GGII a stock I wrote about this weekend on my blog has failed to disappoint my subscribers, readers, and free subscribers. The stock closed today at session highs, fueled by the acquisition press release that was hinted at in last weeks news. The stock was resilient all day and seemed destined to see that $.0005 figure at the close.
Tomorrow should be another interesting day and the chart shows very little resisitance to the upside. I think the $.0006 figure I pointed out on Friday remains an important price point though, and a break of that would really bolster bullish sentiment. Most of today's action took place at the $.0004 price point, which makes that a solid support figure going forward.
Some tremendous accumulation going on right now for GGII, also look at the steady buying volume:
Paid subscribers of mine were given GGII at no bid and 4 market makers offering $.0001 in the middle of last week. My free subscribers also had a shot at getting in at $.0001 last week. To put that in perspective a $500 buy on my alert last week could have been sold for $2,000-$2,500 today.
While nothing is ever guaranteed in this market, I had a good feeling about this stock and still do. As long as the sellers that brought this stock down to triple zero's remain on the sidelines, this stock could continue to move higher and keep the naysayers looking foolish.
Today's press release was exactly what GGII investors were looking for:
LOS ANGELES, Apr 13, 2011 (BUSINESS WIRE) -- Green Globe International, Inc. (OTC: GGII) today announced a Letter of Intent with Planet Positive International, LLC, the owner of the Planet Positive environmental accreditation program. The Letter of Intent provides for a period of due diligence, which if successful, will lead to an agreement later this year whereby Green Globe International will acquire 100% of the issued and outstanding capital of Planet Positive International in a share exchange transaction that will result in Planet Positive International becoming the surviving entity. Green Globe International will issue shares of preferred stock in exchange for the shares of Planet Positive International.
Under the contemplated agreement, once the transaction is completed, Planet Positive International will have the right to select a new slate of officers for the company and its subsidiaries. The public company's name will also be changed to reflect its business strategy going forward.
Planet Positive is an international environmental certification for businesses, products, buildings, events and people. Certification includes a carbon footprint report, an action plan including employee engagement materials to help make reductions in energy, carbon and costs, marketing materials for the client to communicate their success and a community investment element through the not-for-profit Planet Positive Foundation. Planet Positive's online certification is also ideal for large organizations looking to measure carbon in their supply chain, thus enabling them to apply a level of environmental assurance of their suppliers. It goes beyond compliance by delivering energy efficiency advice and behavior change materials to reduce carbon and environmental impacts. More information on Planet Positive International, its management team and current clients can be found at http://www.beplanetpositive.com/.
Planet Positive International licenses its intellectual property to wholly owned subsidiaries operating in the United Kingdom and the United States.
"Planet Positive International has existing recurring revenues; a management team with significant successful business experiences, including in the environmental certification industry; and high profile partners and clients," said Green Globe International Managing Director and CEO Steven R. Peacock. "We could not have hoped for a better opportunity than our contemplated relationship to move the public company beyond its current focus and to fulfill its pursuit of additional revenue generating operations in the U.S. and internationally. Jon Gaster, Group Chairman of Planet Positive International, LLC, and his team are uniquely qualified to lead the company after the acquisition transaction is completed."
Mr. Peacock added, "It is clear that each company's respective product sets will mesh nicely and will provide the public company with an expanded offering to address the growing global environmental certification market."
Mr. Gaster stated, "Planet Positive looks forward to completing the due diligence period and subsequently taking advantage of the many opportunities that will exist as a combined entity with an experienced management team and a strong line of products and services that can meet any company's needs."
To receive email alerts from the company, please visit http://www.greenglobeint.com/stayconnected/email/.
About Green Globe International, Inc.
Green Globe International, Inc., through its 88% majority ownership in Green Globe, Ltd., a UK corporation, is the owner of the Green Globe brand, the recognized leader of sustainability certification and benchmarking programs. The company is structured as a holding company and expects to continue to acquire environmentally oriented companies that add value to the public company and its shareholders. For more information please visit www.greenglobeint.com.
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