of our Stockholders approved the reverse stock split on July 13, 2015. Upon effect of the reverse stock split our issued and outstanding shares will decrease from 1,930,392,180 to 9,651,961 shares of common stock, with a par value of $0.001. Our authorized share capital will remain unchanged.
The reverse stock split has been reviewed
Is the AS 10B or 50M?
L2 looks great. Thin ask. Means investors expecting good PR soon.
Dumping? I don't think so. Only 60 million traded so far. Just flippers who got in @ 0.0003
You've said this a million times already. WE KNOW!!
May hit 0.002 tomorrow.
Go $FRGY!!
Yes, thanks for the reminder :[
There's virtually no resistance. This good keep climbing all week.
I know the water purification unit can be used to extract minerals and other deposits such as lithium, but not sure if they can extract enough to market the unit solely for lithium production. The main function is water purification and steam-powered electrical generators, not lithium extraction. I'm sorry, but most investors on this board just don't buy the tesla argument anymore. Not saying that that's a bad thing. I think the water industry is bigger than the lithium industry.
Nice!!
Go $FRGY
Yep. Bids having hard time keeping up, lol.
7s up and dry
Ask drying up quickly. Expecting some good news soon.
Something big's brewing in the background.
Nice recovery. Up 66% already.
Waiting for the "detailed update"
That's when I'll buy
Apparently, it's all legal. Alex is the sole Board member, so he can do what the hell he wants.
An RS may be good news to some. The technology may be a scam, but there's no denying the fact that $LEXG had an amazing run after the 1:200 RS. It went from 0.0002 pre-RS to 0.040 post-RS to 0.40 couple weeks later and as high as 0.60. That's 1400%!! Nobody knows what caused that run. There was no good news or positive PR prior to the run. It just happened. And, it can happen again anytime.
As you can see below, the announcements were made after the decision.
Summary of 1:200 Reverse Stock Split of Q4'15:
From 8K dated July 15, 2015:
On July 13, 2015 our board of directors and the holders of a majority of our voting securities approved by written consent an amendment to our articles of incorporation to increase the authorized number of shares of our common stock from 5,000,000,000 shares to 10,000,000,000 shares, par value of $0.001 per share.
The approval of the shareholders was obtained without a meeting in accordance with section 78.320 of the Nevada Revised Statutes. The shareholders also authorized our board of directors to effect, by July 13, 2016, at the discretion of the Board, a reverse stock split of our issued and outstanding shares of common stock on the basis of up to 200 old shares for 1 new share.
From Proxy Statement 14C dated July 22, 2015:
Our Board of Directors (sole director) approved the Amendment and the Reverse Stock Split on July 9, 2015.
On July 13, 2015, subsequent to the approval by our Board of Directors of the Amendment and the Reverse Stock Split, the holder of the majority of the outstanding shares of our corporation entitled to vote gave us written consent for the Amendment and the Reverse Stock Split.
From 8K dated September 30, 2015:
The reverse split will become effective with the Over-the-Counter Bulletin Board at the opening of trading on September 30, 2015 under the symbol “LEXGD”. The "D" will be placed on our ticker symbol for 20 business days.
It's publicly announced after a decision/vote by board members. I guess only Alex sits on the board. I've seen at least two RS where this was the case.
L2 shows 306mil on the ask
The ask volume just went up to 300mil from 70mil. Guess nobody noticed.
I won't be surprised if the next big announcement is that LEXG abandons SONCAV and decides to pursue other interests. I hope not.
That's the business model of most penny stocks. Lol. Their business is funded by delays and broken promises, but the technology is real.
They used to be in the business of lithium exploration. They'll probably change their name once testing is complete and ready to market.
Now they are involved with Soncav that is testing an ultrasonic steam generator using a proprietary cavitation process. LEXG only owns the rights for distribution in Canada.
There's two kinds of units: a water unit and an oil unit. The water unit is solely used to produce steam for the purpose of removing contaminants/minerals and purifying water. The oil unit is simply the water unit coupled with a turbine and generator. The main advantages are efficiency and portability. This could be used in the field to power a fractional distillation process (upgrading crude oil). The oil unit itself has nothing to do with the distillation process, but simply drives it.
A/S 50,000,000 (post R/S)
O/S 11,669,869 (as of March 22, 2016)
This ain't a lithium stock
That's good news. 10k out soon.
So basically, the company has parted ways with Corpaycar (CPC) and its combo hitter, and is focused on rebranding itself as Global Fitness Corp.
All we need now is confirmation of the acquisition of three fitness training centers and the establishment of the Nutrastax division. Then the stock will climb.
Go GLDG!!
Yep, it's long overdue. Their last YouTube testing update video was 8 months ago.
I've seen stocks run up 200-300% before and after reverse stock splits, so nothing to worry here. Grab the 1s before they disappear.
Time to wake up this sleeping giant..
Bright future ahead. 77 mil going to go fast.
Can't get cheaper than this. Will disappear fast.
from the 10K...
The Company believes that the planned acquisition and establishment of the NUTRASTAX™ Fitness Supplement Division, as key steps in creating and integrating a platform of complementary fitness industry businesses.
The Company continues to explore additional opportunities in the fitness industry which it believes it can implement during the balance of fiscal 2016 and 2017, together with refinement of the Company’s capital structure.
Annual Report (10-k) out