
Such incredible NXPN stock rush has not been seen since the end of last summer. At that time, the shares were promoted, which event was accompanied by an announced Farm-in Agreement.
Presently, there is no information about an ongoing NXPN stock promotion. This time the magic powers causing the rush were some speculative trades and a promising SEC filing.
This Tuesday, NXPN prepared itself to submit to the SEC its Reorganization Agreement with High Plains Gas, LLC (HPG). According to that agreement, the members of HPG will acquire an 80% controlling interest in the securities of NXPN, and NXPN will acquire a 100% controlling interest in the securities of HPG.
It is planned that HPG becomes a wholly owned subsidiary of NXPN. As the company stated, if the agreement is not completed by the end of the year, it should be terminated. On the same day NXPN was worth $0.0023 per share, but the stock was not traded.
Yesterday, NXPN stock closed the market 317% higher than on Tuesday and had a volume of 2.5 million shares traded. This was eleven times the average volume for NXPN.[BANNER]
It is a matter of time to follow how the story continues. The hit for NXPN investors was last summer the Farm-in Agreement with the Switzerland corporation Dominus Energy, AG.
The company was obligated to pay Dominus the amount of $475,000 through a promissory note, payable on July 13, 2011. The Note was never executed and the obligation does not exist any longer.
Yesterday, the usual stock alerts were missing. Nevertheless, shorters managed to make NXPN shares a hit again. 62.71% from the total volume traded comprised of short sales.