Register
Pink Sheets Markets Today:
Aug 22, 2016 total dollar volume
$315,836,217
Author:
By Annette Thatcher
Nov 26, 2014

B Green Innovations, Inc. (BGNN) Corrects On High Volume

B Green Innovations, Inc. (BGNN) was the target of paid promotions in the past few days starting on Friday. BGNN stock went up in price on Monday on a higher than usual volume, but went on to correct yesterday on a record volume of 713,988 shares trading hands. The ticker has not been among the more heavily traded stocks in the past. Paid pump emails are not well regarded as a means for a stock to go up, as the aftermath usually has consequences in the long run.B Green Innovations, Inc. stock chart

The promoters who are responsible for the distribution of the pump emails include The Lotto Pick, Nathan Gold, Penny Stock Prophet, The MarketCaliber Team, and Buzz Stock, among others. The promotions were for compensation varying between $2 thousand and $20 thousand. The paying parties involved were initially Microcap Innovations and Penny Stock Egghead, with Galaxy LLC also joining on the financing of BGNN stock promotion on November 24.

Amid the recent promotion activity, B Green Innovations disclosed plans of expanding its product offering “by means of joint ventures and acquisitions”. There is no input to date as to who the company plans on working in relations with or which firms are on the radar for BGNN to acquire.

For a more in depth look into the company, investors can consult BGNN's financial disclosure for the quarter ended September 30, 2014:

  • Cash: $84.1 thousand
  • Total current assets: $98.9 thousand
  • Total current liabilities: $994.8 thousand
  • Revenues: $24.1 thousand
  • Net loss: $99.3 thousand

The company has made a modest amount of revenues, to say the least. The venture's asset base is rather exiguous, with an alarming asset to liability ratio. BGNN has been incurring a net loss in consecutive periods for a while.

The company recently made a reverse stock split on its common stock at a ratio of 1 to 10,000. The split took effect on September 26. In the last quarter of the current fiscal year, BGNN has already issued 100 million shares of class A common stock for services. The company has issued 10 million shares of class A common stock under debt conversion to Neoventive LLC.

BGNNOn October 3, the company was informed that a portion of the unpaid principal and accrued interest on one of its promissory notes has been assigned to Neoventive LLC. The conversion rights give the holder the right to convert amounts into shares of BGNN class A common stock at a price of $0.0001 per share.

The changes which have recently taken place in the company's share structure make BGNN stock a risky investment which should be pursued only after doing thorough due diligence on the company.

Average Reader Price Target For BGNN:

Going Down!
0.2325

What price do you think this stock will go to?

Reader Valuation Chart

Article Comments:


Comment: