By Sanford Hall
Orsus Xelent Technologies (ORS) which trades on the AMEX was down sharply yesterday in early morning trading. It came roaring back and settled around .10 for a closing price. This stock was drag down along with the broader markets after the S&P issued warning on US debt.
On Friday 4/15/2011 (ORS) in their Annual Report (10-K) stated that they were still contemplating a R/S, Merger with another company or some sort of equity loan.
My hope is that they are more so seeking a merer with another company and by the looks of the stock rally a t the end of the day I am thinking along the lines that they have found a merger partner. They did not go through with the R/S as schedule which also makes me to believe they do not want to take that route. If the float is 24M why would they want to do a reverse split when the float is already small float.
Today should be an interesting day given the activities of yesterdays trading, the stock held up mighty strong with a number of accumulation towards the end of the day, closing with an asking price of .1086.
Orsus Xelent Technologies (ORS) which trades on the AMEX was down sharply yesterday in early morning trading. It came roaring back and settled around .10 for a closing price. This stock was drag down along with the broader markets after the S&P issued warning on US debt.
On Friday 4/15/2011 (ORS) in their Annual Report (10-K) stated that they were still contemplating a R/S, Merger with another company or some sort of equity loan.
My hope is that they are more so seeking a merer with another company and by the looks of the stock rally a t the end of the day I am thinking along the lines that they have found a merger partner. They did not go through with the R/S as schedule which also makes me to believe they do not want to take that route. If the float is 24M why would they want to do a reverse split when the float is already small float.
Today should be an interesting day given the activities of yesterdays trading, the stock held up mighty strong with a number of accumulation towards the end of the day, closing with an asking price of .1086.
Business Summary
Orsus Xelent Technologies, Inc., together with its subsidiaries, engages in the design, manufacture, and distribution of cellular phones for retail and wholesale distribution in the People’s Republic of China.
Current Price: .10
Target Price: .25 within 2 weeks.
