A press release (pasted below the chart) came out early in the session and the shares rallied 2,100% in the span of a few hours. The stock ended the day only 1,300% higher on over $1 million in trading volume.
This news hit the wires back in early December, but fell on deaf ears. Today investors were willing to buy on the news and made this the biggest gainer in the market today.
LONDON, Jan 12, 2011 (MARKETWIRE via COMTEX) -- Global Technologies, Ltd. (PINKSHEETS: GTLL) has completed a Merger and Acquisition agreement with VX Partners. This agreement calls for all current management of the Company to be immediately replaced by VX Partners' executive team, all current technology assets to be sold as soon as practicable, and all financial filings be brought current. The terms of the agreement call for a simple 'stock swap' transaction among the control parties. No common stock will be issued as part of the transaction and no reverse split will occur. The company will retain its current name and trading symbol and will create brand equity for its individual holdings as part of its marketing programs.
VX Partners has 2010 year-end combined current revenues of approximately $6 million and has technology and related assets valued privately by the company at over $15 million. VX Partners believes the market valuation of its assets will achieve far greater levels and has placed its current estimate of asset valuation purposely low.
VX Partners will make rapid disclosure of both technology and financial related aspects of its operations.
Investors can expect an official release of the company's web sites and marketing information as well as business-related announcements of its technology partnerships and distribution agreements.
About VX Partners
VX Partners is a special purpose private technology holding partnership which owns several social media and related technolgies for the rapid creation, deployment, and dsitribution of social networking for both personal and business related applications. VX Partners' technologies include: GPS auto-checkin locator services for personal and commercial relevance networking, rapid-build social site construction tools for vertical and custom branded market applications for both customer and employee loyalty and incentive programs, personal and enterprise application tool builder for individualized applications for social media interactions and sharing. VX Partners' technology and applications are designed to create new stand-alone social media sites as well as integrate into or tie-together existing popular sites such as Facebook, eBay, Twitter, Amazon.Com, among others. VX Partners has branded its technology and solutions for as the "Social Cloud Space" enabled by the integration, communication, and seamless access by and among multiple social platforms.
ABOUT THE COMPANY
Global Technologies, Ltd. (GTL) is a technology portfolio company that acquires technology assets to enhance their growth and development. The company builds revenues and asset value through a model of developmental and acquisition growth. The company receives income from, or sale of, its portfolio holdings or technology licensing agreements.
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Hi, Thanks for all the information. I will come back more often now. On a side note, how do you deal with all the spam you get on your weblog? My new Blogg is getting destroyed by random spammers and I have been spending a lot of time and energy deleting comments its simply not funny. . I get so drained fighting spam that I feed I ought to stop running a blog entirely
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