Replies to post #82610 on Ngen Technologies Holdings Corp. (fka NGRP)

[horst]

I won't say anything about the company, but I think this stock has a future that's likely to be well above .0003. Of interest, the proxy statement is dated Nov. 18th, 2019. So the R/S can't be said to be effective yet.

"This notice and the accompanying Information Statement are being mailed to our holders of Common Stock and Series X Preferred Stock of record as of November 4, 2019 on or about November 18, 2019. This notice and the accompanying Information Statement shall constitute notice to you of the action by written consent in accordance with Rule 14c-2 promulgated under the Exchange Act and in accordance with Nevada law and our bylaws."

and

"The Corporate Actions will become effective upon the later of (i) the filing of the Amendment with the Secretary of State of the State of Nevada regarding the Corporate Actions, (ii) approval of the Corporate Actions by the Financial Industry Regulatory Authority (“FINRA”), and (iii) the 20th calendar day after the date on which this Information Statement and the accompanying notice are mailed to our stockholders. We expect the Corporate Actions to be effective on or about December 9, 2019 (the “Effective Date”)."

Taken together, this leaves plenty of time, more than a month, for them to reverse course on the R/S, or lower it to a more reasonable ratio. Either of those would send the stock on a run.

IMO, if they're scammers as some suggest, why would they have needlessly announced this R/S way far in advance in the first place? If they're bad actors, there's no benefit to tanking the stock unless they and their buddies have been loading cheap (up to just below the point that they'd need to file as beneficial shareholders), and they intend to run it right back up and make a freaking fortune. The best way to do that would be to announce/tank pps/load/cancel the reverse split or drastically change it to more-favorable terms. I think that's what's likely to happen... if indeed they're scammers as some suggest.

Or if somehow Ngen is legit, then of course (just as in the other scenario) they don't care about legacy shareholders at all. But they'd also benefit from a higher pps before the reverse split. And post split, they'd benefit from keeping the stock price up, which is fairly easy to do for a time with a low float.

In either case, there's no benefit to tanking the pps for very long. I'm keeping an eye on the volume traded since it hit 0002-0004. I think once the float has been flushed, something is likely to happen.

Forgive me, I'm just trying to work through the psychology here, and in either of the above scenarios, IMHO, a run is likely enough to have a few million shares.

I'd sworn off buying stock of this nature, but I'd been following this one since discovering it way back when as a shell for sale, and this one still has enough potentially moving parts that something fun could happen.

GLTA