Fortitude Group, Inc. (OTCPINK: FRTD) saw its share volume skyrocket on May 19th with 204,778,160 shares exchanging hands, six times higher than its three month daily average volume of 32,743,027 shares.
This uptick in volume comes after Fortitude Group, Inc. announced that they received a Letter of Intent (LOI) to be purchased by a fully reporting OTCQB company. The name of the proposed acquirer has been withheld due to the LOI having a confidentiality clause. The LOI also includes a 10-day due-diligence period with an estimated closing date for the transaction of May 30, 2014. Upon completion of the due-diligence period, both companies intend to make a joint announcement to the public as well as file the required 8-k.
The LOI proposes an "in-Kind" share-exchange between both companies whereby upon completion of the merger, the OTCQB Company would be the surviving entity. The acquiring company has valued Fortitudes shares at $.12 per share which is the proposed value Fortitude shareholders would receive upon completion of the merger. This valuation was achieved by combining the industry acceptable valuation of Fortitudes recently acquired data base, the revenue derived from their VaporVites vapor system and adjusting the issued and outstanding stock for the nearly 230 million Fortitude shares which were part of the recently announced Share Buyback program.
FRTD closed at $.0282 on May 19th, 203.23% higher than its previous close of $.0093.
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Evercel, Inc. Sees Share Volume Soar
Evercel, Inc. (OTCPINK: EVRC) saw its share volume shoot through the roof on May 19th with 801,805 shares exchanging hands, twenty-three times higher than its three month daily average volume of 34,730 shares.
With no new news on the company, one can only speculate as to why this uptick in share volume occurred, but here is what is known about the company:
New York City based Evercel is a publicly traded holding company that oversees and manages subsidiary companies. Operations currently include a business printing equipment manufacturer. Due to Evercel's limited number of shareholders and its decision at present not to register with the SEC, Evercel is not obligated to report financial information. Evercel chooses to voluntarily report information periodically.
EVRC closed the day on May 19th at $1.05.
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Sigma Labs' Share Volume Remains Steady
Sigma Labs, Inc. (OTCQB: SGLB) saw its share volume remain strong on May 19th with 2,550,919 shares exchanging hands, slightly lower than its three month daily average volume of 3,169,887 shares.
With no recent news, here is what is known about the company:
Sigma Labs, Inc., through its wholly-owned subsidiary B6 Sigma, Inc., develops and engineers advanced, real-time, non-destructive quality inspection systems for commercial firms worldwide seeking productive solutions for 3D metal printing and other advanced manufacturing technologies.
Just last month, Sigma Labs signed an agreement with Materialise NV to integrate Sigma Labs' PrintRite3D quality inspection technology into Materialise's 3D printing software.
Mark Cola, President and Chief Executive Officer of Sigma Labs, Inc. stated that, "We remain focused on the three problems that are in part slowing the growth of the additive manufacturing market for metal-based, performance-critical parts, namely: quality, geometry, and productivity. To address the quality issues we continue to be successful in implementing our PrintRite3D(r) product with major North American aerospace customers. By further integrating our PrintRite3D(r) software technology with Materialise's additive manufacturing software, we believe that we will reach the broader additive manufacturing market sooner and be able to assist a larger number of AM users with achieving their in-process inspection needs more quickly. A software package for additive manufacturing which incorporates our PrintRite3D(r) in-process inspection technology enables users to more quickly achieve rapid qualification with greater process reliability without having to wait until the end of the manufacturing process. This would save users money by eliminating expensive post-process inspection technologies."
SGLB closed at $.13 on May 19th.
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