PDX PARTNERS INC (OTCMKTS:PDXP)
PDX PARTNERS INC (OTCMKTS:PDXP) shares more than doubled in value after the telecommunication company announced plans to reduce the number of authorized shares. The stock gained 161.9% in Monday’s trading session, to end the day at $0.011.
Share Reduction Reaction
Monday’s rally helped reverse a sell-off wave that had plagued the stock in recent weeks. PDXP stock is still down by more than 50%, for the year after, dropping from its January highs of $0.06. Renewed investor interest could be due to growing confidence a reduction in authorized shares could have going forward.
PDX PARTNERS INC (OTCMKTS:PDXP) plans to reduce the number of authorized shares from 2.3 billion shares to 750 million.
“We have decided to further decrease the number of shares authorized as we believe a lower number of authorized shares and issued and outstanding will allow us to sustain a good stock price while building a solid market cap for the company in the long term,” said CEO, Patrick Johnson.
According to the Chief Executive Officer, there are plans to carry out additional reductions to enhance Net Stock Holder Equity as the stock price stabilizes.
TeleQuery Marketing Agreement
Separately, PDX PARTNERS INC (OTCMKTS:PDXP) has executed an exclusive marketing agreement with TeleQuery. Net, Inc. The execution marks yet another play as the company continues to ramp up its operations in the telecommunication sector.
Pursuant to the agreement, the company is to provide development capital and an advertising budget, for new and existing TeleQuery products. TeleQuery develops and sells secure telecom services and patented motorcycle towing devices.
In addition, PDX PARTNERS INC (OTCMKTS:PDXP) has expanded its footprint into the cannabis space with the signing of a Letter of Intent with Green Flow Technology. Under the terms of the deal, the company is to market Green Flow’s proprietary energy efficiency technology in North America.
Cannabis Sector Opportunity
Green Flow boasts of a technology that has multiple patented components able to create a new form of energy in the form of AC and DC, from existing wires. The company’s bulbs are specifically designed for high yield healthy plant growth.
“The most significant component in the cannabis cultivation industry is lighting and power. With Green Flow bulbs and its groundbreaking energy efficiency technology we have the ability to provide combined lighting and power packages that allow cultivators the chance to operate their facilities completely off the electrical grid,” said Mr. Johnson.
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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