Anastas Gegov

Notis Global Inc (OTCMKTS:NGBL) Threatens To Drop In Triple Zero Land

by Anastas Gegov June 9, 2016

Notis Global Inc (OTCMKTS:NGBL, NGBL message board) has had a rough time in the charts. We have covered the company extensively since it was called Medbox Inc and was trading under the ticker symbol MDBX. Back in February this year the company decided to refurbish its image by changing its name and symbol.

 

Unfortunately, the fundamentals haven’t gotten better and this is the exact reason for which NGBL just keeps running down the charts. As we wrote in our previous article, there are plenty of red flags surrounding the company, ranging from trouble with the Securities Exchange Commission over misstated revenue figures to massive dilution. The balance sheet of the NGBL doesn’t help either.

 

  • cash: $68 thousand
  • current assets: $627 thousand
  • current liabilities: $29.35 million
  • quarterly revenues: $252 thousand
  • loss from operations: $3.85 million

 

The last time we wrote about NGBL was back in March when we commented the increase of its authorized shares voted for in October 2015. The AS count increased from 100 million to 400 million and was filled in fairly quickly and NGBL needed another increase. This time the company management was aiming sky-high.

 

A board meeting on April 15 of this year approved an increase in the authorized share count to 10 BILLION, leaving NGBL with room for massive dilution. Although the company’s fully diluted basis stood at over 1.6 BILLION after note conversion alone we see that NGBL hasn’t stopped gaining debt along the way.

 

This is exactly why it’s no surprise that NGBL is threatening to enter triple-zero territory. The latest session pushed the ticker 13.33% down and we saw it close at $0.001 yesterday. A total of 77.26 million shares changed their owners and generated $115 thousand in daily dollar volume.

 

NGBL is doing a bit better in today’s trading, but that doesn’t mean that you should skip doing your due diligence and weighing out the risks before putting any money on the line.

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