Noble Vici Group (OTC:NVGI) CEO Wai Chong Eldee Tang sold 22,088,353 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $2.49, for a total transaction of $54,999,998.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of NASDAQ:NVGI remained flat at $$2.00 during trading on Wednesday. Volume is thin as no-one wants to sell this one.
Pricing displayed on OTC has been a bit misleading, the stock is not actually $2000 a share, that is simply a result of a reverse split. In reality the $2.49 price is around market.
The stock looks to be $2 to $5 but headed higher this year as the company rolls out their model across Asia.
Noble Vici Group Inc. (OTCMKTS:NVGI), a company that is focused on harnessing the opportunities in the digital revolution of IoT, Big Data, Blockchain and E-commerce, announced that it will establish and fund two new subsidiaries in South-East Asia as part of its expansion plans.
It is in the process of establishing and funding “Noble Digital Apps Sdn. Bhd.” in Malaysia’s Multimedia Super Corridor to focus on mobile apps development, and “The Digital Agency Pte. Ltd.” in Singapore to offer digital marketing and content development services to support NVGI’s global marketing outreach, as well as user and merchant acquisitions.
Commenting on the expansion, CEO Sir Eldee Tang, said, “We are expanding our footprint into newer markets to strengthen our global ecosystem. Our goal is to bring the right mix of innovation, technology and marketing best practices to address the growing business needs as well as investing in the user base that will be leveraging our platforms.”
Sir Eldee added that, “NVGI is also in talks with multiple merchant acquisition platforms with operations in South-East Asia and China to broaden our reach and presence, as well as to gain access to mass-market users in Asia. We believe that Asia is in a state of transformation in the E-commerce sector as China’s Belt and Road Initiative sets to reinvent inter-Asian trade and redefine East-West economics.”
As part of this go-forward strategy, NVGI is committed to divesting its non-core assets in a timely manner so that the company can target and inject upcoming businesses into its portfolio. Additionally, NVGI has filed a reverse stock split application at 1-for-1000 of all issued and outstanding Common Stock. The purpose of the reverse stock split application is to realign the Capital Structure and make newly issued stock available to fund acquisitions and expansion.
About Noble Vici Group Inc.:
Noble Vici Group, Inc. (OTCMKTS:NVGI – News) is a company on the cutting edge of technology, through in-house developments and external acquisitions the company is building an ecosystem of IoT, Big Data, Blockchain and E-commerce to form a digital revolution that provides our users with the tools to live and interact in the modern mobile world.