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Thursday, October 22, 2020

Lot78 Inc (OTCMKTS:LOTE) Takes Flight in Recent Trade

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Lot78 Inc (OTCMKTS:LOTE) is a micro-cap stock that has grabbed hold of the attention of traders during the stock’s recent bounce. The proximal catalyst is the company’s announcement of its intention to target opportunities associated with the Province of Ontario’s announced $20MM of incentives to build electric vehicle charging stations.

According to the release, LOTE has signed an exclusivity agreement with sPARK (www.sparkev.ca) Electric Vehicle Charging to market, sell and install Lot 78, Inc.’s Juice Bar Electric Vehicle Charger (www.juicebarev.com) products in Canada. The stock is breaking out to new 9-month highs in a move that appears, at least in part, in response to the headline.

Lot78 Inc (OTCMKTS:LOTE) trumpets itself as a company that is a business development company based in Connecticut. The Company plans to invest and help grow companies it believes are either under-preforming or would be helped by the business experience of the Company.

The Company is immediately targeting a 20% holding in an electric vehicle charging station company, Juice Bar EV. This initial investment is expected to lead to negotiations to purchase the rest of Juice Bar EV. The Company will not restrict its investment opportunities to any specific market.

According to company materials, “The Company was incorporated in the State of Nevada on June 27, 2008. On March 14, 2011, the Company filed a Certificate of Amendment with the Secretary of State of Nevada changing the name of the Company to “Bold Energy, Inc.”   On November 12, 2012, the Company, then under the name Bold Energy, Inc., entered into a Share Exchange Agreement with Anio Limited a limited liability company established under the laws of the United Kingdom (“Anio Ltd.”), which conducts its primary line of business under the name Lot78, Inc., the shareholders of Anio Ltd., and the controlling stockholders of the Company. The company changed names to Lot78, Inc. on January 31, 2013.    On July 15, 2016, the Company entered into a Letter of Intent to merge with Compound Holdings, LLC, a Connecticut limited liability company. Subsequently, on July 18, 2016, the Company and Compound Holdings LLC entered into a definitive Agreement and Plan of Merger. Pursuant to the plan of merger, upon closing, the Company intends to change its name to Compound Holdings, Inc.”

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$LOTE 10-Day Chart Below:

LOTE CEO David Schmid, “As part of our North American growth strategy, we will be targeting governmental incentive opportunities like the one announced in Ontario Canada.  These incentives will add a boost to our value proposition and accelerate our robust growth model.”

According to the company’s website, “The Juice Bar charging station is not just an electric vehicle charging station; Juice Bar is a charging experience. Our highly visible premium charging stations provide an innovative concept in design and branding for Juice Bar EV charging station owners and creates a lifestyle option for end users.”

“At Juice Bar we have a client focused approach; we are about providing owners choice. Owners have the choice in customizing their Juice Bar to fit the needs of their facility, including the ability to partner with sponsors and advertisers to offset the cost, and the choice in charging a fee or not charging a fee to the consumer. We are about providing owners with the option best suited for their overall business objectives and budget.”

We’ve witnessed 62% piled on for shareholders of the listing during the trailing week, but this action is running counter to the larger trend in the name. This is emblematic of the stock. LOTE has a history of dramatic rallies. Furthermore, the listing has witnessed a pop in interest, as transaction volume levels have recently pushed just shy of 1100% over what the stock has registered over the longer term.

Earning a current market cap value of $849.5M, LOTE has virtually no reported cash on the books, which is balanced by virtually no total current liabilities. LOTE is pulling in trailing 12-month revenues of $65K. However, the company is seeing declines on the top line on a quarterly y/y basis, with revenues cratering at -85.6%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. For continuing coverage on shares of $LOTE stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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