Ngen Technologies Holdings Corp. (fka NGRP)

[Divest]

I think that the chances for success here are greater than most traders think, and that is good thing for savvy traders. My reasons for believing this are as follows.

1. Brian Conway is a salesman, not a visionary and not a con artist.

I have spent quite a bit of time reviewing the old posts from past years and I've decided that Brian was neither the horrible conman that some assert he was, nor the innocent victim that he claims to be, but his current explanation of events back then seems to be mostly accurate. Fear and lack of imagination prevented him from being straight forward with investors back then about how bad the situation was, and it seems similar fears are what prevented him from admitting that he was planning to use dilution to pay off the last note if he couldn't get the deals done in time.

Like many good salesman I know, Conway has a 'flexible' relationship with the truth, especially when talking about debt. This flexibility (tendency to hide facts and deceive usually without directly lying) is not an asset, it is a personality flaw, that hurts both his personal, and the company's credibility. That said his past failures do seem to fit a pattern of a harsh learning curve, as opposed to out right lies or an attempt to take advantage of others. This is because he has not been a visionary business man, my DD suggests that he really was swindled by Ecocab, and Pringle really did hide debt from him. That isn't to excuse how badly he bungled those situations, if he was more adept at negotiations, or better at due diligence, like a CEO should be, he would not have been so easily taken advantage of. But the facts show that he wasn't competent at the time, so real con artists took advantage of him. Then rather than admit that he was taken advantage of due to incompetence he tried to spin those failures in a positive light but couldn't continue do that once the bills came due. So his lack of candor, and the criminal actions of others ended up hurting a lot of people who were invested here back then (I wasn't here until January). Some posters have asked what made a pr man qualified to be CEO? I think his track record speaks for itself; He was not qualified to be CEO back then, just eager to be one. After a few years of expensive (for investors) on the job training we get to my second point...

2. He actually has become better at his job with time.

Unlike Ecocab, none the current deals that are underway are actual scams. It is also obvious with a little DD that a merger between LIBE and Sterling would be mutually beneficial to both parties. If we accept the logical idea that voluntary business agreements are all providing a way for the selfish interests of all parties to be met, it is reasonable to believe that the Sterling deal will happen, and soon. The delays only seem bad due to the past history here, and the fact that he put Sterling on the back burner while pursuing AIG. AIG is a real deal but at this time LIBE needs AIG much more than AIG needs LIBE, and that is reflected in their offer. The Playboy club deal is also real, but anyone who has every invested in a company whose prospects are based on large real estate transactions is aware of the fact that those deals can take many months or even years to materialize. Since the deals are real, I expect that we will get good news related to both the Sterling and the Playboy club deals soon. I don't know whether we can get a good deal with AIG, but Sterling and Legends would strengthen this company more than many investors here are willing to imagine. If AIG made a deal with a strong and growing LIBE the terms would be much more favorable for us, than if they make a deal right now, so we will have to wait and see how that flushes out.

Right now right now the only productive things investors can do here is to wait. Depending on one's circumstances one can can hold, add or flip some of their shares for small gains. There are a lot of strong opinions about Conway and this company but I'm only interested in facts. The facts about the why the Sterling deal should happen soon are listed in the IHUB posts below.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=141955453

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142058240

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=141848155

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142293123