http://www.sk3groupinc.com/
http://www.healthcareoftoday.com/
Over the course of three months SKTO has undergone a steady grind down from well over $1 to $.08. Investors buying at the top have lost over 90% of their initial investment, but the trend down looks to be coming to an end.
The company issued a press release yesterday, after the close, and an 8-K this morning which should move the stock much higher than its $.08 close.
According to Pink Sheets SKTO has an attractive share structure (assuming this hasn't changed) and the current outstnading shares are right there with the authorized shares meaning further dilution/selling is unlikely.
Absent the recent merger news, this stock was overdue for a rally. Now factor in the news, and recent acquisitions and SKTO should be trading closer to $.20 short term, with a higher price depending on investor interest.
Keep SKTO on your watch list going forward.
MIAMI, FLORIDA, Jan 08, 2010 (MARKETWIRE via COMTEX) -- SK3 Group, Inc. (PINK SHEETS: SKTO) today announces that it has entered into a definitive Agreement and Plan of Merger with Healthcare of Today, Inc., completing the terms of the previously announced letter of intent. Closing of the merger is subject to the completion of audits of SK3 and Healthcare of Today, Inc., the effectiveness of an S-4 registration statement to be filed with the SEC, and acceptance of a listing application with NASDAQ for the common shares of the surviving entity in the merger. Under the terms of the merger, Healthcare of Today, Inc. and SK3 Group will both merge into a newly-formed Nevada corporation, Healthcare of Today, Inc., which has been formed for that purpose and which will be the surviving entity. In addition, SK3 Group previously announced that Healthcare of Today, Inc. has acquired MacuCLEAR, Inc., a pharmaceutical company focused on discovering and developing novel solutions for vascular disorders of the eye. That announcement was incorrect. Healthcare of Today has, in fact, entered into a letter of intent for such an acquisition, but has not yet completed a definitive acquisition agreement or closed on the acquisition.
Healthcare of Today (http://www.healthcareoftoday.com), based in Burbank, California, is a vertically-integrated healthcare holding company. Founded in 2008, it has since acquired a number of companies, many specializing in the senior care industry. Its subsidiaries are engaged in a wide range of businesses including: nurse staffing, residential care facilities for the elderly, home healthcare services, home healthcare equipment sales, healthcare information technology, medical equipment, healthcare consulting, insurance, data security, advanced human tissue engineering, and more.
About SK3 Group, Inc.
SK3 Group also markets preferred medical services through its facilitation partners to its PEO client base. Corporate information can be found at http://www.sk3groupinc.com.
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Contacts: SK3 Group, Inc. Peter Bell President (760) 268-9611 info@sk3groupinc.com www.sk3groupinc.com
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Over the course of three months SKTO has undergone a steady grind down from well over $1 to $.08. Investors buying at the top have lost over 90% of their initial investment, but the trend down looks to be coming to an end.
penny stock
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