Circulations are making their way around today calling for some heavy buying on the penny stock of CIG Wireless Corp. (CIGW) while it’s still under $2. The non-syndicated PR issuing wireless service tower owners haven’t made it a point in over a year to get their message across of the multiple acquisitions they have made in the last 8 months. With their secret out now, thanks mainly to the Contrarian Wealth Coalition report, CIGW stock is in somewhat of a spotlight now and worth a deeper look.
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CIGW Stock Quote
Market Cap: 126.06M
Last: 1.90 ▲ +0.01 (+0.53%)
Dollar Volume: $1,900
Avg Volume (3m): 15,102
Issued and Outstanding: 66,346,749
Fir Tree Group: 35,645,626
14-Day Rel Strength: 57.24%
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Spanning the U.S. from Georgia to California, CIG Wireless had been on a trail of acquisitions during the 2nd half of 2013 which could prove to be very lucrative to their top-line numbers during this year and beyond. Under the supervision of CEO Paul McGinn, CIG managed to acquire:
• 6 telecommunications towers from ClearTalk (June, 2013);
• 6 towers from NTCH-Colorado, LLC with the potential for an additional 8 towers (June, 2013);
• 28 towers from Southern Tower Antenna Rental, L.L.C. (STAR) (August, 2013);
• Liberty Towers, LLC consisting primarily of 38 fully constructed towers and 252 work-in-progress sites (August, 2013);
• Towers of Texas, Ltd. primarily consisting of 19 communication towers and related assets (September, 2013); and
• 1 additional tower from Southern Tower Antenna Rental, L.L.C. (STAR) (September, 2013)
On top of that, CIG Wireless banked $35 million by selling preferred shares of CIGW stock to the Fir Tree Group (Fir Tree Inc., Fir Tree Capital Opportunity (LN) Master Fund, L.P. and Fir Tree REF III Tower LLC) who, as of January 2, 2014, own 53.7% of the 66,346,749 shares of CIGW common stock deemed issued and outstanding as of that date. The financing deal which allowed for the rapid expansion of CIG Wireless helped their balance sheet grow from $27,252,361 on December 31, 2012 to $69,024,516 on September 30, 2013 with approximately $31 million of that growth all being additions to Property, Plant & Equipment, aka the new towers.
Noting that the acquisitions took place between June and September of last year, expectations should run high for Q4 revenues to be much larger than the $965,723 and $2,043,875 the Company had booked for the 3 and 9 months ended September 30, 2013.
As it stands now, volume on CIGW stock is extremely low with more than 40,000 shares traded having only occurred once this year. However, now that the cat is out of the bag, CIGW could see some more attentive eyes from those looking for your “brick and mortar” type company’s.
About CIGW Stock
CIG Wireless Corp. and its subsidiaries develops, operates and owns wireless and broadcast communication towers in the United States. The Company’s business consists of leasing antenna space on multi-tenant communication sites to wireless service providers.
Last 5 Trading Sessions:
Technically, CIGW isn’t considered to be a penny stock based on the type of tickers we cover here. Be that as it may, exposure to any solid company with a historic track record from management to have succeeded in their industry in the past makes CIGW stock a safer bet if it can get up and stay above $2.
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