StemGen, Inc. (SGNI)

[adijas]

8k out, change of control

On June 27, 2017, our Board of Directors elected Nachu Anbil and Gaurav Harza as directors of the Company. Mr. Harza was also appointed as president, chief executive officer, secretary, treasurer, and chief accounting officer of the Company.

Nachu Anbil has over 25 years of experience as Team Lead, Systems Analyst, and Developer of Large Scale Systems. He is the President and CEO of an IT staffing company that achieves an annual growth of 40%. Mr. Anbil holds a Bachelor of Science in Science, a Bachelor of Science in Law, a Master of Science in Business Administration, and a Master of Science in Information Systems.

Gaurav Harza is the co-founder and director of strategy and sales of Insight Lifecycle Software & Consulting (P) Ltd., a New Delhi company.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12332856


First new ceo Gaurav Hazra https://www.linkedin.com/in/gauravhazra/ He is co founder of Insight PLM Consulting http://www.insightplm.com/index.html
Company was in 2014 chosen as 1 of 50 cool startups in India
http://www.insightplm.com/assets/img/india-edition_july_14_issue.pdf see p. 42
'Insight PLM envisions to be recognized as a thought leader among its core market globally and grow 10 fold in the next three years. The company has recently formed its subsidiary in Dubai to have direct presence & drive the GCC and African market. It is preparing itself for take-off and potential equity infusion in order to drive exponential growth and get to the next level.'

So in 2014 they said they wanted to grow to the next level within 3 years.


Now look at the other director Nachu Anbil. The company mentioned in the 8k is Nutech systems https://www.linkedin.com/in/nachu-anbil-23686510/

Headquarters
ERP Staffing Consulting and Training
https://www.linkedin.com/company/105831/

However, the website http://www.nutech-inc.com/ is 'temporarily unavailable'.

So now the million dollar question. Are both directors resigning from their current position and will they start a new company? There are no indications for that (according to Insight website and LinkedIn). Interesting is that it looks like Anbil wanted to go public before. He listed People and Systems Inc 2 years ago on NVSOS, and the adress changed a year ago to the same adress as NuTech. The company has an AS of 500 million and designated convertible preferred stock last year. http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=WM68YNxRUpdAj3qBP7rEyg%253d%253d
But besides NVSOS there is nothing to find about People & Systems and Anbil doesn't mention it on his LinkedIn page. So my wild guess is he wanted Nutech to go public with a name change to People & Systems, but it failed.

So most probable is that both companies are merging or that NuTech is acquired by Insight. And that now the company is going public, as part of the next level.

Two other interesting things.
First, according to the 8k in April they switched accountants. Their new accountant is LBB & Associates, who happens to be specialised in reverse mergers http://www.lbbcpa.com/reverse-merger-transactions.php
And second: the change of control happened in June, they waited 4 months to deliver the 8k! I assume thats because they wanted to set up all things first, so now we'll see this reverse merger developing fast.