Shares in ProText Mobility Inc (OTCMKTS:TXTM) have made an astonishing 5500% spike in the past two months. Just in December, shares of TXTM stock were at the lowest denomination a stock can possibly trade; .0001 without a bid. In the last week of January, shares of TXTM stock reached an annual high of .0056.
Volume for TXTM has been off the charts with the 30-day average daily volume of over 150 million shares. So far today the stock has traded over 130 million shares last at .0025 up 8.7% from the prior day. After reaching 52-week highs of .0056 TXTM has underwent a consolidation finding support off of .002. It will be interesting to see how the stock reacts as updates become public on the recent acquisition of Plandaí Biotechnology South Africa (Pty) Ltd. (Plandaí).
ProText Mobility Inc (OTCMKTS:TXTM) was incorporated in the State of Delaware on September 5, 2001 under the name SearchHelp, Inc. and completed its initial public offering on July 23, 2003. During the fiscal year ended December 31, 2008, the Company acquired 100% of the stock of EchoMetrix, Inc, which then became a wholly owned subsidiary, and in May of 2009 the Company filed a Certificate of Ownership and Merger with the State of Delaware pursuant to which EchoMetrix was merged with and into the Company, and the Company’s corporate name was changed to EchoMetrix, Inc. In December 2010, filed a Certificate of Ownership and Merger with the state of Delaware pursuant to which the Company’s then wholly owned subsidiary, Protext Mobility, Inc., was merged with and into the Company, and the Company’s corporate name was changed to Protext Mobility, Inc.
On December 31, 2016, the Company acquired Plandaí Biotechnology South Africa (Pty) Ltd. (Plandaí), a South African company headquartered in the Mpumalanga province of South Africa through a share exchange agreement. Under the terms of acquisition, the Company issued 100,000 shares of Series D Preferred Stock in exchange for all of the issued and outstanding shares of Plandaí. The Series D Preferred have the right to convert into 75% of the post conversion issued and outstanding common stock of the Company. The Series D Preferred have voting rights equal to the number of shares issuable on conversion on all shareholder matters.
As a result of the transaction with Plandaí, the shareholders of Plandaí became the control entity, having voting and conversion rights equal to 75%. While Plandaí is a legal subsidiary of the Company, Plandaí elected to become the successor issuer to the Company for accounting and reporting purposes.
The Company at no time in its history has been a shell. There Has never been a filing in bankruptcy, receivership The issuer is not now nor has it ever been a shell company. There is no pending or threatened legal action. There have not been any defaults on any notes, loans, leases or other obligations. The company’s stock has never been delisted by any securities exchange or by the OTC Bulletin Board. Since inception, there has been no forward splits of the company’s stock, stock dividend, recapitalization, reorganization, or spin off. On February 5th, 2014, the Company completed a 1 for 800 reverse stock split. The company has been in continuous operations since inception.
Currently trading under a $5 million dollar market cap, TXTM has our attention because of its reverse merger with PLPL that is still in the making. Street Register is going to want to keep an eye on TXTM and any developments from the recent acquisition of Plandaí Biotechnology South Africa (Pty) Ltd. (Plandaí) as material events become publicly available. Stay tuned to StreetRegister.com for more on the TXTM story as it unfolds. Sign up today by entering your primary email address below!