We questioned that as well about the cash dividend. What we were told and confirmed by FINRA and GNGR is that GNGR would have had to issue the dividend to existing certificate holders as well as those shares held in the DTC float.
Since the CEO and two others held most of the issued shares, most of the dividend would have been issued to them. Based on real data at least 919,000,000 are held by those three with the CEO owning over 700,000,000 alone.
Any cash dividend would have meant that over 90% of those funds would be directed back to the CEO and the associates. FINRA cancelled the approval for the dividend based on that fact it would not help anyone other then the CEO.
I do not recall the amount being issued? I think it was $20,000 or so? This sub penny market is not based on profits, dividends, validity or even compliance. The sub penny market is fueled by hype and sucker investors who buy into schemes only to find how bad the CEO really is after they lost the investment.
They never look into the CEO’s track record before the investment or even look at the stock data, financials, debt and authorized shares. What we do know from doing some marketing for GNGR is the CEO is clean, no issues, no past questionable OTC schemes and additionally they actually make and sell products globally and not sell shares only like most OTC’s do.
GNGR has no debt, they are profitable, the company has a very low float (were trying to buy up) and a solid company platform. Unfortunately those valid great aspects as a fact are useless against a pump and dump that promotes a lithium or gold mine or marijuana stock that is based on excitement and hype not reality.
I have said it again an again to others. A company that has no debt, sales and is profitable cannot have its shares compete with a pump and dump that says they are a lithium mine and may generate $500,000,000.00 in revenue and that Elon Musk may buy them out so get is before it explodes to the moon.
GNGR has proven them selves while others just prove they may or could find lithium or gold that they never do. Buying a valid company that is public with a very low float cheap will put the squeeze on brokers when things turn around. Owning 38% of the float of any valid proven public company at these low prices is unheard of.
The fact GNGR is not of interest to retailers who want too continue to lose money on hyped exciting stocks will one day say the same about GNGR like they did about Amazon when it was $2.00 per share. They always say they would have invested but only when they see it took off and was the one winner that may have slipped through there mounting check book losses.
We play the game to win and winning is what we do. We short stocks that are set up to drop in price. GNGR can’t be shorted, they have not enough shares to cause a diluted mess like set up schemes that put huge debt and huge authorized on the books of the ticker before the pump.
Whey these small players even bother with GNGR is a question I do not know the answer to. I do know that the drop in GNGR’s share price was not done by manipulation, fraud, a pump diluted debt scheme or any other questionable event other then people just think GNGR is boring and brokers cant rally the shares to liquidity because there are not enough to create that liquidity. This allows us to buy the float cheap.
A sub penny stock that people say needs liquidity also means its being diluted. You get your liquidity but you end up with shares at a loss as the liquidity is created by adding more and more debt shares to the float.
If GNGR was very liquid, they would have many more shares in the float and selling debt and diluting the company to $.000001 like the other ticker we tried to buy. This is not a play to buy shares and have the go up. It’s a play for professionals who know doing things other ways will cause the shares value to be increased by actions and compliance not news and hype or even profits and validity.
Time will tell and I hate to say it but this is not a stock for retailers, they just don’t have the money or insight to understand how this market works.
