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RUMOR: CSAX completing financials and finishing 420 merger
CSA Holdings, Inc. (OTC: CSAX)
New Source (Yahoo.com)
On April 19, 2016, CSA Holdings, Inc., (OTC: CSAX), through its wholly owned subsidiary Canna Security America, issued a press release (Click: OTC Markets) announcing a joint venture with Compliance Banking Solution (CFN) to provide cash transport in five legalized states. The release states "Utilizing CSA's armored transport division: The Cloverton Group. CSA will be providing cash pickup, transport and verification to CFN clients in five states including Colorado, California, Washington, Nevada, and Arizona to start."
With such positive news, it is surprising to see the stock trading near its 52 week low of .10 but we assume its directly related to the late filing of their annual report. In speaking to people with knowledge about this situation, the company's auditor are in the process of completed the financials and is awaiting the company to supply them the ancillary items required to complete the December 31, 2015 annual report. The company plans on supplying the remaining required items to the auditor this week so the 10-K can be filed within the next two weeks. It is rumored that the company is also in discussion with a successful complimentary 420 merger candidate that could more than double the existing 2015 gross revenue numbers of $789,159.34. In reviewing the financials, the company has no convertible debt and it appears that they have not financed their growth through toxic debt.
With the current share structure, we find strong support at the 52 week low as a positive indicator to bounce from .10 to .22 in the short term. It appears there will be resistance in the .22 - .25 price range based on previous trading in these ranges. We see this as a strong buy opportunity given these indicators.
Viridian Capital Advisors, LLC prepared a 2015 -2016 report on the company which details the industry, the company, its business strategy, management, competition and growth. CLICK HERE to download and read this report from DropBox.
Good Luck Everyone,
SimplyOTC
NOTES: This is an estimate only and has been calculated by tracking the trading activity of CSAX each time a news announcement has occurred. Past performance is not always a way to track future potential. In NO way do we represent that this is guaranteed.
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