Wow! 4,950,000 shares is around $60,000 in NERG only worth around $5,000 now. I only have around 200,000 shares with an average of $0.003 per share. Still not the best, but I am planning on just keeping it until it makes me thousands of dollars if I wanted to sell it or it goes bust. However, I will buy 200,000 more shares if it goes down to $0.0003 cents like some on this board have said. I am learning alot by reading the posts. I just like what the company says they do. However, I would like to hope that they are on the level and not just purposely pumping it up so that they can dump their shares at a higher price.
I am no expert, but it is my understanding that it will rebound and could do very well if the company actually does the things it says it wants to do. It may not do them within the next 5 years even. However, if they truly are getting up to 7,000 more wells to be operational without pumping water, then profits could come quickly and they could do some of the following that they said they plan to do:
1. Share buyback
2. Get 2 year complete audit by a reputable firm
3. Reverse split in order to uplist to the Nasdaq (one press release said that they want to uplist to the Nasdaq because it is not as subject to manipulation. That tells me that alot of manipulation of their stock is going on right now.)
I could definitely see that several people bought the $0.0005 and $0.0006 shares and will dump those shares at $0.0007 and $0.0008 in order to make a quick 25% to 50% return on their money thus bringing the price back down again. However, I don't know if that is really the case.
Good luck. I personally wouldn't expect the stock to be worth more than you paid for it for several years, but I hope I am wrong.
