The fact that NGIO filed a Form 10 is a good thing

The fact that NGIO filed a Form 10 is a good thing in my opinion - because only companies with over $10 million in total assets and 750 or more shareholders are required to file a Form 10 with the SEC....which means NGIO will be raising more than $10 million to start with.

I am guessing initially maybe NGIO was not going to raise that much money so Form 10 was not required..but maybe after contract with China and the potential vaccine for Coronavirus, NGIO attracted more investment, so now Form 10 becomes a required form.

Go GNBT!! Go NGIO!!!

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Copied and pasted from Investopedia -


SEC Form 10 is a filing with the Securities and Exchange Commission (SEC), also known as the General Form for Registration of Securities. It is used to register a class of securities for potential trading on U.S. exchanges. Any company with over $10 million in total assets and 750 or more shareholders is required to file a Form 10 with the SEC. Any company under these thresholds may file a Form 10 voluntarily. The Form 10 registration statement automatically becomes effective sixty days post-filing.