Scanning through the penny stocks today, we came across a volume spike in Legends Business Group (LGBS) which caught our attention with its recent news. LGBS stock price has risen 385% in a month and could soon find itself on the top traded or top volume list considering the share structure. Considering the news announcement from today and the fact that we’re now at the most important financial event of the decade: when alternative energy costs become cheaper than fossil fuels, whether you like, or don’t like, trading sub penny stocks, take a look at Legends Power.
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LGBS Stock Chart
As of March 31, 2012:
Authorized: 2,000,000,000
Outstanding: 1,234,215,000
Float: 1,234,215,000
Insiders: 1,106,855,000
The exciting news that caused today’s spark was that the Company entered into a LOI. After months of research and negotiations, Legend Business Group is set to acquire the exclusive rights to manufacture and distribute what it believes is the future in battery charging technology. The agreement will allow the Company to attain, manufacture, distribute, and build, in the U.S.A., the ultra-efficient battery charging technology.
Having recently updated themselves on OTCMarkets financially and, as part of the terms of the LOI, the Company has agreed to regain its fully reporting status with the Securities and Exchange Commission by December 31, 2012. Legend reported for the three months ended March 31, 2012 cash of $3,976, with total assets of $476,026. There no revenues as of yet and G&A expenses totaled out to be just $ 26,934. The LOI entered calls for the Company to issue 10 million restricted common shares and a percentage of gross revenue going to the inventor.
About LGBS Stock
Legends Business Group, Inc. is working on testing various sources of alternative and exotic energy products to bring to the world marketplace. The Companies principal products would entail: Solar Power; Wind Power; BioMass Energy; Exotic Energy Sources; and Alternative Energy Grant Writing Services.
Bottom Line: Sub penny stocks may not be everyone’s favorite, but the percentage gains, especially when insiders hold almost 90% of the float. LGBS stock is worth having a closer look at and adding to the list of penny stocks to watch, add the fact that they are getting this deal for restricted shares and this could easily try to touch a penny plus once investors find out about it.
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