AudioEye Inc.’s (OTCQB: AEYE) share value experienced strong volume Sept. 29, with 645,201 shares changing hands, significantly higher than its 30-day average volume of 443,541 shares.
The volume is being triggered in part by the Arizona-based voice-activated technology company’s recent announcement that it has contracted with the University of California, Merced (UC Merced) to deploy its patented accessibility platform, which will provide compliance with Americans with Disabilities Act requirements, while expanding the reach and convenience of all UC Merced websites.
According to AudioEye, the university system includes 10 campuses that offer undergraduate and graduate degree programs. The campuses include UC Berkeley, UC Davis, UC Irvine, UCLA, UC Merced, UC Riverside, UC San Diego, UC San Francisco, UC Santa Barbara and UC Santa Cruz.
UC Merced is among the first universities to adopt AudioEye's technology and the first to do so campus-wide, the company said. There are over 10,000 college, university and trade school websites that AudioEye's accessibility platform technology has the scale and technological strength to address, the company added.
However, the financial terms of the deal were not disclosed.
Strong Financials
Unlike so many penny stocks, AudioEye’s financials are quite strong.
Here is a summary of its latest 10Q, covering the quarter ending June 30:
Cash on hand: $514, 100Current assets: $4.3 million
Current liabilities: $1.3 million
Revenue: $3 million
Net income: $1 million
On Sept. 29, AEYE’s share value closed at 57 cents, down 3 cents from its closing price of 60 cents previous day.
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Integral Technology’s Share Value Increases 23.4% in One Day
Integral Technologies Inc.’s (OTCPink: ITKG) share value and volume soared Sept. 29 on news it closed a major supply agreement with East Penn Manufacturing.
The Washington-based plastic technology company’s stock volume shot through the roof, with 1.1 million shares changing hands, 8.5 times its 30-day average volume of 166,690 shares.
Under terms of the contract, Integral’s wholly-owned subsidiary ElectriPlast will provide engineering and design services, materials and finished products to East Penn for an undisclosed amount.
On Sept. 29, TKG’s share value closed at 63 cents, up 12 cents, or 23.04% from its closing price of 51 cents the previous day.
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Sino Agro Food Continues Its Upward Trend
Sino Agro Food Inc.’s (OTCQB: SIAF) stock volume and value continue to surge.
The Mainland China-based organic food company’s stock volume skyrocketed Sept. 29, with 2 million shares changing hands, more than twice its 30-day average volume of 952,000.
The company’s share value closed at 86 cents, unchanged from its closing price the previous day, only 1 cent below its 52-week high of 87 cents.
The uptick comes on the heels of the Sino Agro Food’s announcement that it has closed a net $24,975,000 convertible note funding with Euro China Capital AB, a Nordic investment house.
The convertible note carries an interest rate of 10.5% p.a. fixed, a term of 5½ years, and a conversion price of $1.00. The principal amount of the note is $33.3 million.
The note is junior to any existing or new debt and does not restrict the Company from adding any amount of new debt regardless of form, and neither does the note restrict the Company from any cash nor non-cash dividends to shareholders. The basis for any subsidiary spin-off is set out in detail in the agreement.
Sino Agro has covenanted and committed to discontinue the issuance of equity to its trade suppliers and similar except for those that had been agreed to prior to the signing of the convertible notes agreement. The company added that it will settle all remaining commitments of this kind during the third quarter, resulting in a total number of outstanding shares of 170m.
Proceeds of the note will be used to complete the company’s existing 5-year plan. The Company will meet with Euro China Capital in Stockholm in September to agree on a plan on how to best create shareholder value.
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Underground Solutions Inc.’s Stock Volume Soars
Underground Solutions Inc. (OTCPink: UGSI) stock volume skyrocketed Sept. 29, with 2.6 million shares changing hands, 16 times its 30-day average volume of 156,752 shares.
It’s difficult to know what’s behind the sudden surge in volume because the California-based water and sewer infrastructure company hasn’t been in the news, nor has it issued any press releases since Jul 23.
At that time, Underground Solutions announced that it successfully closed a $45 million financing transaction with Riverwood Capital of Menlo Park, CA.
The structured transaction provides for an initial investment of $30 million in UGSI's Series C preferred stock, with an option for an additional $15 million investment. The financing represents one of the largest private equity transactions in the water technology space in recent years.
Since then the company has been silent.
However, we do know that on at least one stock tracking site UGSI is listed as Over the Counter Pink with limited information. As always, investors should be armed with as much information as possible before they consider investing in any equity.
On Sept. 29, UGSI’s share value closed at 13 cents, down 1 cent from its closing price of 12 cents previous day.
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