|Bid||0.4068 x 2200|
|Ask||0.4071 x 2900|
|Day's Range||0.3920 - 0.4581|
|52 Week Range||0.1300 - 13.6000|
|Beta (3Y Monthly)||-2.21|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The company was notified in May that it was facing delisting after its bid price dropped below $1 for $30 consecutive days.
The Clearwater company said the acquisition is intended to significantly impact its overall water technology portfolio.
A Clearwater clean technology company that's facing delisting from the Nasdaq intends to acquire a $1.28 million controlling interest in an Aventura water technology company. Taronis Technologies Inc. (NASDAQ: TRNX), formerly MagneGas, has signed a non-binding letter of intent to acquire a controlling interest in Water Pilot LLC, a company that engineers technology water flow systems to improve the accuracy of meters and limit consumption. The investment will be payable in Taronis’ common stock and include conditional earn-out payouts if certain revenue and cash flow metrics aren’t achieved over the first two years of operations post-closing, which is expected on or before May 31.
The company wants to increase national recognition throughout its 21 retail locations and 10 separate legacy brands.
After a year of change and numerous purchases of fuel market companies, Taronis Technologies may finally be ready to reduce its acquisition rate. The latest for the Clearwater company in a year of change — it rebranded from MagneGas to Taronis in February — is the purchase completion of one of the largest independently owned industrial gas distributors in Los Angeles for $2.5 million in cash. The company generates about $4.5 million in annual sales and has five retail locations across the Los Angeles market, according to a statement from Taronis.