Trans Global Group Inc (OTCMKTS: TGGI) has had a wild week dropping to lows of $0.0018 on Thursday after the Company filed a preliminary information statement that stated the bod has approved a 1 for 1000 reverse stock split as well as lowering authorized to 1,000,000,000 shares resulting in a post-split OS of 22,131,340 shares. The reverse split is expected to happen on November 27. The stock came back with resilience and power on Friday closing at $0.0031 up 43% on 517,969,998 shares traded on around $16 million in dollar volume. A massive day and a significant harbinger of things to come. TGGI has a lot of believers many of who see the stock as way oversold after Thursday’s selloff.
TGGI is a fully reporting reverse merger play with global ambitions and a massive investor following that is only growing bigger. Mr. Chen Ren Feiyang currently owns the controlling block of TGGI and along with TGGI president, Mr. Tang Jiacheng the two have long been very public about their intentions for going to a national market and forming a global enterprise and list on the Nasdaq. The RS is certainly not set in stone as Management could cancel it at any time and Thursday’s filing was a preliminary information statement although the BOD has voted on it. Even if it does take place on November 27, it does not automatically mean a lower pps a market cap, many reverse stock splits we have covered on the website, especially on Companies with a lot going on, the stock actually made significant moves northbound before and after the split.
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Trans Global Group Inc (OTCMKTS: TGGI) is a Delaware holding company that plans to conduct substantially all of its operations and business in China through PRC based subsidiaries. In August TGGI completed the reverse merger with ZXG Holdings Ltd, which holds famous Chinese favored liquor brand and liquor distribution and sales network assets in China.
Reverse Merger stocks (RM) are easily among the most exciting and explosive stocks in small caps rivaling only biotech’s in their ability to make historic gains and TGGI has been no exception so far. The ambitious new CEO and controlling shareholder of the Company Chen Ren is the founder of Zuixiangui wines which produces over 4,000 tons (11M 1 Liter bottles) annually using patented methods of production on an operations site of more than 300 acres which has no reversed merged into TGGI. Chen’s passion for wine matched his dreams of becoming a public company and he has made clear his intentions to one day list TGGI on the big boards. Chen Ren was a famous singer/entertainer in his earlier years. Amongst his many songs/albums, he made numerous songs about wine. He dreamed of making a specific wine and sharing it with the world. Chen’s passion for wine matched his dreams of becoming a NASDAQ company and he has made clear his intentions to one day list TGGI on the big boards.
Zuixiangui International Holdings Group, a specialty wine and spirits company based in China has emerged as a potential leader in nanotechnology-based wine production. Nanotechnology in the wine industry is starting to become a potentially significant trend. A recent piece in Wine Australia provides an effective summary. One prominent example of how this works is through the attachment of magnetic nano particles to a special polymer that can then be added to wine to bind with impurities before subsequently being extracted – along with the impurities – through the use of a simple external magnet, producing a superior wine.
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In August (in the long awaited 8k and press release) TGGI announced the Company entered into a share exchange agreement with ZXG Holdings Ltd. (the “Target”) and Southsea Global Ltd. (the “Seller”) on August 3, 2022. Pursuant to the Agreement, the Company acquired 100% of outstanding equity interests of the Target, which holds famous Chinese favored liquor brand and liquor distribution and sales network assets in China. Pursuant to the Agreement, the Company issued 1,465,761,689 shares of common stock to the Seller, which was the sole shareholder of the Target. Upon completion of the acquisition on August 8, 2022, the Target now becomes a wholly-owned subsidiary of the Company.
Chenzhen Zui Xian Gui Brewery Technology Limited” (“ZXGSZ”) “Zui Xian Gui 醉仙归”, the brand name was founded by Mr. Ren Chen, a famous singer and post-80s entrepreneur. He insisted on building Chinese flavored liquor and a Chinese liquor culture, building the brand with special quality and multi liquor culture, and striving to create a healthy and good wine belonging to China and the world. ZXGSZ was principally engaged in the distribution and retail of the liquor for the China market, through online and offline channels. ZXGSZ was found in April 2019, has a total of 18 full-time employees as of the date of this report. Its headquarters are located in Shenzhen City, China, where it leased one principal executive office of 620 square meters and it has 162 distributors covering 136 cities in China. We have five kinds of liquor series products with 53%vol and 500ml, including Zui Xian Gui International Classic, Zui Xian Gui International Premium, Zui Xian Gui International Collection, MOGU DAXIA and DangBing DeRen.
On October 5, 2022, the Board of Directors of the Company approved the Reverse Stock Split and the Authorized Shares, subject to Stockholder approval. The Majority Stockholders approved the Reverse Stock Split and the Authorized Shares by written consent in lieu of a meeting on October 6, 2022. Accordingly, your consent is not required and is not being solicited in connection with the approval of the Amendments. The Authorized Shares will become effective when we file the Certificate of Amendment with the Secretary of State of the State of Delaware after this Information Statement is effective.
The Board approved a resolution to effectuate a 1:1,000 reverse stock split. Under this reverse stock split each 1,000 shares of our Common Stock will be automatically converted into 1 share of Common Stock. To avoid the issuance of fractional shares of Common Stock, the Company will issue an additional share to all holders of fractional shares. The effective date of the reverse stock split will be approximately November 27, 2022.
The Board of Directors believe that, among other reasons, the number of outstanding shares of our Common Stock, compared to the market price, have contributed to a lack of investor interest in the Company and has made it difficult to attract new investors and potential business candidates. As a result, the Board of Directors has proposed the Reverse Stock Split as one method to attract business opportunities in the Company.
We believe that the reverse stock split may improve the price level of our Common Stock and that the higher share price could help generate interest in the Company among investors and other business opportunities. However, the effect of the reverse split upon the market price for our Common Stock cannot be predicted, and the history of similar stock split combinations for companies in like circumstances is varied. There can be no assurance that the market price per share of our Common Stock after the reverse split will rise in proportion to the reduction in the number of shares of Common Stock outstanding resulting from the reverse split. The market price of our Common Stock may also be based on our performance and other factors, some of which may be unrelated to the number of shares outstanding.
As a result of the reduction of the Common Stock, the pre-split total of issued and outstanding shares of 22,131,339,996 shall be consolidated to a total of approximately 22,131,340 issued and outstanding shares (depending on the number of fractional shares that are be issued or cancelled). The Company’s authorized number of common stock shall be reduced to 1,000,000,000 shares of the Common Stock.
— MattyLightOTC (@MattyLightOTC) October 7, 2022
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TGGI made a powerful move northbound on Friday closing at $0.0031 up 43% on 517,969,998 shares traded on around $16 million in dollar volume. The stock saw a massive decline on Thursday after the Company filed the preliminary information statement that stated the bod has approved a 1 for 1000 reverse stock split. Many speculators in TGGI are holding strong and see the stock as significantly oversold at current levels. The RS is certainly not set in stone as management could cancel it at any time and even if it does take place on November 27, it does not automatically mean a lower pps and market cap, as we said many times before, many reverse stock splits we have covered on the website, especially companies with a lot going on, the stock actually made significant moves northbound before and after the split. Mr. Chen Ren Feiyang currently owns the controlling block of TGGI and along with TGGI president, Mr. Tang Jiacheng the two have long been very public about their intentions for going to a national market and forming a global enterprise and list on the Nasdaq and that has not changed. We will be updating on TGGI when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with TGGI.