RE:RE:RE:DavidelZorro - hope you did not invest too much!Yep MGX used to be Zinc8‘s parent but Zinc8 diluted the share base so much that MGX has no control anymore. I believe less than 10% but don’t nail me down on that.
It is a long sad story but in a nutshell MGX bought a water treatment company and it was said they could extract lithium from oil and gas waste water. It was hyped by stock promoters such as Rockstone Research (Zimtu related stock advertising company) and MGX wasted millions and millions on advertising. Eventually the share price hit $2 but declined over the following months as there was no progress. It turned out to be a complete bust/scam. Zimtu was heavily invested and made a fortune.
To stop the share price from falling MGX pulled the next stunt and purchased this battery company from Teck Resources for just $250,000 and some shares. The company was called ZincNyx at that time, then renamed to MGX Renewables and again to Zinc8. It was touted they would mass produce 1000 units by early 2019. It’s end of 2020 now and nobody has seen just one single working system. Again lots of spending on stock promotion, heavy insider trading by Zimtu, highly dilutive private placements for insiders... I could go on forever.
Anyways as you figured this out already I think you get the idea.
If you are planning to invest into a Canadian penny stock the first thing you need to do is to check if Zimtu is somehow related to the company. If yes grab your money and run as fast as you can! Zimtu is one big red flag. Make sure to tell your investment friends about Zimtu and how they suck inexperienced investors dry!