EM Energy, Inc. – RZPK
As you can see below, the stock has recently made a huge move upward:
The recent news is this:
EM Energy, Inc, signs Letter of Intent with Advanced Predictive Analytics, Inc
That release ONLY appears on OTCMARKETS. Here are the key details:
Palm Desert, CA August 14, 2013. PR Newswire EM Energy, Inc. (RZPK) “EM Energy” or the “Company”) is pleased to announce that it has entered into a non-binding letter of intent (?LOI?) with Advanced Predictive Analytics, Inc. (“APAI”), a privately-held, development stage company, regarding a plan of merger with potential acquisition of 100% of the capital stock of APAI by RZPK. The proposed ?Purchase? will result in RZPK exchanging 35,000,000 shares of its common stock for all of the fully diluted shares of APAI?s common stock subject to the execution of a Definitive Purchase Agreement and the approval of both companies? boards of directors. The companies expect to enter into a definitive agreement to accomplish the merger shortly and the transaction is scheduled to close as soon as possible thereafter.
Jerry Cornwell, CEO of EM Energy, Inc. stated “We’re very confident about APAI?s management and its technology team?s ability to unlock significant value for our collective shareholders using EM Energy, Inc. as a public entity.”
“We look forward to the completion of the merger and are excited about the opportunities this will bring our company,” said George Pursglove Chairman and CEO of Advanced Predictive Analytics, Inc. “This merger is an integral part of our company’s long-term growth strategy.” Following the Purchase, Mr. Pursglove will remain at the helm of the new entity.
About Advanced Predictive Analytics, Inc. (APAI)
The Company?s primary focus is to develop and deploy proprietary technology that transforms account risk assessment and the monetary recovery efforts of banks and credit card issuers. Credit card debt charge-offs totaled 46 billion USD in 2011 or approximately 6% of portfolio balances. The software tools developed may also enable the transformation of fraud deterrence and loss recovery in other sectors including: government procurement, welfare support, healthcare, and other venues where capital is made available under specific rules and restrictions.