SITO | Single Touch Systems Could Start Another Bull Run

SITO Stock, Single Touch SystemsShares of mobile media solutions provider Single Touch Systems Inc (SITO) have lit a spark this week after closing a $3 million financing deal with Taglich Brothers. The company lit the fuse today on their penny stock by consolidating their IP assets in a new wholly owned subsidiary, Single Touch Interactive R&D IP, Inc. The reaction has caused for SITO stock to jump nearly 3.5 cents from yesterday’s close and could be entering into another bull run.

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SITO, Single Touch SystemsSITO Stock Chart

Market Cap: 37.55M
Last: 0.284, up 0.034 (13.60%)
Volume: 128,300
Dollar Volume: $33,694
High: 0.2849
Low: 0.235
Trades: 24
Average Trade Size: 5,345
Authorized: 200,000,000
Issued and Outstanding: 132,232,392

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With the increased sales of iPhones, iPads and other various smart-connected devices, Single Touch Systems has capitalized quite well on that market with their multi-channel messaging gateway which allows marketers to reach their targeted market on any level. Sales for the Company for the three and nine months ended June 30, 2012 were $1,585,195 and $4,729,691, respectively, versus $1,154,710 and $3,200,143 for the same three and nine month periods in 2011, respectively. The growth in sales of over $1.5 million for the nine months ended periods is easily attributable to the growth in smartphones and tablet users coupled with companies learning how important reaching their target customers is.

Back in July of this year, SITO stock had a strong run after the announcement of their three and nine month financials. The penny stock ran from 0.15 in mid-July to as high as .419 by mid-August, a 179% gain. The small spurt today has thrown the stock price back between the 50 and 200 day moving averages, 0.30 and 0.27 respectively, and is a clear indication that SITO is about to have another launch in the coming weeks.

About SITO Stock

Single Touch Systems, Inc. is an innovative mobile media solutions provider serving retailers, advertisers and brands. Through patented technologies and a modular, adaptable platform, our multi-channel messaging gateway enables marketers to reach consumers on all types of connected devices, with information that engages interest, drives transactions and strengthens relationships and loyalty. Their solution is designed to drive return on investment for high-volume clients and/or customized branded advertisers.

Click here to view the SEC filings for SITO.

Bottom Line: SITO should be in the list of penny stocks to watch, specifically for their upcoming 10-K. with strong numbers coming in and some healthy trading between now and then, SITO could be setting itself up to challenge its 52-week high set back in August, .4189.

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