Another penny stock which was incubated with the legal assistance of Thomas E. Puzzo, PLLC, Mobile Lads Corp. (MOBO), has wasted no time whatsoever at making sure investors are aware of their developing technology in the mobile payments sector. Although the $50,000 spent to get the word out about MOBO stock hasn’t yet made a dent in the type of volume expected for such a fee, shares did make a move towards to upside on Monday and look to continue the pattern into today’s trading session. Based on the legal connection and the 55-for-1 split effectuated 4 months ago on a start up company which just a year ago filed their S-1, it will be interesting to see what Michael Anthony Paul and Alpha Pang can pull together having had just $3,380 in the bank as of their last Q filing.
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MOBO Stock Quote
Market Cap: 70.07M
Last: 0.30 ▲ +0.01 (+3.45%)
Dollar Volume: under $5,000
14-Day RSI: N/A
1st Resistance Point: 0.3467
1st Support Level: 0.2067
52Wk High: 0.30
52Wk Low: 0.16
Mobile Lads’ vision is to be a leading edge wireless solutions organization became a bit more real today after the Company announced their intentions on acquiring the $9,000,000 worth of Xtreme Mobility Assets from 7611544 Canada Corp. The deal would give the start up firm a methodology to verify a transaction via a secure two way verification process on a mobile device which could one day make their xmBilling and xmOne products of use among the plethora of functioning mobile payment services that are already well established.
The involvement of Alpha Pang puts a sour taste into the mouth of those doing their due diligence on MOBO stock based on the fact that shortly after his stint as a director and the CFO of Angstrom Microsystems Inc. (AGMS), the SEC temporarily suspended AGMS stock due to a lack of current and accurate information about the companies because they have not filed certain periodic reports with the Commission. Although the suspension did occur after Pang’s departure (according to the resume provided within the Mobile Lads announcement), getting stock blocked by the SEC has become an event which has created gun shy investors over the last few months.
The concern is how long the purchaser of the 746,667 shares of MOBO stock for cash proceeds of $22,400, $0.03 per share, prior to the 55-for-1 split can hold out before getting paid. After the split took effect, the 746,667 shares which no 8-k or Reg D was filed for, are now 41,066,685 with a cost basis of just 0.000545 per share. Don’t you just love it when Thomas E. Puzzo, PLLC helps to take you public.
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About MOBO Stock
Mobile Lads Corp. is a development stage company focused on marketing products and services using short message service (SMS) technology.
Authorized: Supposed to be 75,000,000
Issued and Outstanding: 233,566,685
Last 5 Trading Sessions:
MOBO currently has the largest budget among the penny stocks being alerted on by various groups. With $50,000 to play with and yesterday’s kickoff party bring in less than $5,000 in dollar volume, it will be a hard pressed run for MOBO stock to stay at this level before payment of services is deemed due by the hiring party.