Thursday could be “Penny Stock Alert Redemption Day” for Cohen & Co. as it appears that Emperial Americas Inc. (TEXX) could be in for a huge trading session. TEXX stock price is set to begin the session at 0.10 after dropping 6 cents in yesterday’s trading session, -37.50%, on volume of just 301,166. The branded alcoholic beverage company makes money, lots, and is looking to purchase a stake in Imperial Beverage Group, Inc., one of the largest licensed alcohol distributors in Texas.
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TEXX Stock Chart
As of March 31, 2012, there were 111,672,160 shares of the issuer’s common stock issued and outstanding. Affiliates of the issuer own 90,000,000 shares of the issuer’s issued and outstanding common stock and the remaining 21,672,160 shares are held by non-affiliates. The aggregate market value of the shares held by non-affiliates at March 31, 2012 was $225,321.
Emperial Americas is a brand new company via reverse merger. On December 1, 2011, Queste Capital agreed purchase 95% of AAA Public Adjusting Group, Inc. for $300,000 which would have resulted in Queste owning 95% of the issued and outstanding shares of common stock. On March 16, 2012, Christopher Lombardi, President and Chief Executive Officer of AAA Public Adjusting Group, Inc. terminated the agreement.
The agreement was terminated because On March 12, 2012, Emperial Americas, Inc. and Victory Partners, LLC purchased 3,000,000 of the outstanding common shares of AAA Public Adjusting Group, Inc., for a majority control by Victory Partners purchasing 1,500,000 shares from Liane Hassan and 1,500,000 shares from Frederick Antonelli in a private share purchase agreement. The purchase was made for $200,000 by Victory Partners.
Three days later, on March 15, 2012, the Corporation was changed to Emperial Americas, Inc. and filed the name change formulation of corporate action with FINRA, as well as the change of CUSIP and symbol change. Furthermore, Alonzo Pierce was appointed Chief Executive Officer, President and Director of the Company, Bruce Klein was appointed to be Corporate Secretary, Chief Operating Officer and Director, Mr. Joel Contreras, was appointed to the Board of Directors, while Mr. Todd Waggoner was appointed Treasurer and Chief Financial Officer.
Mr. Christopher Lombardi, of Florida Claims Consultants, and as a remaining director would remain as an independent director to the Corporation.
To view the SEC filings for TEXX, click here.
About TEXX Stock
Emperial Americas has been a Corporation domesticated in Florida. Emperial Americas, Inc. commenced operations in Houston, TX -December 2008. Previously, Emperial Americas existed under Emperial, LLC (July 2008). As a brand owner of self developed alcoholic beverages, it also imports, markets and sells beverages throughout its designated markets in the U.S. with a particular emphasis on Texas and Florida.. The company owns its brands or, has the exclusive rights and trademarks to act as the U.S. importer of the brands in its portfolio. Emperial Americas engages in the business of importing alcoholic beverages to distributors in the U.S. on a national basis. The company is federally licensed, maintaining the rights to both import and sell to distributors in 51 markets within the U.S.
Bottom Line: TEXX and IDOI are the penny stocks of the day and the only thing out there with some kick behind them. IDOI may be the longer play, but TEXX stock is best played as a morning to mid-afternoon play.
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