Legacy Holdings Plans Move To The OTC Bulletin Board
Legacy Holdings Inc. (OTCBB PK: LGYH) is up nearly 30% thus far in trading today on news that the company "plans to register as a reporting company under the Securities Exchange Act of 1934, and apply for listing of its common stock on the Over-the-Counter Bulletin Board (OTCBB)".This is exactly the type of progression that we like to see out of our portfolio companies! With the uplisting anticipated to take about 90 days, Legacy is conducting a full financial audit which will shed a bit more light on its operations over the past year.
But the market seems to be quite receptive to the stock prior to audited financials becoming available. At this point, investors appear to willing to play ball just on the percieved potential of the company alone.
The company’s President and CEO Robert R. Matthews is a chemist with nearly 30 years of experience in the semiconductor industry with time spent as a process engineer at Texas Instruments (TXN NYSE) and Intel Corp. (INTC NASDAQ). Furthermore, Legacy's award winning green chemistry related technologies provide a massive value proposition to a number of industries, particuarly the semiconductor world. So, clearly there is a great deal of upside potential here.
Who knows, maybe some audited financials will be all that it takes to move shares past a buck.
Labels: Legacy Holdings Inc, Legacy Systems Holdings, Legacy Systems Inc, LGYH
posted by "Staff" at
11:03 AM
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