Becoming Nextgen Cannabis Consulting, LLC was a surefire way to get some much needed attention to the penny stock of Next Generation Energy Corp. (NGMC). When the independent oil and natural gas company reported $394 worth of royalty income for the 3 months ended September 30, 2013, it was no surprise that NGMC stock had the pulse of a corpse until they mentioned marijuana as their redirection of what little resources they had. Now that they’ve peaked and can’t seem to break past .06 without a gap open, their LOI to get a 20% interest in Greens R US, Inc., an L.A. based dispensary, can they still dump the rest of the .003 shares?
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NGMC Stock Quote
Market Cap: 9.89M
Last: 0.0433 ▲ +0.0033 (+8.25%)
Dollar Volume: $61,601
Issued and Outstanding: 228,346,094
14-Day Rel Strength: 52.32%
1st Resistance Point: 0.0475
1st Support Level: 0.0395
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Like 90% of the other marijuana stocks on the OTC market, Next Generation Energy saw to it that the surge of stupidity that was pouring into any defunct or worthless company would not be a wasted opportunity on their parts. Getting Joel Sens to resign as an CEO was the first step since a fresh face, Darryl Reed, was going to be required to pull of the charade that they really were going to go “green.”
As soon as the word got out that NGMC was now a marijuana stock, dumb money flowed into it so fast that the shares hit 0.129 before closing at 0.037, a loss of -71.32% for those that chased the hype at it’s peak. Little did they know that Actual Investments, LLC, one of he convertible debt holders of Next Generation Energy converted $30,000 they owed into 10,000,000 shares of NGMC stock at a cost basis of 0.003 per share.
Since the March 7 announcement that the Company was going o concentrate on the medical marijuana industry, shares of NGMC stock have fluttered between 0.032 and 0.0867 which was only achieved thanks to an awareness campaign similar to today’s, just with a better group. Since then, NGMC stock has traded higher than it did 3 months ago, but the pulse has been less than an adrenaline rush like most cheap weed stocks have experienced.
Their announcement from the end of March whereby they entered into a LOI to acquire 20% of Greens R US, Inc., a private company that operates a medical marijuana dispensary in Los Angeles, is due to be completed on April 30. How they intend to pay for that 20% interest is going to be tricky having had just $632 n cash as of September 30, 2013, but then again, the late filing of their 10-K is sure to buy them enough time to dump more shares from Actual Investments, LLC convertible notes making Nicco Reggente a hefty profit thanks to some bad investors.
About NGMC Stock
Next Generation Energy Corporation, through its newly created, wholly owned subsidiary, Nextgen Cannabis Consulting, LLC, is a development stage company that has recently redirected resources to focus its core business on the fast growing medical marijuana industry.
Click here to view the SEC filings for NGMC.
Click here to view the website for Next Generation Energy.
Last 5 Trading Sessions:
There is sure to be a gap open on NGMC thanks to penny stock alerts issued over the weekend. With metallic taste left in many traders’ mouths from last weeks sell off on marijuana stocks, NGMC stock looks to fill the gap and end the session somewhere in the .04’s as if today never even happened.
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