EWaste Sys. Inc. (EWSI) our New Technical Report did not disappoint this morning as shares surged as high as $.047 or up to 96% from yesterday and a possible 57% from the open on record volume.
We stated that, "There's a ton of room for it to move up" EWSI "was" down a whopping -98% from its 52-week high of $1.95 and with EWSI currently at around $.03... has a perfect bottom chart set up for this type of rebound! - Make sure you use Level II
Our analysis is once again right on point and this also might just be the beginning to a much bigger rally in the future for EWSI, so make sure you continue to follow the technical and corporate developments!
EWSI breaking news out this morning that, "it has signed a non-binding letter of intent ("LOI") to acquire a multi-vendor reverse logistics solutions company headquartered in the Southwestern US. This LOI represents the fourth targeted acquisition by E-Waste Systems as part of its strategy to become a leading provider of e-waste services internationally. The target's scope of work includes asset management, professional services and technical solutions including reverse logistics resolution, development and implementation of software and operational processes, inventory control, commodity audit programs, and process integration, as well as engineering expertise, refurbishment and remanufacturing capabiities.
"This particular opportunity is an excellent complement to the planned build-out of our e-waste recycling infrastructure initiatives. Our focus is on building a growing and profitable company with the objective of becoming a significant international player in the electronic waste recycling and end-of-life management industry. This acquisition could become an excellent component in the implementation of our strategy," stated Martin Nielson, CEO of E-Waste Systems. This LOI requires that the names of the company and the specific terms of the transaction be kept confidential to protect customers, suppliers, and employees, but details will be announced as soon as the definitive agreement has been executed. Closing is contingent upon, among other things, due diligence and definitive agreements and completion of two years of PCAOB qualified audits, all of which are expected to be commissioned soon. "
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WIth that being said, keep an eye on EWSI for continued movement and volatility patterns!
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