New Generation Consumer Group Executes LOI to Acquire Revenue-Generating Operating Business with Approximately $20 Million in Annual Revenue

Rhea-AI Summary

New Generation Consumer Group (OTC: NGCG) executed a non-binding LOI to acquire an operating business in the parking sector that generated approximately $19 million in revenue for fiscal 2025 and is projected to generate approximately $20 million for fiscal 2026. NGCG says the deal would shift the company from development-stage to a revenue-generating operating platform, provide immediate scale, and create a foundation for future acquisitions. Confirmatory due diligence and audited financial reviews are underway; a potential closing timeline of about 90 days is stated, subject to customary conditions.

Positive

• Target revenue approximately $19M in FY2025 and projected $20M in FY2026
• Immediate scale: positions NGCG to transition to revenue-generating operating platform
• Recurring revenue characteristics from established parking network and customer base
• Potential foundation for future strategic acquisitions to expand platform

Negative

• LOI is non-binding, so transaction is not guaranteed
• Transaction subject to due diligence, verification of audited financials, and customary closing conditions
• No purchase price or financing terms disclosed in the announcement
• Estimated 90-day closing timeline is conditional and may change

News Market Reaction – NGCG

-30.77%

-30.77% Session close to close

In the Apr 30 session, NGCG declined 30.77%, reflecting a significant negative market reaction.

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Proposed Acquisition Positions NGCG for Immediate Transition to Revenue-Generating Operating Platform

SCOTTSDALE, Ariz., April 30, 2026 (GLOBE NEWSWIRE) -- New Generation Consumer Group, Inc. (OTC: NGCG) (“NGCG” or the “Company”) today announced the execution of a non-binding Letter of Intent (“LOI”) to acquire an established operating business that generated approximately $19 million in revenue in fiscal year 2025 and is projected to generate approximately $20 million in revenue for fiscal year 2026.

This proposed acquisition represents a significant milestone in NGCG’s strategic evolution, positioning the Company to transition from a development-stage entity into a revenue-generating operating platform with immediate scale.

NGCG has historically operated as a development-stage company focused on identifying and structuring strategic growth initiatives. As part of its corporate evolution, the Company has been actively pursuing opportunities to integrate scalable, revenue-generating operating assets with established customer bases and recurring revenue characteristics.

The target business operates within the broader parking sector, providing customers with access to a nationwide network of vetted parking facilities. Industry trends continue to support expansion in this space, including the increasing adoption of online booking platforms and the ongoing demand for convenient, accessible parking solutions across high-traffic locations.

NGCG has initiated formal confirmatory due diligence, including a review of the target company’s audited financial statements and operating performance. Subject to satisfactory completion of due diligence, verification of financial results, and customary closing conditions, the Company anticipates progressing toward definitive agreements with a potential closing timeline of approximately 90 days.

If consummated, the proposed transaction is expected to:

• Accelerate NGCG’s transition into a revenue-generating operating company
• Provide immediate scale through an established operating platform
• Enhance long-term growth potential through recurring revenue characteristics
• Create a foundation for future strategic acquisitions

“The execution of this LOI reflects our disciplined strategy to identify and acquire established operating businesses that deliver immediate scale and operational credibility,” said Jacob DiMartino, President of NGCG. “This opportunity aligns with our long-term vision of building a scalable, revenue-driven platform, and we believe it represents a meaningful step forward in our corporate evolution.”

ABOUT NEW GENERATION CONSUMER GROUP INC.
New Generation Consumer Group Inc. is focused on identifying, developing, and executing high-growth opportunities across technology-enabled infrastructure and service sectors.

FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of applicable securities laws, including statements regarding market demand, revenue potential, growth strategy, and the anticipated closing of the proposed transaction. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied.

CONTACT:
Investor Relations
New Generation Consumer Group Inc.
Phoenix, Arizona
Email: InvestorRelations@ngcg.com

FAQ

What did NGCG (OTC: NGCG) announce about the LOI dated April 30, 2026?

NGCG announced a non-binding LOI to buy a parking-sector operating business generating roughly $19M in FY2025 and projected $20M in FY2026. According to NGCG, confirmatory due diligence and audited financial reviews have begun, with a potential ~90-day closing timeline if conditions are met.

How would the proposed acquisition affect NGCG's business model and scale?

The acquisition would shift NGCG from a development-stage company to a revenue-generating operating platform with immediate scale. According to NGCG, the target provides an established customer base and recurring revenue characteristics to support that strategic transition.

Is the LOI for NGCG a binding agreement and what conditions remain?

No, the LOI is non-binding and the transaction requires satisfactory due diligence, verification of audited financials, and customary closing conditions. According to NGCG, these steps must be completed before definitive agreements and closing can occur.

What revenue figures did NGCG cite for the target business and the timeline referenced?

NGCG cited approximately $19 million revenue for fiscal 2025 and projected about $20 million for fiscal 2026. According to NGCG, the company expects a potential closing timeline of approximately 90 days, subject to conditions and due diligence.

Did NGCG disclose the purchase price or financing details for the proposed deal?

No purchase price or financing terms were disclosed in the announcement. According to NGCG, terms remain subject to negotiation and completion of due diligence prior to definitive agreements and closing.