PTS, Inc. (PINK:PTSH) terminated its reporting registration with the SEC in late March. Since then it revealed different merger candidates. It appears they have settled on one. The company introduced it in a PR yesterday, shortly before the markets closed.
Strangely enough, all the trading action occurred before that, and was pretty much done by noon. Approximately 458 thousand shares changed hands and drove the price up 12.50% to a close at $0.045. The trading volume was significant the day before too – about 420 thousand shares with a 48.15% gain.
The trading before the announcement looks even more suspicious after PTSH appeared in a number of paid promotional newsletters. The disclosed compensation of $55 thousand could attract some attention.[BANNER]
The merger candidate is a UK-based logistics freight forwarding company – Navistar Logistics. Mr. Sasa Vasiljevic, Interim Secretary of PTSH, said among other things: “At this point we have a binding agreement… We expect to have this completed shortly before the end of August.” Additionally, Mr. Vasiljevic stated that Navistar intends to return to the status of a reporting issuer and to get quoted on the OTCBB.
With the paid promotion kicking in today, and the excitement merger announcements usually bring, it is possible that PTSH sees some action today. However, it is not certain which way the price will go, especially considering the previous two sessions with high volume for no apparent reason.
