Olie Inc. (OTCQB: OLIE), a company that plans to provide a myriad of production and editing services to professional musicians, is still in the development stage and difficult to decipher.
That’s because there is scarce information available about this Vancouver, BC-company, yet at the close of the market on Jan. 22 it was one of the most active penny stocks traded, with 58,236,710 shares changing hands, easily eclipsing its 3-month average of 24,485,555 shares.
This surge in volume comes on the heels of Olie's Jan. 21 announcement that it had acquired MVP Holdings Inc., a privately-held company in the following complex transaction:
MVP currently holds over $35,000,000 in unaudited net stockholders' equity, with $34,444,500 deposited by investors in an intermediary account for the benefit of MVP. The acquisition contract has been executed whereby MVP and its stockholders will be acquired by Olie in exchange for anti-dilutive convertible preferred stock of Olie. The transaction is subject to the completion of the consolidated financial statements of MVP.
Forex trading platform
In a written statement, Olie’s President Robert Gardner added even more intrigue to the acquisition: "There is a further $625,000 in payments made by MVP for an algorithmic Forex trading platform that is utilized in its business."
So, all that is revealed about MVP by Olie is that its acquisition pays a pretty good chuck of money for a foreign-exchange trading platform. What this has to do with music production business remains to be seen, but it would be interesting to know.
Mystery wrapped up in an enigma
Perhaps some the answers to this and other questions can be found in Olie's most recent 10K, which explains that the music production company has "explored development into other areas." The terse 10-K then goes on to say that Olie had conducted unsuccessful negotiations with a company that's developed Flat Plate Rechargeable Alkaline Manganese (RAM) Cell battery technology" and a company called Mitch Stone Essentials, which "is engaged in the manufacture of products in the beauty industry, including hair care products."
So, the mystery thickens. But here is what we do know.
Based on SEC filings, the formative music production company Olie has acquired a company that utilizes an algorithmic Forex trading platform, was also interested in a company developing renewable energy in the form of batteries and interested in a company that makes hair care and beauty products.
At the close of the market on Jan. 22, 2014, the share price of OLIE closed at 0.0068 cents, down 0.0007 cents from its close of 0.0075 cents from the previous day.
Find out what could be the best investor’s move when it comes to OLIE by getting the complete report here, or by cutting and pasting the following link in your Web browser:
True Religion Apparel, Inc. (NASDAQG: TRLG), which started out as a penny stock, is now a successful company that designs, manufactures and distributes a variety of luxury denim products, including its premium True Religion Brand jeans.
The Vernon-Calif.-based company operates 148 stores in North America and over 30 international stores. Its claim to fame is that it was able to create a product that captured the imaginations of young, financially affluent jean buyers. That along with good management moves has made the stock a superb investment over time.
Still, the company faces some challenges not of its own making. Designer jeans are big sellers in Europe, but new retaliation tariffs being slapped on some of them by the European Union could potentially kill that market, according to the California Fashion Association.
"The category of 'women's denim trousers' had been dropped from the EU retaliation list several years ago; however the category is now hit with a 26% additional tariff, bringing the total import duty for the period May 1, 2013, through April 30, 2014, to 38%," said a written statement from the association.
How this tariff will affect True Religion European sales over time remains to be seen.
TRLG's share price closed at $31.98 Jan. 27, unchanged from its close of $31.98 the previous day.
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On Jan. 22, 2014, the company's share volume soared to a volume of 97,217,777 shares, substantially higher than its daily average of 78,834,973. One reason for this sudden surge could be the fact that as of Jan. 14, there are six new states considering legalizing the use of medical cannabis. They include New York, Kentucky, Minnesota, Ohio, Pennsylvania and Tennessee. More could follow as state legislators throughout the country convene.
Find out what could be the best investor’s move when it comes to AEGY by getting the complete report here, or by cutting and pasting the following link in your Web browser: