Coverage is presently at an all time high on the penny stock of The Wiki Group Inc. (OTC: TWGI) after Peter M. Vita was named President of Worldwide Sales last week. Coming off a banner year when the financial solutions Company was on pace to report a 300% increase in sales during 2012, from $1,052 to $4,394 as of October 31, 2012, the bar Vita must meet or beat has been set high. Since an anonymous investment banking agreement was announced a month ago, along with 12 million plus shares of TWGI stock, it’s poised for a breakout session on Monday due mainly to lack of any better options since FARE is dead and VUME is sucking canal water.
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TWGI Stock Chart
Market Cap: 4.96M
Last: 0.039 ▲ 0.0029 (8.03%)
Dollar Volume: $20,554
Issued and Outstanding: 136,964,656
14-Day Rel Strength: 62.11%
14-Day Stochastic: 50.67%
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One month ago Monday, The Wiki Group announced the signing of a non-binding LoI to acquire Moneytech Limited, an Australian non-trading Public Company. Moneytech, a commercial finance company based in Sydney, coincidentally has the exact same image of the cute brunette on their website as does Wiki — a similarity which is highly unlikely without any direct connection.
Based on cash flows, the deal with MoneyTech can’t be all that bad, especially if the fluff about uplisting to the AMEX or NASDAQ is meant to be taken seriously. Wiki Group had a total of $66,132 in cash and equivalents as of October 31, 2012 with total liabilities of $1,124,619, $942,172 of which were convertible notes payable. The Company is, however, looking to expand having recently created two new wholly owned subsidiaries; WikiTechnologies, Inc. and Moneytech USA, Inc.
Given the fact that interest in the Company’s TWGI stock showed little to know interest from the trading community during much of 2012, Monday should be a spark of life for Wiki Group. Based on the 12 million plus shares which cross traded one month ago Monday, volume should travel well past 50 million shares to start the week allowing every possibility for the deal to be a good one.
About TWGI Stock
The Wiki Group, Inc. is an early-stage technology company dedicated to making financial transactions simple, secure, social and affordable operating in three separate categories: (i) WikiPay, a simple, low-cost alternative to existing mobile and online payment solutions; (ii) WikiBlast, a customizable mobile marketing engine; and (iii) WikiLoan, a low-cost peer-to-peer lending solution. Click here to view the SEC filings for TWGI.
Last 5 Trading Sessions:
Bottom Line: For lack of a better option, TWGI is worth having on the list of penny stocks to watch for the open on Monday. With a ceiling of around 0.10 on TWGI stock, watch for the wall of resistance to be an issue at 0.07 (if it can make it that high). With Moneytech being the “big score” in recent weeks for the Company, traders not day trading this should lookout for the PPS to go down under after Monday.
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