Swordfish Financial Inc (OTCMKTS:SWRF) is wallowing away in sub penny land in recent months on little interest from Investors. The last pop on SWRF was back in November of last year but this was followed by steady declines.
SWRF has done little to communicate with Investors; the last pr from the Company came on February 12 when they announced it was awarded a federal contract that paves way for new potential agreements with the US Government.
Vice Chairman and Chief Operations Officer, Luis Vega said “We have completed the arduous multi-step application process for bidding government contracts to include the granting of a Commercial And Government Entity code (CAGE) and culminating with winning the first of what we hope to be additional contracts with major federal agencies. Currently, we are in the process of completing a shipment under the first contract,”
Swordfish Financial Inc (OTCMKTS:SWRF) is focused on asset recovery and source funding for humanitarian and corporate transactions. The Company plans to acquire and provide funding for organizations in the currently underserved eco-friendly markets.
In early November SWRF as gone from relative obscurity to become one of the top traded stocks on the entire bb’s. Smart investors are keeping an eye on this one; SWRF used to trade as Nature Vision, Inc and was listed on the Nasdaq stock exchange, we all know how these ex big board stocks love to make spectacular runs once on the bb’s.
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On September 26, 2014 SWRF put out an 8k that stated ”On September 23, 2014, SFI and its subsidiary (to be formed) entered into a Merger Agreement with SOOUM, a corporation formed under the laws of the State of Delaware. Under the terms of the Merger Agreement, all of the SOOUM Shareholders will exchange their shares of the common stock of SOOUM with SFI in exchange for preferred stock representing an ownership interest in SFI of approximately eighty percent (80%). Upon completion of the proposed transactions, SFI will be the surviving corporation and SOOUM will be a wholly owned subsidiary of SFI. The obligation to close the transaction under the terms of the Merger Agreement is subject to the normal terms and conditions contained in such agreements.
SoOumCorp., a privately held Delaware Corporation that is focused on trading and arbitraging commodities using its proprietary technology. SoOum’s business focuses not only on bottom-line profits, but seeks to solve global commodity shortages, as they related to domestic and international manufacturing needs.
SOOUM is made up of a group of international experts with previous careers in the military, security, diplomacy, politics and finance. The Company utilizes ground operations, and rigorous analysis of global data using proprietary algorithms and risk systems.
On October 22 SWRF announced that SoOum Corp, their pending merger partner has signed two trade contracts worth in excess of $6 million US annually.
The first trade contract is an 18 month international Sugar export/import deal (Buy – Malaysia / Sell – Kyrgyz Republic) with monthly revenues ranging from $158,760 to $650,000 based upon volumes of 252 metric ton (MT) to 1,000 MT. This agreement may rollover for furtherance at the end of its term.
The second contract, again for 18 months, is a Powder Milk export/import trade (Buy – Czech Republic / Sell -Afghanistan) with monthly revenues of $375,000 with a similar 18 month agreement with a rollover clause.
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Currently drifting into oblivion on decelerating volume SWRF has little real fundamentals and significant fast rising debt that has resulted in massive dilution. The stock does have a loyal shareholder base that has supported this on in the past. We will be updating on SWRF when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with SWRF.
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Disclosure: we hold no position in SWRF either long or short and we have not been compensated for this article.