I ll be back
10 hours ago
Our 1.7M seller showed up under the RS news and slowly drove the price down under little to no volume. However, I have to wonder if it wasn't the listing screw up, given the share value IMO shouldn't warrant a price drop, considering they have no debt.
As for the clowns, I no longer see or read what they have to post. Hit that Big Beautiful button some time ago when it became obvious that they brought no meaningful content to this forum.
For those wondering why this stock has no liquidity. Look no further than the number of shareholders posted in the companies last filing. When and IF these guys ever land a meaningful PO (IE Winner) this stock is going to run like NO one has never seen before. For those that missed the filling, it only showed SIXTY shareholders.
srm4u
2 days ago
Management Certification 06/20/2025
https://www.otcmarkets.com/file/company/financial-report/475668/content
https://www.otcmarkets.com/file/company/financial-report/475667/content
https://www.otcmarkets.com/stock/MGON/profile
https://www.otciq.com/home
https://www.otcmarkets.com/files/OTCIDRules.pdf
AI Overview
Regarding the anticipated effective date for the Reverse Split being June 15, 2025, and its subjection to review by FINRA:
This statement outlines a common process for companies that are going through a reverse stock split, particularly if they are trading in the over-the-counter (OTC) market.
Here's why FINRA review is important in this context:
OTC Corporate Actions: For companies with unlisted securities trading on the OTC market, federal law requires them to notify FINRA of corporate actions like reverse stock splits. FINRA then reviews the submission and publishes a notification to keep investors informed.
FINRA's Role: FINRA's role is not to approve or disapprove the corporate action itself, but rather to ensure the market and investors are informed and that the information submitted is not deficient.
Review Process: The review process ensures proper disclosure and transparency for investors. FINRA may request additional documentation or information to clarify or support the corporate action filing.
Factors Affecting Review: The thoroughness of the review and potential delays can be influenced by factors such as the completeness of the filing, the company's SEC reporting compliance, any pending regulatory actions, or concerns about potential fraud.
Effective Date: The reverse stock split will become effective only after the FINRA review is complete and the action is processed.
In summary: The planned effective date of June 15, 2025, for the reverse split is contingent on FINRA's review process, which involves scrutinizing the corporate action to ensure proper market and investor notification and information.
ITYS
1 week ago
Again, I think majority are below any threshold of this cosmetic r/s affecting anyone like a typical OTC toxic spin.
Like the clowns company MWWC for example that has no revenue stream, no product, and has 6 billion shares issued and were denied a reverse split....MGON is at the complete other end of totem pole.
Upside plays into the hands of management IMO
Clean slate, no debt, pps that potentially gives portfolio a proper valuation for future PP, Offerings
they control all IPs, patent so NOW find one licensee....just 1 makes this go IMO
As i said before, look at GEVI, they have MGON knockoff AF31 and at $2 ....cmon man, management must be licking their eyebrows lol
ITYS
1 week ago
"never been able to get share price up"...hmmm, i was in at .002 and it went to .02 just over 6 months ago
Company doesn't have an IR firm or even a national news release, they only use OTCIQ and X posts.
FUNNY, what people expect the company to do. Nowhere does it state company needs to pump itself !
Seems management are content on acquisition developments, retiring debt, reducing stock issuances and now corporate restructure. Again, I don't think they spent out of pocket for nothing. Something surely lands here, its a matter of when they tell us lol
I ll be back
1 week ago
Based on my background, I also agree.
I've never had a Reverse Split go well. My 6mm will now go to 200k. I find it to be weird, especially since the OS wasn't big to begin with... Weird...So because of how weird it is, I actually think this may be the one out of ten RS that may make sense.
I have a couple of ideas has to why this would be done. But they're nothing more than a theory.
Based on prior management history as it relates to cleaning up and returning shares as well as getting the financials audited, they continue to show signs of setting this company up for a private placement or funding for a PO. In the meantime, given the lack of liquidity and no revenues, the guy trying to unload 1.7M is going to push the price point lower. I for one will be letting him/her push the stock back below $0.005.
dog786
1 week ago
Well in the OTC land, I've never had a Reverse Split go well. My 6mm will now go to 200k. I find it to be weird, especially since the OS wasn't big to begin with... Weird...So because of how weird it is, I actually think this may be the one out of ten RS that may make sense. You got to believe they have a plan, or it'll be just another bullshit OTC stock that RS. I just don't see this group doing the RS rinse and repeat. But, I've been wrong before....Time will tell.
I ll be back
1 week ago
Point of clarification.
FINRA does not approve reverse splits, but it does process them and publishes information about them, particularly for companies trading in the over-the-counter (OTC) market. FINRA's processing function helps keep investors informed, but it does not review or approve a company's decision to conduct a reverse split, according to FINRA.org.
FINRA Rule 6490:
This rule establishes the requirement for companies trading in the OTC markets to inform FINRA about specific corporate actions, including reverse splits.
Timely Notification:
The notification needs to be provided in a timely manner to allow FINRA to fulfill its regulatory obligations and ensure that investors have access to accurate information about the company.
Reverse Split Ratio:
The notification must include the specific ratio of the reverse split (e.g., 1:2, meaning two shares become one).
Public Disclosure:
The company is also required to provide a draft of the required public disclosure announcing the reverse split.
Two Business Days Before Effective Date:
The public disclosure needs to be released at least two business days before the proposed market effective date of the reverse split.
FINRA processes reverse split announcements, meaning it takes the information from the company and makes it publicly available on its website.
Notice Requirements:
OTC companies must notify FINRA about a reverse split 10 days before the record date, which is the date when the split is officially implemented.
No Review of Compliance:
FINRA does not review the company's business decisions, including whether the reverse split complies with state or federal laws.
Company's Responsibility:
The company is responsible for ensuring that its business decisions, including reverse splits, comply with all applicable laws and regulations.