The first four months of 2014 proved to be terrible for the penny stock of OBJ Enterprises, Inc. (OBJE) as shares slid from 0.36 to as low as 0.04. Momentum quickly shifted towards the positive after the social games start-up designers entered into a Joint Venture Agreement with Great Outdoors, LLC in mid-May and OBJE shares rose to 0.17 over a 5 week run. Now that the Company has officially changed over it’s name and ticker to MyGo Games Holding Co. (MYGG) and begun to show some revenues, a slow resurgence back into the mid-teens with MYGG stock could prove to be a mini-play for traders to “GO Hunting” for.
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MYGG Stock Quote
Market Cap: 5.23M
Last: 0.0695 (unch)
Dollar Volume: $1,078
14-Day RSI: 36.58%
1st Resistance Point: 0.0717
1st Support Level: 0.0652
52Wk High: 0.72
52Wk Low: 0.04
The switch over to a Company name that better suited a social media games provider from Obscene Jeans to Obscene Interactive to now MyGo Games Holding Co. has been a long time coming and should better suit the “niche audience targeted” developers a chance to hit the reset button. Throughout the course of 2014, MyGo Games has been making the behind the scenes moves necessary to be interactively accessible, the most recent of which was appointing Daniel J. Hammett as a director and Chairman of the Board of Directors.
Revenues beginning to show up on the books of MyGo Games is another positive sign, together with the name and ticker symbol change, even though the total amount booked from their small, and very limited audience that would want to download and actively play a hunting game. To go along with the now $1,065 in software sales for the 9 months ended May 31, 2014, another indicator that getting into MYGG at the current levels appears safe is that roughly 99% of the convertible notes payable on the books, about $950,000, is all due to be converted at $0.05 per share.
The increase in authorized shares that coincided with the acquisition of My Go Games, LLC to go from 100 million to 250 million indicates that both the convertible notes at $0.05 will likely be distributed in the coming future and the possibility of one or two more acquisitions of similar companies to be added to the subsidiaries list could also be on the horizon. Seeing as how the run from 0.04 to 0.17 managed to occur in small batches well under 1,000,000 shares traded during any session, a run for MYGG stock to the mid-teens prior to the next Q filing would be a simple way to GO Hunting for a free chicken dinner off a gamble of couple hundred bucks.
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About MYGG Stock
MyGo Games Holding Co., fka OBJ Enterprises, Inc., is a development stage, global, online, ethical action game developer and publisher building a portfolio of popular gaming titles crafted to appeal to a broad audience of consumers all over the world.
Issued and Outstanding: 75,313,465
Last 5 Trading Sessions:
A bounce off of these recent lows is likely to come in very small increments now that MYGG has finally dropped OBJE as their ticker symbol. Although you won’t be seeing MYGG stock listed in the top 20 traded penny stocks at anytime in the near future, a session whereby volume exceeds 1,000,000 would be the opportunity for those willing to GO Hunting for a small gamble would be cashing in with their scores.