ProText Mobility, Inc. (OTCMKTS: TXTM) had an enormous week last week and some think it’s just the beginning for TXTM already being called the one to revitalize the OTCs and bring the volume back. We all remember the days when TSNP went from triple zeroes to $6 per share plus as HMBL. And there were many others too, many that we covered when they were well under a penny including ENZC, OZSC and FORW to name a few. Last week TXTM consummated the reverse merger when RSA Medical Marijuana Dispensaries RSAMMD™ a south African Company that states on their website they produced 35,000 kilograms of cannabis on 1,000 hectares plot sitting on a 5,000-hectare farm with a lot of room for expansion. While this is big news there is no doubt about especially considering 35,000 kilograms of cannabis is worth about $85 million nobody expected TXTM to just keep going every day running 1,000% since we predicted a big week ahead with our article: “Gearing Up for Enormous Week After RSA Medical Marijuana Dispensaries RSAMMD™ Tweets it has Closed on the Acquisition of TXTM” But TXTM did keep going making double digit gains while the DOW dropped 3,000 points in a week. TXTM has already revitalized the OTC and brought back hope and considering the action last week closing up 8% on Friday on $7.5 million dollar volume anything is liable to happen this week. We all saw TSNP moving up in triple zeroes one day (we reported on TSNP well under a penny here) and the next it was moving up dollars per day. It happens in penny stocks, and when it happens it happens very, very fast sometimes.
As we have been saying reverse merger stocks can be more explosive than biotech’s when the incoming Company has real value but is undiscovered to investors and we have covered many on the website that have gone from pennies to dollars. Two recent RM runners that stand out are TSNP which went from sub pennies (where we first wrote about it) to several dollars per share. The other is HRBR which went from a few cents (where we first wrote about it) to $3 plus. TXTM is the perfect RM candidate, “Pink Current” on OTCMarkets TXTM has about $1 million in debt and trades at a $121 million total market valuation with 7,831,465,506 shares outstanding. On Friday the Company announced it has been invited to present at the Emerging Growth Conference on Wednesday June 22nd, 2022 from 12:30pm -1pm EST. The Emerging Growth Conference is host to over 20,000 attendees and is a live, interactive online event. Existing shareholders and the investment community will have the opportunity to interact with the Company’s Chairman Dr. Ahmed Jamaloodeen (Dr.J) and CEO Dylon Du Plooy, who will be presenting in real time. Dr.J, Protext Chairman commented “We are looking forward to presenting at our first investor conference and the timing of the Emerging Growth Conference next week couldn’t be better. We plan to share our near-term goals and future plans with current shareholders as well as new investors interested in hearing our growth story. Everyone will get to meet the leaders who are building shareholder value and guiding the Company into the future.” Register here
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RSA Medical Marijuana Dispensaries RSAMMD™ is a fully licensed health practitioners, qualified to dispense and prescribe medical cannabis in South Africa. The Company offers superior patient care and 100% Indoor and greenhouse grown cannabis ensuring patients receive clean, safe, and pure medical cannabis products. RSAMMD has 2 commerical licenses, 1 dispensing, importation & prescription license, 2 permits, 1 seed bank cultivar and with an annual production of 35,000 kilograms per year.
On Friday in a “change of control” filing TXTM stated: “Protext Mobility, Inc. (TXTM) closed on a transaction June 3rd, 2022 whereby it acquired 100% interest in RSAMMD Acquisitions LLC. Dr. Ahmed Jamaloodeen became Chairman of the Board and President of Protext. Mr. Dylon Du Plooy became CEO and Director of Protext.RSAMMD Acquisitions LLC assumed control from Protext through newly issued preferred stock. Mr. Dylon Du Plooy and Dr. Ahmed Jamaloodeen are the principals of this entity and are the beneficial owners of the Protext controlling stock.
$txtm does it get any better then this. Watched tickers scream up +1000% on no revenue/no backing/hype alone for small deals. And then this happens! Once in a lifetime and hasn’t even started yet!!! Biggest reverse merger I think I’ll ever see. Enjoy the ride. pic.twitter.com/nfb72lfqmp
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Last Monday TXTM announced Republic of South Africa Medical Marijuana Dispensaries Acquisitions LLC closed on the acquisition of Protext Mobility, Inc (OTC PINK: TXTM) in a share exchange whereby 100% of capital stock in RSAMMDA.LLC will be exchanged for Preferred Stock in Protext. RSAMMDA.LLC. is a jointly owned company focused on acquisitions with two principals, Mr. Dylon Du Plooy and Dr. Ahmed Jamaloodeen (“Dr. J”) who represent the South African business entities of RSAMMD and Leeds Boerdery. RSAMMD is a South African pioneer in the research, cultivation, production and distribution of medical cannabis and cannabinoids. Leeds Boerdery, controlled by Dr. J, owns the 5000 Hectacre New Castle Farm as well as federally issued cannabis and hemp licenses issued by the Government of South Africa. RSAMMD management have taken over the daily operations of Protext headed by Mr. Du Plooy as CEO and Director, and Dr. Jamaloodeen as President and Chairman of the Board.
