It was a good day in the markets for investors in Starfleet Innotech Inc (OTCMKTS:SFIO) on Monday as the company’s stock came into sharp focus among investors and ended up with gains of as much as 19%. The United States based global investment holding company announced yesterday that it had signed a Memorandum of Understanding with PPM Toys to acquire a majority stake in the latter.
Trading Data
On Monday, SFIO stock jumped 19.05% to $0.0100 with more than 1.75 million shares traded, compared to volume of 1.47 million shares. The stock moved within a range of $0.0078 – 0.0100 after opening trading at $0.0090.
Starfleet Innotech and PPM Toys Execute an MOU Agreement for Starfleet to Acquire a Majority Ownership Interest in PPM Toys
PPM Toys is a toy manufacturing and licensing company that had been founded by Mexicans and currently has offices in the United States and Hong Kong. It was a significant new announcement from the company and more importantly, it appears that investors are excited about the whole thing as well.
The two companies had earlier signed a letter of intent initially but the signing of the Memorandum of Understanding is the conclusion to a period in which the companies had been involved in terms and conditions of the deal as well as due diligence. One of the major points of negotiation was the change of the location of the company’s headquarters in the United States. It had been decided upon since it would help in having better access to capital.
