In the last several sessions, shares of Shaka Shoes, Inc. (PINK:SHKZ) traded in lower volume after it had some very active session near the end of 2011.
On Friday SHKZ closed flat at $0.0026 with 1.6 million shares changing hands during the session.
On Nov. 1, 2011 SHKZ issued a press release about the acquisition of Classic Conservatories and Solar, which was supposedly the first of three acquisitions to turn SHKZ into “an immediate leader in the solar and renewable energy industry.”[BANNER]
Two days later, SHKZ announced the second acquisition and the third is yet to come. Curiously enough, the “immediate leader” in-the-making terminated its registration with the SEC on Sept. 21, 2011.
Consequently, it may take some time for the reported $188 thousand in revenue for November to appear on actual documents rather than in a press release.
The company announced the official name change to RenuEn Corporation on Jan. 10, and stated it was in the process of notifying FINRA and the SEC. Where this goes, only time can tell.
