Syncronys (OTC: SNTL) staged another rally in today’s over-the-counter market, ahead of its new acquisition of a North American company. Syncronys traded at a share price of $0.142 at one point in the afternoon, and eventually closed at $0.13 per share, or 4% higher than its previous close. Today’s trading session saw 226,228 shares exchange hands, which exceeds its daily average of 75,784.
Yesterday, August 7, 2012, Syncronys announced that it has signed a Letter of Intent to acquire Zillacomm and Zillacomm Canada. With expected annual revenues exceeding $15 million, Zillacomm is a North American Infrastructure EF&I provider in telecommunications and energy sectors. Specifically, Zillacomm offers commercial carrier wireless networks and energy utilization, renewable energy applications, and smart grid systems.
Aside from the positive news from the company, investors may be seeing upside potential of Syncronys since the stock still has a year-to-date loss of 76.4%. Syncronys has been rallying since June 29, 2012, when the stock posted an annual low of $0.28 per share. The stock was steadily declining until that point.
The high volume of the stock could also be attributed to the massive promotions for Syncronys today. Bullseye Stox, Actual Gains, and several others promoted Syncronys today, according to @pennystock24 on Twitter. There are 46 promotions found on stockpromoters.com for Syncronys, and five of the promotions were from today. Notably, Penny Whisperer and Penny Stock Rumors were compensated $10,000 each for promoting Syncronys today.
Syncronys has not issued many press releases recently. A few headlines for the company can be found earlier this year:
- May 10, 2012: Syncronys announced that Bishop Duane Swilley, Founder of A Place Called Hope, has chosen Syncronys Solar Energy Products for its ongoing outreach programs.
- May 3, 2012: Syncronys announced its new, advanced, large scale solar power generation products for use as emergency, commercial and back-up power sources.
- April 23, 2012: Syncronys announced that it had received an order valued at $4.5 million to install 400 solar-powered well pumps in Pakistan.
The primary goal of Syncronys International is, through its subsidiaries, building a solid distribution channel through which the current and future products can be sold to a variety of end users, distributors and developers. Syncronys also aims to partner with research institutions, helping them to commercialize intellectual properties and helping these ideas become real and viable solutions in the renewable energy market.