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CORAL GABLES, FL / ACCESSWIRE / February 28, 2019 / The tech stock market has been a hotbed of excitement as a result of companies in the tech industry working to develop innovative new products to revamp the quality of life enjoyed by consumers. is fueled by one of the most interesting emerging industries in the world. Consumers may not be aware of the fiscal happenings of companies working in tech, but they are likely more familiar with the products and services being released to the public. So long as companies immersed in the tech sector recognize their responsibility to consumers, it could catalyze potential investor opportunities in the near future. ParcelPal Technology Inc (PTNYF) (PKG), DPW Holdings Inc (NYSE American: DPW),BioPharmx Corporation (NYSE American: BPMX), and DropCar Inc (NASDAQ:DCAR) represent 4 tech stocks on the rise on Thursday.
ParcelPal Technology Inc (PTNYF) (PKG) is a technology-driven logistics company purposed with connecting consumers to the goods they love. Whereas other companies are focused on cutting costs to increase profit, ParcelPal is focused on improving the lives of their customers through an on-demand marketplace where customers can purchase what they need and have their goods delivered within an hour. As a result of the Company's efforts to maintain its accessible marketplace, consumers have expressed their satisfaction with the platform's usability.
ParcelPal Technology Inc (PTNYF) (PKG) announced towards the end of last month that the Company had formed a partnership with MADD Canada to aid in the continuous fight to prevent impaired driving. According to the announcement, MADD Canada has endorsed ParcelPal as its official delivery service in Canada. As part of the ParcelPal's national rollout campaign, advertising for ParcelPal's service will be seen across the country in various educational forms. Together, MADD Canada and ParcelPal will launch a national awareness campaign focused on educating Canadians on the dangers of impaired driving and the options they have for getting items they want or need without leaving the party.
In a press release regarding the announcement, Kelly Abbott, President, and CEO of ParcelPal Technology Inc (PTNYF) (PKG), explained that "as ParcelPal dives deeper into cannabis and alcohol delivery, we are very aware of the inherent risks associated with consumption. We take every precaution to ensure the product is not only delivered safely but will be consumed responsibly as well. Our driver training programs and our technology are designed to ensure they do not deliver to a highly intoxicated or underage person."
DPW Holdings Inc (DPW), a diversified holding company, today announced that it has signed a stock purchase agreement with Ault & Company, Inc., a Delaware corporation. The closing of the proposed $2,500,000 transaction with Ault & Company is subject to approval by the NYSE American.
Per the terms of the agreement, Ault & Company will invest up to $2,500,000 in the Company through the purchase of the Company's Series C Convertible Redeemable Preferred Stock, during the period ending on December 31, 2019. Each share of Preferred Stock par value $0.001, shall be purchased at $1,000 for up to a maximum issuance of 2,500 shares of Preferred Stock. Each share of Preferred Stock shall become convertible after eighteen (18) months from the date of issuance into such number of shares of the Company's common stock for $0.12 per share.
BioPharmx Corporation (BPMX), a specialty pharmaceutical company focused on developing innovative medical dermatology products, announced earlier this week that the Company had received a notice on February 25, 2019 from the NYSE American LLC that granted the Company an extension from February 27, 2019 to April 30, 2019 to regain compliance with certain NYSE American continued listing standards related to the low price per share of the Company's common stock.
According to the details of the announcement, the Company's common stock will continue to be listed and traded on NYSE American during the extended cure period, subject to the Company's compliance with NYSE American's other applicable continued listing standards.
DropCar Inc (DCAR), a leading provider of last-mile logistics technology, mobility services and cloud-based software for both the automotive industry and consumers, saw its shares enjoy a 12.00% boost in early afternoon trading on Thursday, with shares trading at $0.56 per share. The Company announced in late January that it would launch a non-deal roadshow in the United States in cities including New York, San Francisco, Los Angeles, Philadelphia, Miami, and Palm Beach from January 28, 2019, to February 8, 2019.
Spencer Richardson, CEO of DropCar, said, "with the Mobility-as-a-Service space gearing up for some major IPOs this year, including Uber and Lyft, as well as expanding into new verticals such as large and small retailers looking to stay competitive with Amazon, we believe the time is right to aggressively share our mobility logistics platform with investors. The NDR is just one of several initiatives we're rolling out here in Q1 to ramp up our non-deal investor outreach this year."
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An Affiliate of JSG Communications, MIDAM VENTURES LLC has been compensated $75,000 per month for 3 months by ParcelPal Technology, Inc. for a period beginning September 1, 2018, and ending February 1, 2019, to publicly disseminate information about (PTNYF/PKG). We may buy or sell additional shares of (PTNYF/PKG) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information. We own zero shares.
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