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Solidus Communications Inc (OTCMKTS:SLDC) Stock Takes a Hit: Here is Why

Ian Leigh , , , ,

On Tuesday, Solidus Communications Inc (OTCMKTS:SLDC) was in focus after it announced that it had signed a letter of intent for the purpose of commencing the process of acquiring of Fixed Wireless Access Provider. In a letter that the company sent out to its shareholders yesterday, it was notified that the ticker symbol of the company had been changed to SLDC.

Trading Data

On Tuesday, SLDC stock decreased 31.82% to $0.0030 with 419.04K shares, compared to volume of 536.54K shares. The stock moved within a range of $0.0030 – 0.0044 after opening trade at $0.0044.

SLDC Signs Letter of Intent, Starts Process of Acquisition of Fixed Wireless Access Provider

However, the more important announcement was with regards to the signing of the letter of intent with a regional wireless service provider based out of Central Florida. Once the acquisition is completed, it would add as much as $1 million in addition a revenues a year to go along with $1 million in assets.

Additionally, the new acquisition would also bring more than 1000 customers who would provide a residual monthly revenue to the tune of $93000 a month. Some of the assets which had been included in the sale also included a number of corporate owned tower locations which would expand the reach of Solidus in the area.

At this point the company is involved in conducting the necessary due diligence with regards to assets, customer accounts and financials for the purpose of completing the transaction.

Ian Leigh

Ian Leigh is a specialist in analyzing stocks, SEC and OTC filings, and financials of public and privately-held companies. He has played a significant role in M&A activity, consulting with publicly-held firms on acquisitions and divestitures. He also consults on valuations and branding. He lectures at major universities and teaches at specialty financial schools.