Replies to post #79744 on Ngen Technologies Holdings Corp. (fka NGRP)

[Magnum7419]

We did and Samsung has a contract with Ngen it was an attachment to the Super 8k

[benhor]

We did and Samsung has a contract with Ngen it was an attachment to the Super 8k

[Magnum7419]

10.1 OEM Agreement dated January 25, 2018 between Samsung Industry Co., Ltd. and Ngen Technologies USA Corp.*

https://ih.advfn.com/stock-market/USOTC/liberated-energy-inc-LIBE/stock-news/80738729/current-report-filing-8-k

[Magnum7419]

"4.3 To initiate the terms of this OEM Agreement, Ngen Technologies shall remit advance payment of$9,000,000 USD to Samsung for equipment and parts as defined hereto and to the Samsung bank account identified in the annex of this Agreement. It is agreed by both parties that the ownership of the equipment shall be reserved by “NGEN”, and in case of “NGEN’s” request for its return, “Samsung” shall return it without delay."

[Magnum7419]

4.5 The payment shall include parts and labour for a total of 150,000 units, paid in advance. Samsung agrees to ship finished products every 90 days and in accordance with the schedule outlined in this agreement.

[Magnum7419]

Article 17. Payment
17.1 “Samsung” shall bill “NGEN” for this Product, which passes the receiving inspection set forth in Article 11, by the end of each month, and “NGEN” shall deposit the price of this Product into the account of a bank designated by “Samsung” by the end of the next month.

[Magnum7419]

Article 22. Confidentiality

22.1 “NGEN” and “Samsung” shall not disclose to third parties confidential information on the other party’s technology or business obtained during the performance of this Agreement or individual agreements without the other party’s consent for 5 years after the termination of this Agreement as well as during the term of this Agreement.

[Magnum7419]

Still waiting !!!!!!

https://www.sec.gov/Archives/edgar/data/1503161/000149315219014188/ex10-1.htm

[Magnum7419]

ASSETS
Current assets:
Cash and cash equivalents $ 3,165,851 $ 3,721,784
Accounts receivables 14,890,737 1,057,693
Inventories 5,692,635 1,739,722
Total current assets 23,749,223 6,519,199

Non-current assets:
Property and equipment 4,831,951 5,020,003
Investment 125,289 114,309
Other assets 106,472 107,352
Total non-current assets 5,063,712 5,241,664

Total Assets $ 28,812,935

https://www.sec.gov/Archives/edgar/data/1503161/000149315219014188/ex99-2.htm

[Magnum7419]

Years ended December 31 2019

Net sales $ 92,692,830

https://www.sec.gov/Archives/edgar/data/1503161/000149315219014188/ex99-2.htm

[Magnum7419]

2019
Cash flows from operating activities:
Net income $ 4,726,411

https://www.sec.gov/Archives/edgar/data/1503161/000149315219014188/ex99-2.htm

[Magnum7419]

2019 K
Korea
Net sales $ 7,776,830

https://www.sec.gov/Archives/edgar/data/1503161/000149315219014188/ex99-2.htm see page 11

[Magnum7419]

INVENTORIES, NET


Inventories consisted of the following:



June 30, 2019

Finished goods $ 5,692,635


https://www.sec.gov/Archives/edgar/data/1503161/000149315219014188/ex99-2.htm

[Rich4017]

Big or real company - because you cannot be both. Unbelievable.

[Magnum7419]

Independent Auditors’ Report



To the Board of Directors and Stockholders of

Ngen Technologies USA Corp. and Subsidiary

Dallas, Texas



Opinion on the Consolidated Financial Statements



We have audited the accompanying consolidated balance sheets of Ngen Technologies USA Corp. and subsidiary (the “Company”) as of December 31, 2018 and 2017, and the related consolidated statements of operations, stockholders’ equity, and cash flows for the years then ended. In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial position of the Company as of December 31, 2018 and 2017, and the results of its operations and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America.


https://www.sec.gov/Archives/edgar/data/1503161/000149315219014188/ex99-1.htm#a_006