NewGen BioPharma Corp. (NEWG)

[Big Brother]

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.