ProText Mobility, Inc. (OTCMKTS: TXTM) Closed Up Another 49.28% Yesterday, After News Of Reverse Merger With Republic Of South Africa Medical Marijuana Dispensaries RSAMMD™.
ProText Mobility, Inc. (OTCMKTS: TXTM) closed up another 49.28% yesterday, ending the day at $.0103. This marks a 472.22% gain from its close at $.0018 just four trading days ago, last Friday. As we mentioned in yesterdays TXTM news update, the reason for the fast movement, even in the face of overall market-wide decline, came as a result of the company completing a reverse merger with Republic Of South Africa Medical Marijuana Dispensaries RSAMMD™. As mentioned in yesterday’s update, we want to mention again that TXTM was not a Platinum Member release, and we have been reporting on it purely out of our interest in the developments with this company.
We mentioned yesterday that the sudden price per share growth of TXTM began after RSAMMD announced on Sunday June 12th, 2022, that the company completed its acquisition of TXTM, which meant that they had reverse merged into the shell, which immediately merged the full value of RSAMMD into the ticker and that full value is widely believed to be substantial. The reason for this value to be widely believed to be substantial, has to do with the fact that investors are billing RSAMMD as being one of, if not the largest marijuana and hemp growth operation in the world. With a reported 1,000 hectares of land, traders have widely circulated among themselves online that this could lead to annual revenue of over $7 billion.
As we explained in yesterdays update, whenever the potential of billions of dollars comes into the conversation with penny stocks, we always suggest operating with caution because the vast majority of the time, that scenario that seems far too good to be true, pans out to be just that. That risk goes double time when involving the reverse merger of foreign companies into U.S. based shells. On that same note though, if the widespread expectations for RSAMMD do pan out to be true, the resulting growth of TXTM could just be in its infancy stages. We still would not suggest betting it all, so to speak on a play like this because the risks are always exponentially high when dealing with these sorts of international reverse merger plays because due to the company being overseas, there is far less oversight from U.S. regulators. Either way though, TXTM is certainly still one to watch.
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