Come Monday, it should be an interesting week for the penny stock of Yappn Corp. (OTC: YPPN) who, after the closing bell Friday, emailed their subscribers that their Yappn.com is almost ready for beta testing. Discovered while searching for another useless app to add to the smartphone which is willing to pay for things liked by its users, YPPN stock itself could actually become quite useful.
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YPPN Stock Quote
Market Cap: 65.00M
May 6: 0.65
Issued and Outstanding: 100,000,000
Intertainment Media: 70,000,000
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Under the watchful eye of its new CEO and President, Steven Wayne Parsons, Yappn is looking forward to attracting users to their multi-language message board/chat service. Purchased for 70 million shares of YPPN stock, the “lock up” period for those shares could end quite soon if the insiders continue to drive up the price of the shares.
According to the asset purchase agreement from March 28, 2013, the “lock up” period can end as soon as:
(i) 18 months have surpassed, or
(ii) the last day of a consecutive 20 trading day period that YPPN stock has:
(1) had a minimum closing price of $0.75 per share and
(2) had a minimum trading volume of at least 120,000 shares per day
Pretty sweet deal for David Lucatch and his Intertainment Media, Inc. who sold the “Yappn” assets to the former Plesk Corp. as well as signing a service agreement for their wholly owned subsidiary, Ortsbo, Inc., to utilize their multi-language, real time translation intellectual property. The 65.81% ownership of the current outstanding shares could make for a big pay out if YPPN stock was to run towards $1 and beyond.
Set to fully launch in Summer 2013 with Intertainment Media’s FanTalk technology, Yappn.com will be one to watch to see how successful the beta launch is. As for YPPN stock itself, its pretty clear that since the lock up period only permits for the sale of (a) 1/18 of the registered shares per month, with a maximum of 15% of that day’s total trading volume, $0.75 is the safety number to look for before you start Yappn about how much money you made on iHub.
About YPPN Stock
Yappn Corp. is a development stage company focused on a prospective social media platform and related group of assets recently purchased known as Yappn.
Click here to view the SEC filings for YPPN.
Click here to view the website for Yappn.
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Ever since TagLikeMe Corp. (TAGG), every time a social media company comes out after a stock dividend or forward stock split, its worth looking into deeper. YPPN fits the profile for a promoted penny stock and should be monitored. The likelihood of TBX coming out with YPPN as their pick due to the connection with David Lubin & Associates PLLC makes it a candidate, but not a strong one.
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