As oil prices drop below $50 for the first time in nearly a decade, the week for penny stock traders started off with Vuzix Corporation (VUZI) taking the brunt of the attention. Kicking the year off with an almost $25 million investment from Intel Corp. (NASDAQ: INTC), the supplier of video eyewear and smart glasses products, in a deal which will allow for funds to be used for general working capital and contribute to the acceleration of the introduction of the Company’s next generation wearable display products into the consumer market. While VUZI stock set a new 52 week high at $6.34 before puling back, a few other otc listed penny stocks hit scanners Monday that are worth having a look at.
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VUZI Stock Quote
|Close||5.46||Change (% Chg)||+1.25 (+29.69%)|
|EPS||-0.24||Market Cap||$57.66 M|
|52Wk High||6.34||52Wk Low||2.10|
VUZI has been one of those OTC listed penny stocks real investors have taken a liking to since the Company began trading a couple of years ago. The Company effectuated a 1 for 75 reverse split on VUZI stock back in February, 2013 which only solidified long investors’ belief that they had gotten into something that would one day become a star.
Filed shortly after the close on Friday, Vuzix Corp. detailed the transaction with Intel in an 8K filing (see here):
On January 2, 2015 (the “Closing Date”), Vuzix Corporation (the “Company”) entered into a Series A Preferred Stock Purchase Agreement (the “Purchase Agreement”) with Intel Corporation (the “Purchaser”), whereby the Company agreed to issue and sell to the Purchaser, an aggregate of 49,626 shares of the Company’s Series A Convertible Preferred Stock, par value $0.001 per share (the “Series A Preferred Stock”), at a purchase price of $500 per share, for an aggregate purchase price of $24,813,000 (the “Offering”). Each share of Series A Preferred Stock is convertible, at the option of the Purchaser, into 100 shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), at an initial conversion price of $5.00, subject to adjustment in the event of stock splits, dividends or other combinations.
With no one able to get a head start on VUZI stock yesterday, today’s interview with CEO Paul J. Travers on Fox Business News “Opening Bell” with Charles Payne at 9:50 am ET should be the chance for any of those in around yesterday’s high to find a way out. VUZI stock only once in the last 6 months saw volume as high as it did yesterday when shares peaked at $3.39 back in July, 2014.
For the 3 and 9 months ended September 30, 2014, Vuzix Corp. reported total revenues of $664,586 and $2,186,262 versus $338,816 and $1,778,195 for the same periods in 2013.
Moving to cheaper, less high profiled penny stocks, Advanced Lighting Solutions, Inc. (AVLS), 0.058, Up 0.0329 (+131.08%), set a new 52 week high for no reason anyone can figure out while Cullen Agricultural Holding Corp. (CAGZ), 0.32, Up 0.18 (+128.57%), had a huge gain on low volume, 67,900, after it and Long Island Brand Beverages LLC, a growth-oriented company focused on the ready-to-drink tea segment in the beverage industry, jointly announced yesterday that they have entered into a definitive agreement to merge their respective companies.
For marijuana lovers, following Medican Enterprises, Inc. (MDCN), 0.04, Up 0.02 (+109.52%) and Force Fuels, Inc. (FOFU), 0.0048, Up 0.0008 (+20.00%)soon to become Cafe Serendipity Inc., each had notable trading sessions on Monday. MDCN is hoping to break into the emerging medical and recreational marijuana sector after agreeing to acquire a 67,000 square foot facility in Phoenix, Arizona a month ago which the company hopes to be able to lease as a marijuana growing and warehouse facility to licensed growers. FOFU has been planning to change its name and ticker symbol for a while now which became public knowledge after yesterday’s PR.
On the flip side, Sunx Energy, Inc. (SNXG), 0.2603 Down 3.7397 (-93.49%), set a new 52 week low on volume of just 10,000 shares – an inviting move – less than one month after the solar systems and unique portable solar powered generators provider announced it re-launched its business offerings under the leadership of President, David Forster, along with a new corporate website and line of solar energy systems. Seeing as how yesterday was the first time SNXG stock traded, watching this one heat up will be an exercise that could be worth sweating out.
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About VUZI Stock
Vuzix Corporation is engaged in the design, manufacture, marketing and sale of wearable eyewear products for use as an alternative private display solution in markets where portability and high resolution are key. The Company’s products, known commercially as Video Eyewear, aka head mounted displays, wearable displays, video glasses, personal viewers, and near-eye displays, are worn like eyeglasses and contain micro video displays that offer users a portable high-quality viewing experience.
Click here to view the SEC filings for VUZI.
Click here to view the website for Vuzix.
Issued and Outstanding: 11,284,568
Last 5 Trading Sessions:
VUZI should stay hot today, while penny stocks like AVLS, CAGZ, SNXG, FOFU and MDCN will be more for the flippers on adderall. With banner adds now flying high on iHub for MV Portfolios Inc. (MVLI), thanks to Future Money Trends, it too deserves to be monitored IF you buy into the old fable that following what Dr. Philip Frost does will make you rich. Regardless of which one you pick, “If you’re looking to invest in a great speculative investment, then you should immediately turn off your cell phone, stop reading your emails and focus 100% of your attention on…”
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