Dolat Ventures Inc (OTCMKTS:DOLV) is a micro cap that started moving on April 5th when a press release surfaced that the company was acquired by a Chinese businessman DeQuen Wang. At that time, shares were trading at .0075 as an unknown sub penny stock. Flash forward just a few weeks to April 19th, and shares were trading .07 cents (this is no small rally) and when you look at the chart below you can see the price action and accumulation begin.
Now flash forward to early May where you see the effects of the short term holders flipping on the news – creating unwanted volatility.
The control of Dolat Ventures Inc (OTCMKTS:DOLV) was acquired by Mr. DeQun Wang on January 11, 2017 pursuant to an agreement that was entered into on December 2, 2016. On that date Mr. Wang acquired 300,000 shares of the Company’s Class C Preferred Stock which is convertible into 750,000,000 shares of the Company’s common stock and carries an equal number of votes.
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$DOLV 10-Day Chart Below:
Founded in March of 2015, DOLV focuses on the development of batteries for “New Energy Vehicles”. Dolat possesses a number of patents seeking to enhance and extend battery life while also reduce operating costs. The Company seeks to commercialize solutions to the problems faced by all vehicle battery manufactures, such as shortage of battery life, expensive materials, and charging station issues.
The Company also acquired all of the issued and outstanding shares of Ji Ming Yang Amperex Technology Limited (Ji Ming Yang), a Chinese corporation in exchange for one hundred thousand Class D Preferred Stock convertible into 100,000,000 shares of the Company’s common stock. With this move, subject to FINRA approval, the Company will reflect the new business combination by changing its name to JB&ZJMY Holding Company, Inc. and seeking a new symbol.
As part of the acquisition, the company will be offering to current and future employees based in the Peoples Republic of China, the opportunity to purchase new JB&ZJMY common stock units for $0.10 (Ten Cents USD) per share with one warrant attached exercisable for two years at $0.15 (Fifteen Cents USD) for a total of 10,000,000 (Ten Million) units pursuant to a Regulation S offering on a best efforts basis expiring on July 17th 2017.
The company intends to file consolidated financial statements reflecting the acquisition during the next two weeks. Dolat Ventures stated; “We thank our shareholders for their interest in the Company and patience while we bring our filings current”.
We like what we see so far in DOLAT VENTURES, INC. (OTCMKTS:DOLV) and the employee participation plan and the sector they are in, we need more news to support the theme for the company, and investors shy away from many Chinese manufacturers because they cannot get enough information. DOLV stock price needs to make new highs above the April resistance at .075 cents, and we would like to see news on the revenue plan and how much of the top line they will keep. More to come on this stock, and we apologize for so little news, please come back and learn more as we do following all the movers on the OTC and other exchanges that fit our universe. For continuing coverage on shares of $DOLV stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!