$EFFI Heads Higher on Acquisition of Mobile Developer YamYam
Last Updated: Oct. 16, 2013 - 12:00pm EST
(NEW YORK)--EffTec International, Inc. (OTC:EFFI), a diversified holding company, heads higher on news of their acquisition of mobile development company YamYam, LLC.
EFFI Highlights
- New Acquisition Generating Revenues, Profitable
- Chart Showing Very Bullish Trend
- Mobile Gaming in Strong Demand
- 23 Million Shares Outstanding
- Market Cap only $550,000
YamYam Acquisition
On Oct. 14, 2013, the Company announced the acquisition of mobile developer YamYam, LLC based out of Reno, Nevada. This closed acquisition now brings EFFI revenue generation, and from initial indication possible profitability from this new subsidiary.
As of Oct. 16, 2013, the Company had around just 23 million shares issue and outstanding, thus giving the stock a market cap of only around $550,000, which is very low when compared to others within the sector. Although not fully reporting under the Securities Exchange Act of 1934, the company has now just complied and was upgraded to "current" status tier on OTC Markets.
Based on their execution of new acquisition, and very bullish chart indicators, EFFI looks primed to continue its climb as volume has remained strong even through a liquidity drought over the current government shutdown. A run to $0.10+ on this stock looks to be very possible with a float of only 8 million, with a large portion of that held in friendly hands.
EFFI was last traded at around $0.025 per share in midday trading.
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