HeadsUp Entertainment International Inc. (OTCMKTS:HDUP) has announced updates on May 3rd, 2022, regarding its corporate strategy on a number of acquisitions, mergers and strategic partnerships. It is part of a reverse triangle merger proposal to close several transactions and execute those plans mentioned in the January 11th, 2022 Press Release.
Market Reaction
On Tuesday, HDUP stock soared 49.47% to $0.1420 with 3.01 million shares, compared to its average volume of 305K shares. The stock moved within a range of $0.0930 – 0.1600 after opening trade at $0.1294.
As of now, the company is involved in several phases of negotiations and closings of 8 independent transactions for the consolidation and merger into a surviving entity branded as HeadsUp Global Inc. It will soon apply for a listing on NASDAQ based on asset values and revenues meeting exchange listing requirements.
HeadsUp Entertainment International and its public shareholders plan to be merged into the new vehicle through the filing of a Registration Statement to meet all disclosure requirements and work with the various regulatory agencies to meet their conditions. The mergers and acquisitions, are for reducing dilution, while maximizing shareholder value as multiple closings are in process.
HeadsUp President and CEO Doug Wilson, mentions that he is confident regarding their financial model. It will not only maximize their corporate finance structure, but also build a strong foundation for the numerous sectors they are operating in, so that substantial revenues can be generated.
Key Quote
Each of these agreements have been brought to HeadsUp by Chief Business Development Officer, Mark Hutchinson, whose experience and resume as an icon in the global gaming and lottery sectors is legendary. “We are building the gaming, lottery and digital company of the future” commented Hutchison. “The network of relationships, opportunities and emerging markets are greater than anything I have seen in the business, and I am proud to bring such value to this organization.”
Traders Review
HDUP stock is trading above the 20-Day and 50-Day Moving averages of $0.08 and $0.07 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.06.
