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Friday, June 01, 2012 1:53:17 PM
The ten-bagger had price spikes of similar extent in the past as well, but those events were not tradable as the price went up and down with huge volatility and barely any volume. On Thursday, more than 171 million shares changed hands, providing solid market depth and plenty of opportunities to enter into the rally.
The agreement to reverse merge with Advance Gold should be finalized by January 15, 2011. The current form of it, a letter of intent, doesn't look trustworthy, even if the letter was declared irrevocable.
Advance Gold is presented as a mining company with $35 million in revenues calculated for 2010. However, there is no more information about it outside the Triton Distribution's PR. Advance Gold cannot be found on the Delaware secretary of state corporations list, nor do they have any website to refer to. The news release lacks essential information about Advance, like a phone number or address.It is very likely that the price rally falls apart really quickly if no additional PRs come out. Even if this is a real deal, the time frame until acquisition is complete is over a month and Triton Distribution share price has already gone up enough to stick a $2 million market cap to the business that runs on a leveraged balance sheet and no revenues whatsoever. Currently looking as an attractive day trade opportunity, the stock possesses significant risk as a long term play.
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