With a new year and possible new tax laws closing in, traders will have to make the most of their investments, more so than ever, by making sure to be well in front of the expected rallies on penny stocks for 2013. One IPO many OTC investors will be watching for in January will be iTalk Inc. (TALK) which just changed its share structure and corporate leader. Banking on the once popular iPod Touch by Apple Inc. (AAPL), TALK stock could become the “talk of the town” assuming the product comes to market and their new CEO and President, David Levy, can steer the start up Company in the same direction of revenue generation SubMicron Systems Corporation (SUBM) went to in the mid 90’s.
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TALK Stock Structure
Market Cap: Unknown
Forward Stock Split: 25-for-1
Issued and Outstanding: 42,500,000
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The announcement came out just over a week ago that Levy had been appointed as the President, CEO, Secretary and Director of Sopac Cellular Solutions Inc. (SOPC) which included a link to the website of the newly formed entity. iTalk Inc. It appears that the focus is going to be to bring to market a $69.99 adapter that plugs into your 3rd or 4th generation iPod Touch and allows it to work as a phone wherever there is WiFi connectivity. For as low as $9.99 a month, users will be able to then select a data call plan which matched their needs. The adapter, the iTalk Sleeve, slips onto the iPod Touch just like putting on an iPhone cover.
While the device sounds quite a bit like the solar charger casing that Domark International (DOMK), aka Solarwerks, remodeled and reused from the iPod craze and adapted for the iPad/iPhone craze earlier this year, how many 3rd and 4th generation iPods still exist and have a use for this type of product/service? More importantly, does the 60+ year old Levy still have it in him to drive forth a start up that had a cash balance as of August 31, 2012 of just $1,578 and $52,535 worth of outstanding liabilities, $49,965 of which are due to Eric E. Ezra, the former sole director.
In one of his previous ventures, which was audited by the CPA firm of Arthur Andersen LLP to give you an idea of the time frame, Levy successfully drove SubMicron Systems Corp. from a start up to a revenue generating machine. Revenues increased from $57.6 million in 1993 to as high as $171.5 million in 1997 when Levy was Chairman of the Board and Chief Executive Officer at the age of 52. SUBM stock price however did not fair as well while revenues were increasing, falling from a high of 11 7/8 in Q4, 1995 to as low as 3 41/64 in Q4 1996. (Yes you youngins, stocks weren’t always quoted in decimal points and one had to understand what fractions were to be a successful trader back then)
SubMicron Systems Corp. (SEC filings here) eventually filed Chapter 11 bankruptcy in 1999 and, in 1997 saw their revenue growth reverse full throttle to almost half, $97.9 million. Losses began to pile up in 1996 and Levy was replaced as Chairman and CEO prior to the demise of the Company and the stock. Back then it was a different ball game — technology was the new “it”, the internet was a baby, Arthur Andersen was one of the Big 6 accounting firms, and, if you didn’t perform, you were ousted. Perhaps the iTalk slip on cover which converts a 3rd or 4th generation iPod into a smartphone is going to be a big hit. One has to wonder since I don’t think I even saw an iPhone at any point during 2012 and we have 4 in our house supposedly.
About TALK Stock
iTalk Inc., fka Sopac Cellular Solutions Inc., is a technology company focused on marketing their iTalk phone adaptor. The forward split and name change became effective with the OTCBB at the opening of trading on December 21, 2012 under the symbol “SOPCD”. The “D” will be placed on the ticker symbol for 20 business days. After 20 business days, the ticker symbol will revert back to its original symbol “SOPC”. Subsequently, after 10 business days ticker symbol will change to the new symbol “TALK” to better reflect the Company’s new name. The new CUSIP number is 465353 100. Click here to view the SEC filings for TALK.
Bottom Line: While TALK is one of the penny stocks for 2013 since it won’t be until the end of January when the ticker is activated, the website is alive as a large image file at present. Although the technology is different than the one that drove DOMK stock to as $4.88 in May, TALK stock shouldn’t see near that level of price range when it does begin trading. Funds are in dire need and, beyond creative financing, share sales are the only reason why you would want to have nearly 2 billion at your disposal.
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