New Generation Consumer Group Inc. (OTCMKTS:NGCG) Slips Despite Product News

[[tagnumber 0]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]][[tagnumber 4]]After a steep decline that pushed the stock of New Generation Consumer Group Inc. (OTCMKTS:NGCG) from over 20 cents per share to below $0.01 in January the ticker stabilized and continued to move in an almost straight line throughout the following months on small volumes.[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 8]] [[tagnumber 0]] [[tagnumber 8]] [[tagnumber 0]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]In the middle of April the management decided to spice things up a bit and informed investors that the company was moving in the cannabis industry. This lead to an immediate reaction and the stock started slowly accelerating to the top on increasing volumes. And why wouldnt it have such a performance. After all, the numbers contained in their annual report for 2014 were pretty decent.[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 20]][[tagnumber 20]][[tagnumber 8]] [[tagnumber 23]] [[tagnumber 24]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]cash: $95 thousand[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 31]] [[tagnumber 24]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]current assets: $512 thousand[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 31]] [[tagnumber 24]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]total liabilities: $205 thousand[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 31]] [[tagnumber 24]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]annual revenues: $913 thousand[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 31]] [[tagnumber 24]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]annual net income: $153 thousand[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 31]] [[tagnumber 24]][[tagnumber 20]][[tagnumber 20]][[tagnumber 31]] [[tagnumber 68]] [[tagnumber 0]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]Although [[tagnumber 73]]NGCG[[tagnumber 74]] has a really small amount of cash on hand we cant pass by the fact that the company is generating some pretty good revenues and has managed to operate at a profit, something that most OTC companies fail to do.[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 20]][[tagnumber 20]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]And while the financial state of the company is not that bad we cant say the same for the share structure. In October 2014 [[tagnumber 73]]NGCG [[tagnumber 74]]performed a 1 for 1,000 reverse split that left the outstanding share count at just 1.6 million. At the end of the year the O/S share count had risen to some 56 million and on February 4, 2015 [[tagnumber 73]]NGCG [[tagnumber 74]]had 484 million shares outstanding.[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 20]][[tagnumber 20]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]Furthermore, we cant ignore the fact that the company stock was pumped by the infamous Stock Mister from the start of its trading days in the beginning of this year. The promotions didnt have an effect on the ticker, but they are still a bad sign. [[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 20]][[tagnumber 20]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]Also, after the good performance of [[tagnumber 73]]NGCG [[tagnumber 74]]that we saw in the second half of April the ticker has been going down since the start of this month. After a 20.14% loss the ticker was sitting at $0.023 at the end of the day and a total of 13.38 million shares changed their owners generating $393 thousand in daily dollar volume.[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 20]][[tagnumber 20]][[tagnumber 8]] [[tagnumber 0]][[tagnumber 1]][[tagnumber 2]][[tagnumber 3]]This all happened after [[tagnumber 73]]NGCG [[tagnumber 74]]announced their new hemp infuser “Mucho Macho HiLife”. Still, the company stock seems to have stabilized a bit and after a gap up at $0.025 today it is now sitting at $0.0232, 0.87% higher from yesterday. That, however, doesnt mean you should skip doing your due diligence before putting any money on the line.[[tagnumber 5]][[tagnumber 5]][[tagnumber 5]][[tagnumber 8]]

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