Let me start with the bad news first. Those of you who have been buying up SSWC for under $.001 a share will no longer be able to do so. At some point this week you might not be able to get SSWC for under $.002. The good news is this stock is really starting to come together and looks ready to make a sizable run going forward.
For long-time readers you know my target on SSWC was for a 1,000%+ gain. In my first SSWC post I noted that this stock could see $.005 with impressive merger news. I think we saw that news today, this is the confirmation we've been waiting for, and it should be the impetus for a sustained run. The press release was very impressive from my seat and utilizing restricted stock to reduce debt is always a good thing for shareholders.
Just based on a technical perspective SSWC is on the cusp of a breakout. The stock breached its 52 week high of $.001 and was able to close a notch above that at $.0011 today. This bodes well for tomorrow and beyond. Factor in today's press release and you have the ingredients for an explosive move by SSWC.
I don't want to get too excited about SSWC, but it is tough to temper my enthusiasm for this stock. It has a lot going for it, and I think investors will validate my opinion by buying shares of this stock. I could see $.0015-.002 for SSWC on Tuesday if the buying continues, which I think it will.
This market is all about supply and demand. With the supply for SSWC dwindling the past few weeks and days, and the demand at all-time highs, this stock has no where to go but up. The only question is how high. If you look at my previous SSWC posts, I've covered the potential, and its much higher than we are right now.
I will have more on SSWC as the week progresses.
Today's press release:
FLEMINGTON, NJ, Jun 07, 2010 (MARKETWIRE via COMTEX) -- Ken Glynn, President of SpeechSwitch, Inc. (PINKSHEETS: SSWC), announced today that he has reduced the company's debt by more than $450,000.00 by conversion of debt to restricted Class A and Class B stock. He also announced the expansion of the Kenergy Scientific Group within the company. The Kenergy Scientific Group will select novel and creative products for sale by SpeechSwitch under the Kenergy Scientific brand. Current plans are to launch a series of products beginning in early July 2010.
SpeechSwitch, Inc. is an independent publicly traded company no longer affiliated with iVoice, Inc. It has not been in the speech recognition systems business for more than a year and is now devoted to the development and sale of products in four SSWC categories: Solar power systems; Solar products; Wind turbine systems and other Creative products -- SSWC, that's our symbol!
Information set forth in this press release contains various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Private Securities Litigation reform Act of 1995 (the "Act") provides certain "safe harbor" provisions for forward-looking statements. The reader is cautioned that such forward-looking statements are based on information available at the time and/or management's good faith belief with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed statements. Forward-looking statements speak only as of the date the statement was made. We assume no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," 'should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
CONTACT:
Ken Glynn
908 788 0077
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