ProGreen US Inc (OTCMKTS:PGUS) Is Today's Stock Focus

ProGreen US Inc (OTCMKTS:PGUS) is unlike most other OTC companies. Many OTC companies that we've encountered are nothing more than share selling schemes designed to enhance insiders at the expense of shareholders. ProGreen US is in a different league. PGUS has a CEO that's not only reducing the outstanding share count, but also investing his own money in the stock. As we've come to discover, PGUS is one OTC stock that needs to be on every penny stock investor's radar.PGUS has been one of the top performers on the OTC Markets for 2016. Shares were as low as $.0004 early in the year and as high as $.0288 back in September. Anyone that got in on the lows saw gains of over 7000% on their investment at one point. Judging from the latest updates on the company's plans in Baja California, further big gains are likely.First up, a little background on the company. ProGreen US Inc is based in in Bloomfield, Michigan. The company has been engaged in the business of acquiring, refurbishing and upgrading residential real estate into modern affordable homes, offered for sale with Land Contracts to buyers still unable to obtain conventional credit. At this time the company is not acquiring further properties, but is instead focusing on intensifying its property investments in Baja California, Mexico, both through its joint venture partnership with Contel as well as through its subsidiary Procon Baja JV.The latest news on this Joint Venture is that it's in the process of establishing the necessary agricultural infrastructure for the joint venture. The partners in the JV have established a direct channel with two different US fresh produce importers. This enables Contel to manage produce growing operations on their own or in partnership with other growers on the 300 acres of land that forms part of the Joint Venture Agreement with ProGreen, entered into last February. As a producer, Contel will be able to grow more than one cycle per year on the property, an efficient use of the land.ProGreen said that it is presently in advanced discussions with a landowner concerning the possible acquisition of 4,500 acres of oceanfront land through its subsidiary in Mexico, ProCon Baja. The intention would be to develop a master plan, obtain necessary permits and bring investors and developers into individual real estate projects. CEO Jan Telander said:

"This potential real estate project is very exciting and could transform the future of ProGreen's involvement in Baja California."

Earlier this month, ProGreen filed a Certificate of Amendment to its Certificate of Incorporation in Delaware reducing the authorized shares of common stock from 1,500,000,000 to 950,000,000. This reduction comes after CEO Jan Telander signed a 5% Promissory Note with the company for a credit line of up to $250,000. The Note is non-convertible and will be repaid within one year. As a further incentive, up to 2,500,000 warrants with an exercise price of $0.05, will be issued as advances under the credit line are made. ProGreen said that the credit line provides a most favorable financing arrangement for ProGreen as it continues to execute its business plan. CEO Jan Telander said:

"My confidence in our business plan and strategy, and my commitment to the success of ProGreen, are my reasons for personally securing this bridge financing."

Prior to signing the credit line, Telander purchased 915,000 shares on September 29 and October 3. He first purchased 15,000 shares at $0.0195 and added another 25,000 shares at $0.0196 cents. Then, Telander added 490,000 at $0.019, then another 135,000 at $0.0195. Telander bought another 10,000 shares at $0.0198 and finished with 240,000 shares at $0.0199.Currently trading with a market cap of $6.36 million, PGUS has all the makings of what we like to see in an emerging growth company. The most important aspect in our opinion is a strong CEO. In looking at CEO Jan Telander's CV, we see that he had major successes including founding Soltech, a leading solar tech company in Sweden and China. In Spain, he built over 500 homes. We believe ProGreen could be his biggest success yet and one which investors can currently get in on for less than two cents a share. We will be updating our subscribers as soon as we know more. For the latest updates on PGUS, sign up below!Disclosure: We have no position in PGUS and have not been compensated for this article.