Santo Mining Corp (OTCMKTS:SANP) has been a very hot stock on the OTC. On some days more than one billion shares changed hands, which is an astonishing amount and shows that the market is showing interest in the stock. The fervor over SANP is built around the business head: PODWERKS.
SANP, also called PODWERKS, runs a co-working space for cannabis entrepreneurs in the US. What really fully lit the flame here was a deal to merge with Canoe Pool seeing the two companies join forces to expand Canoe Pool’s bitcoin mining operation. Canoe Pool is actually called Chongqing Yuhuan Technology Co., Ltd., and the company is basically readying itself for ICO offerings to commence in full-scale across the United States.
Santo Mining Corp (OTCMKTS:SANP) is a stock that we recently noted as “now doing business as PODWERKS, which is a co-working space for cannabis entrepreneurs in the United States, providing the necessary framework to grow, market, and sell all cannabis-related products.”
According to company materials, “Santo Mining Corp, a publicly traded company in the Over-the-Counter (OTC) market. It currently trades under the ticker symbol SANP. From 2012 to 2015 SANP was an analog mining company in Latin America focusing on gold mining. In April of 2015, it merged with Cathay Cigars of Asia an online bespoke cigar company focusing in the China cigar market, in February of 2017 the company started developing grow pod using remanufacture shipping containers. The company presently is focusing exclusively in Digital mining of cryptocurrencies.”
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Mr. Frank Yglesias CEO of Santo Mining stated; “we will be building a new company focused on cryptocurrency mining and cryptocurrency transactions. This is just the tip of the iceberg, and during the weeks and months to come there will be many new changes and developments for Santo Mining.”
In other news, On October 16, 2017, SANP noted that Mr. Rolf Bansbach had been appointed Chief Technology Officer. We appreciate his profile. He has worked for big IT organizations, such as Hewlett Packard, Sykes Americas, and several IT data centers located in Latin America. Furthermore, the new profile will help in the cryptocurrency venture. This is what Mr. Yglesias, CEO of Santo Mining, explained:“Mr. Bansbach takes on this new role in the company at a critical time for Santo Mining. As we prepare for the future, key acquisitions like Rolf are needed to take our company in a new direction. Young, talented blood is the future of the cryptocurrency. Rolf will see well beyond the curve and his vision will help navigate SANP into the future.”
Sporting a market cap of $1.24M, SANP has virtually no cash on the books, which must be weighed relative to virtually no total current liabilities. However, the company is seeing recent declines in the top-line on a sequential quarterly basis. SANP is entering a hot market and already have legitimate business with Podwerks, so we should see some market cap expansion soon. Sign-up for continuing coverage on shares of $SANP stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $SANP, either long or short, and we have not been compensated for this article.