Newsletter
| Promoter: | Penny Stock Pick Alert | Paying Party: | StockMister |
| Stocks covered: | Compensation: | Avg $ Volume for Period: |
| FTEC | $25000 | 34259 |
| Max Profit: 10.53 % | Gain at close: -18.42 % | |
| *We think that this promoter is a part of a group of promoters. | ||
FTEC (For The Earth Corp.) gappped up about 25% and took off by moving up to 45% above yesterday's close.
So, within minutes, traders could have made solid double digit gains before the pullback.
The volatility of the morning trading hours appears to have settled, so consider looking for profit opportunities by playing the channel.
As I write this, FTEC is trading at stronger support levels since the opening bell, so look for a potential retrace back to the upside. Since it's still early, shares could reach it's starting price of around 18 cents and potentially break that point.
This morning, FTEC announced an acquisition which I expect assisted the gap up and additional trading activity that attracted traders... and I suspect could be on traders radars throughout the day based upon the volume.
For The Earth Corporation Enters Into Agreement to Acquire Substantially All of the Assets of Kat Box King, Including Litter to Go
PHOENIX, AZ--(Marketwire - 06/07/11) - On May 10, 2011, For The Earth Corporation (OTCPK: FTEC - News) entered into an asset purchase agreement with Kat Box King, Inc. to purchase substantially all of the assets of Kat Box King relating to Kat Box King's business of developing, manufacturing and distributing cat care products for pet owners' convenience. Kat Box King's products include Litter to Go, a disposable cat litter box that contains ready to use cat litter.
"We believe that Kat Box King's established presence at mass retailers like Walmart, coupled with their patented litter box design, may enable us to develop new profit generating avenues for our company," stated Nelson Grist, President and CEO of For The Earth Corporation.
The purchase price for the assets is $500,000 in shares of For The Earth's common stock. The number of shares of common stock issuable at closing would equal the quotient obtained by dividing $500,000 by the per share Buyer Stock FMV. For purposes of the asset purchase agreement, the Buyer Stock FMV is defined as the average VWAP for each share of For The Earth's common stock for the 20 trading days immediately prior to the closing date.
The closing of the acquisition is subject to the fulfillment of certain closing conditions by the parties.
According to Pet Product News, retail sales for the pet industry totaled Fifty Four Billion in 2009 -- and sales continue to grow. This growth trend fits perfectly with For The Earth Corporation's vision and focus on producing products with a purpose. Litter to Go is packaged in a fully recyclable corrugated box and the cat litter is a natural mined product. With the box being disposable, For The Earth believes that an added benefit of this product is easier, healthier litter box maintenance. For The Earth believes that acquiring Kat Box King's assets would help it fill out an array of pet products that it believes are both environmentally friendly and useful.
The Company's biodegradable, non-toxic and green friendly products are designed to be safe around adults, children and pets...all of whom could be sensitive to toxins...can be purchased online at www.whatproducts.com with a 100% guarantee.
And with FTEC's products in commercialization phase, combined with what looks like light resistance for a penny play, shares could take off.
To view the news in full, please visit:
http://finance.yahoo.com/news/For-The-Earth-Corporation-iw-2345963993.html?x=0&.v=1
Keep watching FTEC trade since it could make another break upwards after settling into a groove following the morning shuffle.
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