ADVANCED DEFENSE T COM STK USD0.01
Shares of ADVANCED DEFENSE T COM STK USD0.01 (OTCMKTS:ADCF) nearly tripled in value after the company’s wholly-owned subsidiary, Star Jet Advanced International LLC, said it will start accepting bitcoin as a payment for private jet services. The stock was up by 171.2% to end Wednesday’s trading session at $0.0089 a share.
Investors Reaction to Star Jets Acquisition
According to Star Jets CEO, Ricky Sitomer, they decided to start accepting bitcoin payments due to the growing popularity of the cryptocurrency. Wednesday’s rally capped yet another impressive performance as Advanced Defense Technologies continues to trade in an uptrend.
The acquisition of Star Jets continues to strengthen investor confidence on ADVANCED DEFENSE T COM STK USD0.01 (OTCMKTS:ADCF). The merger has expanded the company’s operations into the business of private jet bookings as well as brokerage and software solutions.
“We are pleased to enter into this LOI to combine with Star Jets International,” said Anne Tahim, CEO of ADCF. “We believe that the proposed transaction will create significant future value for our shareholders and other stakeholders.
ACDF-Star Jets Merger
Under terms of the Letter of Intent, ADVANCED DEFENSE T COM STK USD0.01 (OTCMKTS:ADCF) shareholders retained 10% ownership of the combined company with new shareholders owning the remaining 90%. Plans are underway to change the company’s name to Star Jets International as part of the agreement.
In addition, the company has taken the necessary steps to remove the ‘Stop Sign’ on its stock. However, those steps require the company to file certain information with the OTC markets.
“We hope to have the ‘Stop Sign’ removed and the name changed as soon as possible once all regulatory steps are taken,” said Mr. Sitomer.
Star Jets International core business involves providing customers all the advantages of owning corporate jets without having to contend with the burdens associated with ownership. The company boasts of a portfolio of over 5,000 private jets domestically and an additional 15,000 on the international scene.
ADVANCED DEFENSE T COM STK USD0.01 (OTCMKTS:ADCF), on the other hand, develops innovative system technologies targeting military defense and homeland security industries. The company’s technologies have been developed in collaboration with Government Agencies including the US military and defense contractor Philips Labs.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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