Ozop Surgical Corp (OTCMKTS: OZSCD) finished last week with a bang running up the charts after the Company announced Power Conversion Technologies, Inc., was reverse merging into OZSCD. PCTI operates in the very high power niche of the power electronics market, designing and manufacturing leading edge equipment for use in power conversion applications. Reverse merger plays are hot and have accounted for many of the biggest recent winners in small caps. PCTI was initially going to RM with ELTZ but that one fell through.
OZSCD is currently trading with the extra “D” at the end of the ticker symbol which will be gone in several days. The extra “D” signifies the Company completed a reverse split which was affected on February 7 1000 to 1.
Ozop Surgical Corp (OTCMKTS: OZSCD) is a relatively clean Nevada registered Corp. The Company was previously known as Newmarkt Corp. and was incorporated on July 17, 2015, under the laws of the State of Nevada. As Ozop the Companies business plan was to invent, design, develop, manufacture and distribute innovative endoscopic instruments, surgical implants, instrumentation, devices and related technologies, focused on spine, neurological and pain management procedures and specialties. Our focus is on economically disrupting the market with clinically equivalent or superior existing and new products resulting in immediate and significant savings for providers, payors and consumers.
According to the release the Company has signed a binding LOI with Power Conversion Technologies, Inc., and Catherine Chis, the President of PCTI and its sole shareholder. Pursuant to the terms of the LOI, the Company will acquire 100% of the issued and outstanding common stock of PCTI from Chis. In conjunction with the LOI, Michael Chermak and Barry Hollander resigned as Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”), respectively, and Brian Conway was named CEO and Interim CFO. Mr. Chermak remains as the sole Director of the Company.
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PCTI operates in the very high power niche of the power electronics market, designing and manufacturing leading edge equipment for use in power conversion applications. The global power electronics market size in 2017 was valued at $36 Billion and is expected to reach $51 Billion by 2023 according to MarketsandMarkets™. PCTI serves clients in several industries including energy storage, shore power, DEWs, microgrid, telecommunications, military, transportation, renewable energy, aerospace and mission critical defense systems. PCTI’s clients include Fortune 500 companies, all branches of the US Department of Defense including the US Army and the US Air Force, NASA as well as other global military organizations.
Great news! https://t.co/C9IWrsyunV
— PCTI.com (@power_conv_tech) February 28, 2020
PCTI has supplied equipment for energy storage applications since 1991 and is well positioned to capitalize on the explosive growth of the mass utility scale energy storage market by leveraging its expertise and market reputation. The utility scale energy storage industry is expected to grow tenfold by 2024 to reach $74 Billion according to Wood McKenzie Power & Renewable.
Catherine Chis stated, “After 28 years in the private sector, PCTI looks forward to the opportunities that going public will provide to capitalize on our reputation, experience and product mix and expand further into markets such as mass scale energy storage, microgrids and shore power.”
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Currently making a fast move up the charts OZSCD is a relatively clean shell and a good candidate for the just announced Power Conversion Technologies, Inc., reverse merger into the Company. PCTI is a major player in the very high power niche of the power electronics market, designing and manufacturing leading edge equipment for use in power conversion applications with a number of products and a powerful management team behind it. PCTI was initially going to RM with ELTZ but that one fell through. Reverse merger plays are hot and have accounted for many of the biggest recent winners in small caps. While speculators knew about and bid up most recent RMs in small caps before the actual RM was announced OZSCD did it the right way. The stock has quickly attracted a fast growing shareholder base who sees this one as just getting started. We will be updating on OZSCD when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with OZSCD.
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Disclosure: we hold no position in OZSCD either long or short and we have not been compensated for this article.