Traders who love beverage stocks thought they were getting a jump on the penny stock of Puget Technologies Inc. (OTCBB:PUGE) who recently acquired all the assets of B-29 Energy Drink. Proving to have been a wise move since Monday, a special gift was added to PUGE stock when the Company announced it was entering the growing medical marijuana industry by forming Cannabis BioTech. Thanks to Thomas E. Puzzo who helped get Puget up off the ground with their S-1 filing in January, 2012, those in already can rest assured the green is going to keep coming on this one well into October.
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PUGE Stock Quote
Market Cap: 62.48M
Last: 1.47 ▲ 0+0.07 (+5.00%)
Dollar Volume: $84,511
Issued and Outstanding: 42,500,000
Ronald Leyland: 15,000,000
14-Day Rel Strength: 79.42%
1st Resistance Point: 1.50
1st Support Level: 1.43
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The combination that Puget Technologies has put together with Ronald Leyland leading the way is pretty perfect. You have a start up enterprise with B-29 Energy which hopes to give consumers the few extra hours needed to get things done and/or fuel their active lifestyle while Cannabis Biotech will be pushing to forge new frontiers in cannabinoid research and distribution. You want up, they got it. You want down, they got it – or atleast they plan to have it.
Back on August 9th, Puget Technologies agreed to borrow money from Shield Investments, Inc. to the extent of $1,250,000. For each time the Company draws on their limited amount, they will owe 12% per annum on the amount, payable 1 year after the date of indebtedness. Rest assured, this means simply that an entity was created whereby shares of PUGE stock could be purchased for an amount much less than the current PPS and allow for a proper promotion to occur.
In the meantime, the focus will be, for the most part, on potheads who don’t want to smoke dope. In their PR statement issued prior to the open on Monday, Leyland stated that “We are confident our new subsidiary will fill a void in this rapidly increasing market among many medical marijuana license holders who have no desire to ‘smoke pot. Patients will feel comfortable using our products because great care will be taken to determine proper dosages and protocols, ensuring strict quality standards.”
The B-29 Energy can’t really be the focus of attention when it had just $700 in cash and a $1 intangible asset as of June 30, 2013.
In a nut shell, it means that lollipops and candy canes are sure to be the attraction which will undoubtedly make Cannabis BioTech a success among the rest of the marijuana stocks. It also means that PUGE stock is on alert for those who aren’t already all over it in anticipation of some major attention coming towards it.
About PUGE Stock
Puget Technologies, Inc. s a development stage company which has entered both the beverage industry, trough their acquisition of B-29 Energy, Inc., and into the medical marijuana industry through the creation of Cannabis BioTech.
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Make PUGE your newest addition to the list of penny stocks to watch. Unless you have been smoking meth for the last 18 months, marijuana stocks are hot, or atleast tend to be, and PUGE stock makes for a great addition to the list and play for the moment, especially since Puzzo has brought so many wonderful plays to traders in recent months.
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