AISystems, Inc. (OTC:ASYI) had a monster of a session yesterday. The company’s previous business model failed miserably and it seems ASYI may be taking a new direction soon.
After a very active session ASYI closed up 300% at $0.0048 with a mind-boggling volume of almost 73 million shares.
The catalyst for the 300% surge seems to be an 8-K form filed last Friday after the close. According to the filing, the previous members of the Board of Directors resigned after the appointment of Jeff Robinson as Chairman.[BANNER]
Jeff Robinson currently serves as the Founder and Chairman of BirthdaySlam, Inc. and ASYI had previously entered into a letter of intent with Birthday Slam. Both companies were in negotiations for a share exchange agreement.
Friday’s 8-K also revealed that on March 13 the company divested from its subsidiary, Airline Intelligence Systems, Inc.
The information available would suggest the negotiations were successful, although there was no official statement confirming ASYI and Birthday Slam have or will merge.
The company hasn’t issued a press release, nor has it filed another 8-K to reveal further details about what is happening at the moment. Traders and potential investors should take into consideration that there isn’t much information about the financial situation of Birthday Slam.
