I am not here to hype that this sub-penny at the moment is a “hurricane Irma” play, or anything, but penny stock investors LOVE sub-pennies and I want to share the research I found out on this recent “reverse merger”. Based in Georgia (southern east coast), if the hurricane causes significant damage, there will be plenty of waste and things to recycle. I mean… it can’t hurt business.
So, I had the pleasure of speaking with Max Khan (investor relations @ 646-889-3947) to get more information and clarification on the reverse merger. Here is what I found out.
The stock is currently trading at .0001/.0002 and will have an outstanding share count of 100 BILLION shares. 85 BILLION of that are restricted and were given to DEEP GREEN. Approximately 1.67 BILLION are OLD shareholders of record and 13.3 BILLION were given to a NOTE HOLDER to take care of a $200,000 debt. I was told the note holder is friendly and wants to see the company do well, but they do have the ability to sell shares at will unfortunately.
Ok, the good stuff is DEEP GREEN is said to have 10-11 million in organic revenues this year. Revenues have grown 50% a year the last 2 years, so GROWTH is happening. They are looking to acquire more waste related companies in the near future to continue their growth strategy. The company currently has 19 full time employees and has an A+ rating from the Better Business Bureau.
Paperwork has been filed with FINRA for a name and ticker change. DEEP GREEN is also in the midst of doing a 1000:1 REVERSE SPLIT that will all be reflected in the next 2-14 days.
What we do:
~ we are not motivated to run trucks unnecessarily and…
Disclaimer:/Disclosure: PSInvestor does NOT hold a position in the company at this moment nor were we compensated to write this article or publicize this information.