MJP International Ltd (OTCMKTS:MJPI) is a micro-cap name that has been a heart-stopping show of strength in its two months of trading on the OTC. In that time, the stock has risen over 2,850% — in eight weeks. The latest catalyst in this evolving juggernaut is the company’s announcement that, as part of its 2017 growth strategy, they will be moving into the distribution and sale of their own brand of solar power consumer devices.
According to the company’s latest release, MJPI reached an agreement with Shenzhen Hopepower Technology Co. Ltd., to manufacture “HEAL” solar power banks which the company will sell in the US. These portable solar devices can be used to charge electronic devices on the go, and will represent MJPI’s first foray into distribution and sale of its own consumer products.
MJP International Ltd (OTCMKTS:MJPI) promulgates itself as a development stage company that engages in the sale and distribution of LED lighting and technology solutions in North American market.
Its LED lighting products consist of LED Par series bulb, a replacement bulb for traditional Par 30/38 lamps; LED Down Light series, a lighting fixture with bulb and installation housing; and LED tube series products to replace fluorescent lamps and fit into existing light fixtures.
The company sells its products to end users, including municipalities, airports, railway lines, hospitals, post-secondary institutions, and large property owners; wholesalers; contractors; and retailers. MJP International Ltd. was founded in 2010 and is based in Calgary, Canada.
According to company materials, “MJP International is a company that specializes in green energy products and services, including rapidly advancing green technologies such as solar and wind installations. The company is built on the fundamental belief that Green technology is the way to a clean, profitable and energy-rich future. MJP International continually pushes the envelope to find ways for clients to use green technologies in a cost-efficient and user-friendly way, firmly believing that renewable and clean energy sources will continue to come to the forefront as viable and economical alternatives to fossil fuel.”
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“We are pleased to announce that MJPI will order the manufacturing and branding of its own range of exciting solar devices targeted at the burgeoning consumer retail market,” said Christopher Hudson, COO of MJPI. “MJPI firmly believes that in today’s digital age, convenient and affordable access to solar power for our daily electronic devices is a market there for the taking that promises tremendous growth.”
“We look forward to expanding our manufacturing arrangement with SHTECH to encompass more consumer-oriented products this year,” added Mr. Hudson.
The last major announcement out of the company came toward the end of last month, alerting investors to the company’s move to begin selling several new products to capture a larger market share of the retail sector for solar-powered devices, including 6 volt 1 watt solar panels, Solar-powered LED motion sensor lights, Solar-powered hand held torches, and Solar-powered led light bulbs for home or outdoor use. This is part of the company’s strategy to offer products that can be used in daily life and not just products to power one’s home.
Traders will note just under 520% during the past month in terms of shareholder gains in the name. This is emblematic of the stock. MJPI has evidenced sudden upward volatility on many prior occasions. Moreover, the listing has benefitted from a jump in recent trading volume to the tune of 0% above its longer-run average levels.
This should not be overlooked with a float in play that’s extremely small — of 8.5M shares. Traders should not overlook this combination, as a jump in average daily transaction volume in a stock with a restricted float can unleash fireworks as supply is squeezed. Since we last covered the name, the stock has moved 126.4%.
Now commanding a market cap of $94.2M, MJPI has virtually no cash on the books, which stands against virtually no total current liabilities. MJPI is pulling in nominal trailing 12-month revenues ($12K). In addition, the company is seeing recent top line growth, with sequential quarterly revenues growing at 103.6%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. For continuing coverage on shares of $MJPI stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!