They've got $27 million in cold, hard cash....and ZERO debt on their balance sheet...no toxic debt and no notes owed, etc and lots of assets....it's a very healthy balance sheet....
It's micro float of only about 30 million shares max..(total of only 39 mil shares outstanding) ..
They appealed a NYSE ruling that de-listed them to the OTC and they won that appeal and will be UP-LISTING BACK TO THE NYSE America no later than tomorrow...
IGCC stock ran as high as $14 bucks a share late last year of 2018....
They have an old core "heavy equipment and construction biz" in India that is very profitable and throws off decent revenues of almost $2 mil a qtr and they're using that to fund research and product development out of the U.S. (Maryland) for a range of CBD (hemp oil) products - that are pretty well along in clinical trials....
It's a real biz with cash and a real balance sheet....
This thing can run a long way IMO by hitting the AMEX tomorrow....on this micro float....was sort of under the radar so far....
IGCC just blew through $3 bucks this AM and is still running like a bat out of hell...
PR QUOTE:
"IGC Announces Successful Appeal of Delisting Proceedings and Imminent Relisting on NYSE American BETHESDA, MD. February 21, 2019 / India Globalization Capital, Inc. (NYSE American:
IGC; PINK: IGCC) announced today that it has successfully challenged NYSE American’s decision to delist the common stock of the Company from trading on the Exchange under the Exchange’s appeal procedures.
In a written decision issued on February 20, 2019, a review panel of the Exchange unanimously ruled to set aside the Exchange’s October 29, 2018 decision to delist the Company’s common stock, finding that the Company has not discontinued the business it conducted at the time it was first listed on the Exchange.
In addition, the panel unanimously found that the Company provided evidence sufficient to rebut the Exchange’s claim that the Company or its management had engaged in conduct contrary to the public interest.
The Company’s common stock is expected to be relisted for trading on NYSE American under ticker symbol “IGC” no later than Tuesday, February 26, 2019.
“We are very pleased that the Exchange procedures allowed us the opportunity to challenge the decision to delist and to present our case to a review panel. We are happy with the result, and we believe the decision accurately shows our efforts to continue and expand our operations within our two existing business lines: our infrastructure business operating primarily in Asia; and our legal medical cannabis business/industrial hemp in the United States and elsewhere,”stated Ram Mukunda, CEO.
About IGC: IGC has two lines of business: infrastructure and hemp-derived medical cannabis//industrial hemp. The company is based in Maryland, U.S.A. Our website: www.igcinc.us.Twitter @IGCIR "
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