Mr. Dylon Du Plooy, Protext CEO and Principal of RSAMMD.LLC, commented, “This transaction has been a long time in the making. For the past couple years, we have been focused on building our operations in South Africa and globally, where have built an extensive infrastructure and global cannabis/hemp business. During this period of time, we have invested heavily in building a significant cannabis/hemp operation to facilitate complete seed to sale, R&D, global off-take agreements for end product as well as all the extraction infrastructure needed to create what we believe to be some of the highest quality hemp and cannabis on the planet. In South Africa right now, we have just completed our semi-annual grow. RSAMMD in Joint Venture with Leeds Boerdery, cultivated hemp and cannabis crops this past season on a combined 1000+ hectacres. All of this is done under federally issued permits and licenses to grow, import/export hemp and cannabis, as well as research permits for conducting testing of final products for human consumption and medicinal benefits. Over the coming days and weeks, we will be sharing our immediate term road map and long-term plans we are developing for Protext which should translate into increasing shareholder value. These plans include adding other valuable assets to the company which complement the core business, and executing on commercializing the proprietary live plant extraction technology as well as deploying our crypto platform, with a TXTM token which we are excited to rollout very soon.”
$TXTM@RSAMMD@ProtextP REPUBLIC OF SOUTH AFRICA MEDICAL MARIJUANA DISPENSARIES ACQUISITIONS LLC (RSAMMDA) TO DISCUSS ITS RECENT ACQUISITION OF PROTEXT MOBILITY, INC. (TXTM) AT THE EMERGING GROWTH CONFERENCE WEDNESDAY JUNE 22, 2022 12:30PM EST https://t.co/B7t5KcuZt8pic.twitter.com/Qv0mROAu7R
Currently trading at a $121 million total market valuation TXTM has 7,831,465,506 shares outstanding. The stock is among the most explosive in small caps making double digit gains while the DOW dropped 3,000 points in a week. TXTM had an enormous week last week and some think it’s just the beginning for TXTM already being called the one to revitalize the OTCs and bring the volume back. Last week TXTM consummated the reverse merger when RSA Medical Marijuana Dispensaries RSAMMD™ a south African Company that states on their website they produced 35,000 kilograms of cannabis on 1,000 hectares plot sitting on a 5,000-hectare farm with a lot of room for expansion. While this is big news there is no doubt about especially considering 35,000 kilograms of cannabis is worth about $85 million nobody expected TXTM to just keep going every day running 1,000% since we predicted a big week ahead last Sunday with our article: “Gearing Up for Enormous Week After RSA Medical Marijuana Dispensaries RSAMMD™ Tweets it has Closed on the Acquisition of TXTM” But TXTM did keep going. Considering the power TXTM showed us last week I would not count this one out by a long shot, TXTM could easily go way higher and fast. Microcapdaily will be covering TXTM / RSAMMD as it happens so make sure you subscribe to Microcapdaily.
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Disclosure: we hold no position in TXTM either long or short and we have not been compensated for this article.
MMTec, Inc. (NASDAQ: MTC) ended the day at $2.0700 with a gain of $0.5800 (+38.93%). The stock prices fluctuated between $1.4000 – $2.5299, with more than 2.98M shares exchanging hands.
So why did MTC surge today ?
The failure of Silicon Valley Bank led to a sell-off in equities and a shift to safe-haven assets, such as US Treasuries and gold. Markets have calmed down somewhat, and the worst of the equity sell-off seems to be over. However, the market anticipates that the markets will be somewhat uneasy until a better understanding of inflation is reached and what the Federal Reserve will do next week.
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Despite most investors currently avoiding the banking sector, Wall Street sees potential opportunities, particularly in regional banks. The chaos in the market has created opportunities in the industry and several banking stocks are being punished just for being a banking stock. The collapse of Silicon Valley Bank was due to its specialisation in venture-capital financing, which made it vulnerable to the higher interest rate regime of the past 12 months.
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Therfore, today’s gains in MTC seems to be more a sympathy bounce considering the overall banking sector. Earlier in March, MMTEC, Inc. (Nasdaq: MTC) declared that it will relocate its operations from Beijing to the Hong Kong Special Administrative Region, effective March 6, 2023. The Company’s subsidiary, MM Future Technology Limited, which is a Hong Kong incorporated limited company, will assume all operations previously conducted by its subsidiary, Gujia (Beijing) Technology Co., Ltd. However, Gujia will continue to carry out specific technical research and development functions. Further, the Company, through its subsidiary HC Securities (HK) Limited, and other entities, will continue to invest its human resources in asset management and securities underwriting, and other related businesses, aiming to attract global funds to invest in the Chinese market and support China’s economic growth. The Company’s new operations headquarters is located at Room 2302, 23rd Floor, FWD Financial Center, 308 Des Voeux Road Central, Sheung Wan, Hong Kong.
