Confucius once said: “Low float makes for big waves.” Ok, maybe he didn’t say that, but waves of buying are due to continue to smack the ask of ProText Mobility, Inc. (TXTM) after their huge reverse split. Although the designers of mobile solution which stop your kids from sexting or being bullied, a system which monitors and manages your employees’ mobile phone devices and also stops drivers from texting so hey don’t get distracted are virtually broke, they did do one very smart thing last year. After a 1-for-800 reverse split the mobile communications application innovators put into place last month effectively removes the “D” today, TXTM stock is due to see continued bullying by bidders and askers.
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TXTM Stock Quote
Market Cap: ??
Last: 0.08 ▲ +0.025 (+45.45%)
Volume: 1,113,639
Dollar Volume: $71,608
Open: 0.044
High: 0.088
Low: 0.044
Trades: 92
Authorized: 10,000,000,000
Issued and Outstanding: 2,315,746
14-Day Rel Strength: 51.26%
1st Resistance Point: 0.0973
1st Support Level: 0.0533
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From a business point of view, Protect Mobility has failed miserably if you judge them solely on their lack of revenues. While it’s pretty important to bring money in the door, penny stock traders care more about floats and whose holding issued and outstanding shares more then they do about whether the company will succeed or not.
What was a very smart thing to do was Protect Mobility converted a decent portion of their debt to shares prior to the reverse split which brought down their convertibles to $1,312,993. Although it tough to workout if there is 1,070,427 shares of TXTM stock issued and outstanding (856,342,092/800) or if the 2,315,746 OTCMarkets reports is the right amount, the increase in authorized shares from 950,000,000 to 10,000,000,000 is a tell tale sign that subpenny land is where TXTM is going to wind up before the year’s over.
Protext Mobility announced yesterday that they struck a distribution deal with New York based Bay Ridge Honda, Bay Ridge Volvo, and Bay Ridge Volkswagen to offer their customers the OBD-II distracted driving solution via displays around the showrooms. Figuring what declined options every new car buyer rejects when they try to add on features at the dealer, even though the OBD-II is going to be offered at one of New York’s premier Auto-Dealership groups which accounted for over 6,000 vehicles sold last year, what’s the chances that 10% buys a gadget that blocks text messages while driving.
Buy something which replaces the silent mode or switching your phone into flight mode? And this is New York we’re talking about here – the city that doesn’t sleep.
To think that this deal is the reason why TXTM stock cold see some serious action is foolish. ProText Mobility booked a whopping $0 and $600 in revenues for the 3 and 9 months ended September 30, 2013. The chances that they double the $600 they booked in 9 months due to the Bay Ridge deal is about as good as it could get for them.
No, the reason why TXTM stock is worth tracking closely today is because a) the “D” is officially removed and b) the issued and outstanding shares are so damn small that a pigeon’s fart could be enough momentum to shift the bid/ask so far that double digit gains after the gap is filled are virtually inevitable.
About TXTM Stock
ProText Mobility, Inc., a development stage company, develops, markets and sells software solutions for the mobile communications market primarily aimed at protecting children from dangers derived from mobile communications and mobile device use.
Click here to view the SEC filings for TXTM.
Click here to view the website for ProText Mobility.
Last 5 Trading Sessions:
| Date | Open | High | Low | Last | Change | % Change | Volume |
| 03/19/14 | 0.0440 | 0.0880 | 0.0440 | 0.0800 | +0.0250 | +45.45% | 1,113,600 |
| 03/18/14 | 0.0449 | 0.0550 | 0.0300 | 0.0550 | +0.0210 | +61.76% | 260,900 |
| 03/17/14 | 0.0350 | 0.0450 | 0.0335 | 0.0340 | -0.0060 | -15.00% | 241,600 |
| 03/14/14 | 0.0300 | 0.0400 | 0.0250 | 0.0400 | +0.0100 | +33.33% | 165,900 |
| 03/13/14 | 0.0360 | 0.0400 | 0.0200 | 0.0300 | -0.0060 | -16.67% | 628,400 |
Bottom Line:
Depending on how big the gap is at the open, TXTM could be a great penny stock to trade today. When the reverse split was put into effect, well more than the issued and outstanding TXTM stock traded which can only indicate that seeing more than 2,000,000 shares trade would indicate the float is not real and dilution is due to come.
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