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By Boyan Angelov
Oct 07, 2014

NuState Energy Holdings, Inc. (NSEH) Fails To Complete Pending Deal On Time

NuState Energy Holdings, Inc. (NSEH) was scheduled to complete negotiations on the sale of a majority interest in the company yesterday. NSEH filed an 8-K with the SEC on October 1, disclosing that the company plans on restructuring its existing agreement with C.K. Williams, Jr. The agreement, which was entered into in August, was for 2 billion shares of common stock and a majority stake in NSEH for the price of $1 million.

A previous 8-K report from September 18 announced the consent of a majority of the company's investors to increase the amount of common stock shares of NSEH by 2 billion for the purpose of completing this agreement. It seemed the plans would be put into fruition, after the company followed up with a precise date for the completion of the pending deal and took the necessary steps to carry it out.NSEH_chart.png

On Friday, a schedule 14C was filed with the SEC, announcing the company has commenced the planned increase of its share count by 2 billion, bringing the total amount from 1.75 billion to 3.75 billion common stock shares. NSEH got investors really excited with this deal, as the ticker spiked, doubling its price in just a couple of sessions at the end of last week. The company closed the week at $0.0024 with a 71.43% price increase on a volume of over 204 million shares trading hands and a trade value of $448.14 thousand.

It seemed the penny stock had the chance to get back on the right track after a robust period of obscurity. However, the negotiation scheduled to complete yesterday has not been addressed as of yet. Surely, a public company would not miss out on the opportunity of reporting a timely deal on the very same day. At this point, we have no input on how negotiations went and whether or not NSEH expects to eventually lead this deal through.

The company has indeed had, and continues to have, issues with handling its tasks and official documentation. NSEH's latest financial disclosure is the 10-Q for the period ended March 31, 2013. The company has yet to file its annual report for last year, while it should have submitted its annual disclosure for this fiscal year by now. For this reason, NSEH is currently listed as an OTC Pink Limited Information company.

NSEH_logo.jpgA pink sheet that keeps investors in the dark on its financial disposition is a very risky investment in its own right. Not following through on its scheduled plans or updating on a necessary postponement makes NSEH even more uncertain and unreliable. Investors who may find interest in the company should do their expensive due diligence before deciding to invest any sum in the stock.

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