We will be updating on MTC when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MTC.
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Disclosure: We have no position in MTC and have not been compensated for this article.
Cazoo Group Ltd (NASDAQ: CZOO) last traded at $2.62, a gain of +0.6400 (+32.32%). More than 5M shares exchanged hands compared to an average daily volume of 228K shares. Considering that the 52 week high of CZOO is more than 65$, there seems to be a lot of room to the upside.
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Why did CZOO surge last week? Welcome to the Carvana of the UK!
Cazoo, a publicly traded company (NYSE: CZOO), was founded in 2018 by serial entrepreneur Alex Chesterman OBE. The company’s mission is to revolutionize the UK’s car buying and selling experience by offering consumers better selection, value, transparency, convenience, and peace of mind. Cazoo’s goal is to make the car buying or selling process as simple as purchasing any other product online. The company enables customers to buy, sell, or finance a car entirely online, with delivery or collection available in as little as 72 hours.
Recently, Cazoo Group Ltd, the UK’s leading online car retailer, updated its business performance and progress with the restructuring announced in January. The CEO, Alex Chesterman, expressed satisfaction with the progress made so far in 2023, despite the challenging economic environment. The company has taken swift and decisive management action to restructure the group, improve unit economics, and reduce fixed costs. The rightsizing of headcount and operational footprint is well underway, and the company expects to complete the restructuring before the end of Q1 2023. The company has seen significant improvement in its GPU, with retail GPU tracking at approximately £900, up from £600 in Q4 2022. Cazoo has sold over 100,000 cars entirely online in the UK in the three years since its launch. The company remains fully focused on driving higher profitability and has appointed Jonathan Dunkley as Chief Operating Officer. Cazoo’s cash reserves remain strong, and the company expects to achieve profitability without external funding until H2 2024. The company expects to end 2023 with over £100m of cash and cash equivalents on its balance sheet and sell 40,000-50,000 UK retail units in the current year.
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The online car market in the UK has been growing rapidly in recent years, driven by increasing consumer demand for convenience and transparency in the car buying process. Online car retailers such as Cazoo, Carzam, and Cinch have emerged as major players in the market, offering a wide selection of used cars for sale online with home delivery or pickup options. These companies use advanced technology to provide customers with a seamless buying experience, including virtual vehicle inspections, transparent pricing, and easy financing options. The COVID-19 pandemic has further accelerated the shift towards online car buying as consumers seek to avoid in-person interactions and dealerships adapt to new ways of doing business.
So if CZOO learns from Carvana’s mistake, there is little to no doubt that CZOO could be the talk of the town in days to come. We will be updating on CZOO when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with CZOO.
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Disclosure: we hold no position in CZOO, either long or short, and we have not been compensated for this article
Shares of Ocean Biomedical (NASDAQ:OCEA) surged more than 100% on Thursday, following a talk by the company’s scientific co-founder, Dr. Jack A. Elias, at Brown University’s Legorreta Cancer Center. The preclinical-stage biotech, which went public on the NASDAQ on February 15, focuses on developing novel treatments for deadly diseases, including malaria, multiple cancers, and pulmonary fibrosis.
During the talk, Dr. Elias presented exciting details about potential therapies to suppress tumors in various cancers, focusing on the company’s work in understanding the role of the protein Chitinase 3-like-1 (CHI3LI) in the progression of lung cancer. He also discussed his discoveries on how certain monospecific and bispecific antibodies can be used as therapies to treat non-small cell lung cancer (NSCLC) and glioblastoma multiforme (GBM). The company aims to expedite these findings into phase 1 trials.
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The excitement over this preliminary news stems from the large target groups for both diseases. According to Cancer.net statistics, NSCLC is the leading cause of cancer death and the second-most diagnosed cancer in the US, affecting around 236,740 people. GBM is the most common primary brain tumor in adults, with an average survival period of just 15 months and no cure.
The recent surge in Ocean Biomedical’s shares also comes on the heels of an announcement on February 28 that co-founder Dr. Jonathan Kurtis had been awarded a patent for the discovery of the third parasite target PfCDPK-5. This target has the potential to be used to halt the malaria parasite in various stages of its cycle, opening up new possibilities for treating this deadly disease.
Ocean Biomedical’s focus on developing novel treatments for deadly diseases and its recent exciting findings have generated significant investor interest. However, it is important to note that investing in preclinical-stage biotech companies carries a high level of risk. There is no guarantee that these discoveries will translate into effective treatments or that the company will receive regulatory approval.
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Nevertheless, the positive developments from Ocean Biomedical are a significant milestone and hold great promise for patients suffering from deadly diseases such as cancer and malaria. If the company’s discoveries prove successful in further clinical trials, they could potentially generate significant revenue and transform the standard of care for these diseases. We will be updating on OCEA when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with OCEA.
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Disclosure: we hold no position in OCEA, either long or short, and we have not been compensated for this article