This is an exciting time for our Company and I am pleased to announce that Mobile Bidding Technologies (MBT) Board of Directors has approved SinglePoint's offer to acquire a minimum 20% stake in the Company with cash and stock. MBT's primary asset is the industry leading mobile bidding solution, Text2Bid, a profitable company that currently has a valuation of $1.6m and has doubled revenues year after year as of late. They continue to revolutionize the $18B auction industry.
As well, we have finalized terms for the acquisition of ownership in DraftFury, a profitable Daily Fantasy Sports enterprise with effective customer retention strategies and an experienced management team. This is an exciting industry and probably one of the most significant acquisitions in our history given the prospects in the DFS industry and overall valuation of DraftFury itself as an $8,000,000 company.
This is alongside our initiative to uplist to OTCQB. Last Friday (4/22), our CFO received the final draft of our Audit for review and stated that this is our final step before obtaining a legal opinion necessary to file the Form 10.
I thank shareholders for their patience as we segued into the Daily Fantasy Sports realm, while keeping true to our core business model in negotiating with Text2Bid toward greater opportunities in the payments realm.
We expect to close both transactions by end of Q2, if not well before. In the meantime, I'm in negotiations with several additional acquisition targets alongside an aggressive, goal-oriented strategy toward an impactful increase in shareholder value
Worldwide Diversified Holdings, Inc. announced today record results for the year ending December 31, 2015.
The company total assets increased to $34,216,544 for the period ending December 31, 2015 as compared to $34,027,853 for the same period ending December 31, 2014.
The company total revenues increased by 41% to $1,257,262 for the period ending December 31, 2015 from $886,928 in revenues for the same period ending December 31, 2014.
The company asset value was $0.01c per share for the period ending December 31, 2015.
The company also announced that it has extended the Dutch Tender Offer until June 30, 2016, to continue to buy back shares to increase shareholder value. The company has received, as of March 31, 2016, a total of 202,821,950 common shares at prices between $0.0001 and $0.01. It has also received a total redemption of 650,000,000 previously issued common shares, to reduce the amount of shares outstanding. The shares have not been adjusted to the outstanding and issued shares until the tender offer is completed. The company is implementing this strategy to reduce the amount of shares outstanding without having to do a reverse split of its stock.
If you mean Obama, it is working out great. My business is booming, my house value is up and the markets are great... Sure beats George W and his con job he did on the American people...
Here is why it is rockin...
Elite Pharmaceuticals, Inc.
Among other positive placements in the news yesterday was Elite Pharmaceuticals, Inc. (ELTP) who announced results for FY Q3 2016. Revenue rose to 2.2 million up 61% from the same period last year.
During the quarter, the company invested $3.2 million into the development of SeaquestOx (ELI-200). Elite is currently waiting confirmation from the FDA of acceptance for review of their SeaquestOx Submission.
ELTP traded up only 10 basis points on average volume. Elite's management will hold a conference call addressing the results of operations and to provide updates on recent developments today at 11:30 AM EST.