Next Generation Energy Corp. (PINK:NGMC) stock got absolutely no attention from traders on Friday, but that may abruptly change today. There is big news coming out on Friday evening, and more importantly, there is a new promotional campaign starting out on Saturday.
Friday’s closing price for NGMC was $0.23 for a share, though according to the data no trading whatsoever took place, thus the trading volume was 0. In fact, such a quiet trading session is not a rare event for NGMC recently. The current share price is far below the recent highs, and NGMC appears to have a downtrend in the last several months. Though, the combined effect of news and promotions might actually make NGMC “go through the roof” again, as the promoter says.
Next Generation Energy latest financial report shows it has zero current assets, zero revenue and over $2 million liabilities for the first quarter of the year. On Friday, the company announced it has entered into an agreement to purchase a new oil and gas property in a region famous for its large reserves: 7,715 acres of natural gas and oil rights in Devonian Shale region of South Eastern Kentucky. According to the press release, the new property has the potential to generate $55 million in revenues.
Such a projection should always be taken with extreme caution, but what looks promising for a new NGMC jump in price and volume today are the new promotional e-mail that came into our database over the weekend. They distribute the latest news and, of course, promise huge profits for “early investors”. The compensation for the company’s promoter is 450,000 shares of NGMC, which means that those shares might be sold on the market in case the demand, and respectively the share price, for the stock increase.
