I see this from the May 2013 10Q. A foreign investor has a $2.5m agreement which is based on the stock price... which would explain someone trying to bash it down. They get financing in exchange for shares priced at an 80% discount of the average closing share price. I see a clear financial incentive to bash the price down. I now believe you -are- a basher, and I'm reporting this to the SEC.
NOTE 6 – FINANCING AGREEMENT
On August 29, 2012, we entered into an Equity Based Financing Agreement with one non-US investor pursuant to which, the investor will make available up to $2,500,000 by way of advances until August 29, 2013 (the “Completion Date”) in accordance with the terms of the agreement. The Completion Date may be extended for an additional term of up to twelve months at the option of our company or the investor upon written notice on or before the Completion Date in accordance with the notice provisions of the Financing Agreement. We will issue, within ten (10) Banking Days following the date of the receipt by our company of any advance under the agreement, shares of our common stock at a price equal to 80% of the average of the closing prices of our common stock for the preceding 5 Banking Days immediately preceding the date of the notice, as quoted on Yahoo Finance or other source of stock quotes as agreed to by the parties.
During the six month period ended March 31, 2013, the Company received $500,000 under the financing agreement by way of an equity private placement for 781,250 shares of common stock at $0.64 per share.
See... calling me a "shill" (a word i had to look up) just makes it that much clearer to me a you are just a confused conspiracy theorist. Please find some other pass time than damaging my already-battered investment portfolio. If you think AGIN is really a fake company then report them to the SEC, along with all your evidence... because without their support, you are risking federal prosecution for stock bashing ..... My ledger reads -x $hundred because of this stock bashing of yours. If your hunch is right, the SEC do what needs to be done, and you won't risk jail time for your own self. If I keep seeing minus x hundred dollars on my balance sheet because you are slandering the company I invested in, I will have to report you to them, because to me it's no different than if you were stealing $100 from me every day.
Where is it stated that expressing a negative opinion about a company on a public forum is a federal crime ? How is encouraging people to read Securities and Exchange Commision filings "bashing" ? I'm sorry you lost money. I have lost money on stocks too. My point is that people need to do their homework. Perhaps you will have better luck with future investments.
Read up on Pump & Dumps in general ... how they operate, how the stock price gets manipulated by the insiders, the risks involved. It may be useful information for the future.
The SEC seems to turn a blind eye to the practice, which is unfortunate.
I think you have to admit something, homebrew... if what you are saying is false, it is definitely stock bashing, which is a federal crime. i have yet to see a single shred of proof of your claims. i don't mean hostility towards you, because i get the sense you are doing what you are doing out of concern. but their 2012 10Q does not say as you said "they are an empty shell doing nothing"... and there is no 2013 10Q. the press releases do indicate they are moving forward with things. i'm going to submit this thread to their company and see what they have to say about it, because i don't know how to address everything you are saying. if you are telling the truth, it will be interesting to see their response. if what you are saying is not true, you better hope they are merciful and forgiving, and explanatory rather than taking direct legal action, which they could. the reason stock bashing is a crime is that it cheats people out of the fair value of their investments. (and i understand that is precisely what you think agin is doing) that concept is valid for law, if applied with justice, accuracy, fairness and mercy, while maintaining the fact that it was designed to protect people from robbery by means of deception and inaccuracy. frankly i don't know which way this thing will go, but it seems only right to involve the company in this discussion, because your placing this sort of commentary on a major website designed to inform investors makes it very essential that we get the truth known, whatever it might be. i believe, and hope, what you're saying is false, that it is exposed as such, and that they are merciful to you. i'm forwarding them the link to this thread right now. have a great day.
Thanks for your post. I read it and then checked out the Director's track record. He has a trail of companies that pump and then drop to a penny or less. I sold today. Thanks for getting me out before this goes to zero.