Nano Magic Inc. (NMGX)

[callmeacab]

10-Q for Q3 2021 is out. Nothing terribly exciting. Revenues are lower because of relatively high lens care (anti-fog) sales in 2020 due to masking. I'm more disappointed of the lower level of services (the part of nano that I originally bought into) with no further discussion.

For positives, their cash position is solid partially as a result of funding from stock sales, although they seem to have a continuing issue with high accounts receivables (which they are selling at a discount to a 3rd party I presume to raise cash). Also interesting is the the high level of stock options being granted to the Bermans at a $0.75 strike (in lieu of cash compensation?) I consider both stock/option items a positive because it means 1) stock sales are an important funding too; and 2) the Bermans have skin in the game. Both 1) and 2) suggest there will continue to be a push to get the stock back into mainstream markets. The big question at this point is "how" since I did not see it discussed in the 10-Q.

All this is based on a quick read, so there may be more information to gleem on a detailed read.