Shares of Penny Stock US Wireless Online (OTCMKTS: UWRL) Are Now In Play With BUBBLR News – Mike Swanson (01/23/2020)

Today shares of US Wireless Online (OTCMKTS: UWRL) are rising over 25% so far this morning on a trading volume surge above its average daily trading volume. The stock only has a market cap of around $2.5 million so is considered to be a micro-cap stock. The stock doubled at the start of the year and went sideways around 2 1/2 cents until today’s breakout action as you can see from this chart.

This type of trading action gets the attention of people like me who monitor the markets. What is happening? A filing with the securities and exchange commission this morning probably explains the action. According to this 8-k filing:

On October 21, 2019, US Wireless Online, Inc., a Wyoming corporation (the “Company”) entered into a non-binding Letter of Intent with AKBB Holdings, LLC, a Nevada corporation. On November 25, 2019, the Registrant and AKBB Holdings, LLC mutually agreed to cancel/rescind the Conditional Binding Letter of Intent (“LOI”) between them dated October 21, 2019. The parties agreed that the mutual cancellation/rescission is based on the inability of the parties to complete the terms of the agreement in the agreed upon time.

On November 26, 2019 US Wireless Online, Inc., a Wyoming corporation (the “Company”) entered into a Securities Purchase Agreement with BUBBLR LTD, an entity organized under the laws of England and Wales.

On December 12, 2019 US Wireless Online, Inc. (UWRL), a Wyoming corporation executed an Agreement and Plan of Merger with BUBBLR Holdings Limited and UWRL Acquisition Inc, a wholly owned subsidiary or UWRL.

SEC Filing: https://sec.report/Document/0001640334-20-000140/

This news is essentially the announcement of a reverse merger. This happens when a company merges with a shell company as a way to go public and trade on the markets. It is creating excitement on twitter as these tweets show:

I personally do not have enough information on the company it is merging with to have an opinion on where the stock will ultimately go to by the end of the year. Right now I am watching the action in several cannabis stocks and a huge play in a silver mining stock as I believe the current dip in gold and silver since New Years has brought an entry point for it. Even though the metals have dipped gold prices have now stabilized.

-Mike



Share This Post