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Our New Pick Is…
Cleartronic, Inc. (symbol: CLRI)
Good Morning,
CLRI opened at 0.059 and has so far seen 87K shares changing hands. This is a mini-breakout of sorts considering that an average just over 24K shares are traded. What gives? Traders have taken a keen interest in the play ever since it released some stunning news last week. We believe this news is a major catalyst for CLRI in the near term.
Cleartronic, Inc. (CLRI) Signs Letter of Intent to Acquire iStream Network, Inc.
CLRI announced recently that has executed a Letter of Intent with iStream Network, Inc. on June 9, 2016 to acquire and "spin-off" iStream Network as its own separate trading entity by filing a Form 10 with the Securities and Exchange Commission. Should this spin-off occur, Cleartronic shareholders would retain a (12%) percent interest in the issued and outstanding stock of iStream. iStream would obtain its own CUSIP, be assigned its own trading symbol and be an independent company with a registered class of stock.
iStream Network operates a number of web streaming websites including: www.musicianstream.com www.churchstreamnetwork.com www.sportstreamnetwork.com.
iStream broadcasts and delivers content globally from a multitude of venues, as well as, through relationships with entertainment companies. Proselect.us, a content provider recently executed an exclusive delivery agreement with iStream network. Proselect works with some of the top artists in the world, and their events have been viewed by millions worldwide.
You should probably see the tremendous upside from this news development; acquisitions have such an impact on volatility and ultimately valuation that we expect that CLRI will see quite a bit of interest from investors over the near term.
Then of course is the fact that at current levels the play is still massively undervalued. This undervalued position might be the reason Barechart.com has CLRI listed at “Buy.”
Don’t take your eyes of CLRI just yet; there’s plenty left in the tank.
Able Trader
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