Its game on for what many are hoping will be the best pick ever from Awesome Penny Stocks and crew: Swingplane Ventures, Inc. (SWVI). Traders did their best to try to get in front of any possible alerts expected to be issued today by grabbing starter positions. The result was a failed attempt at trying to best the best pumpers at their own game when huge blocks began trading at the end of the session and into the after-market sending the price down to as low as 0.10 at one point. An early bottom line for those with A.D.D. — get SWVI stock on your radar before the open or pay the price at the pump.
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SWVI Stock Chart
Market Cap: 80.42M
Last: 0.1702 ▼ -0.1298 (-43.27%)
Dollar Volume: $2,623,992
Issued and Outstanding: 235,000,000
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Swingplane Ventures announced, prior to the open on Tuesday, the renegotiation of their agreement to acquire certain mining concessions in Chile. As per the 8-K/A filed last night, the entire terms pursuant to the the acquisition agreement will be as follows:
(i) the Company and the shareholders of Mid Americas will enter into a Share Exchange Agreement whereby the shareholders of Mid Americas will exchange their Mid Americas shares for a total of 100,000,000 shares of common stock of the Company and 5,000,000 shares of preferred stock of the Company. The preferred stock will be convertible into shares of common stock of the Company on the basis of 50 shares of common stock for each 1 share of preferred stock. The preferred stock will carry voting rights of 100 shares per each share of preferred stock.
(ii) the cancellation of a total of 337,500,000 of its common stock currently held by the Company’s sole officer and director (this action has taken place);
(iii) file a registration statement with the requisite regulatory authorities to raise up to $10,000,000 by way of the sale of up to 40,000,000 shares of the common stock of Swingplane, of which no less than seventy-five percent of the funds raised under such registration statement shall be used to fund the required payments under the Original Property Agreement and the Amendments thereto.
Translation: Game on for SWVI stock as witnessed at the last 30 minutes before the closing bell and the 15 minutes after it.
Having previously reported 472,500,000 shares outstanding, the cancellation of 337,500,000 shares owned by Michael Voyer, sole director and officer of Swingplane Ventures, Inc. , he is left with 12,500,000 shares. With 100,000,000 shares issued to Mid Americas, the new total number of shares outstanding is 235,000,000. This allows for SWVI stock to be used during the promotional campaign and beyond to be issued in the form of notes payable and such in order to acquire mining equipment, which the company lacks, or to hire an outside firm to do the dirty work for them.
Either way, all that matters is that 1.5 million and 2 million share blocks of SWVI stock traded just after the market close which is a green light for those looking for the next Awesome Penny Stock.
About SWVI Stock
Swingplane Ventures, Inc. is a development company focused on mining concessions in Chile. Click here to view the SEC filings for SWVI.
Last 5 Trading Sessions:
Bottom Line: Think long, think wrong when it comes to the open today on the next Awesome Penny Stocks pick which the consensus assumes is SWVI. The drop in share price on SWVI stock on Tuesday, coupled with the late volume, proves that you can’t teach your father how to make a baby. Translation: No Front Loaders!
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