For a while now, Solar Energy Initiatives, Inc. (OTC:SNRY) has been evaluating various merger candidates from different industries. Now that the company has closed its anticipated merger, SNRY stock has caught many investors’ attention. Bullish investors are hoping that SNRY will retest December’s high with a penny break based on the major revenues of the merging company.
SNRY Stock News
To ensure a smooth and successful merger, SNRY has focused on providing investors with regular updates and developments through its new official twitter account. Despite a lengthy merger process, SNRY’s management is bullish the incoming company will deliver shareholder growth given its promise of no reverse split or dilution.
As of now, there is speculation surrounding the possibility of a merger within the metaverse or crypto industries. While the company is yet to disclose any details regarding this, investors seem confident in Krisa Management’s ability to secure a profitable merger candidate. With decades of experience in management consulting, Krisa Management LLC has helped various companies with strategic planning, mergers and acquisitions, venture capital and OTC market compliance.
The company is already showing major signs of progress as it recently announced its last meeting with the merger candidate along with a website re-launch. In fact, the company is expecting to sign an LOI in the coming days. Following the merger, Krisa Management’s CEO Carey W Cooley will remain on the company’s BOD for a period of 2 years to ensure growth for shareholders.
With the merger announcement on the line, many are bullish SNRY’s 1.5 billion float could prompt a run on news. Afterall, with only a market cap of only $7 million, SNRY clearly has a lot of room to grow with this merger. Even though no reverse split or dilution will take place as a result of the merger, the company has notified investors of a possible increase in AS in the event of issuing a small voting share control block.
*Updated March 14th
SNRY stock is seeing a lot of action after the company shared it was in the final stages of its Texas-based acquisition. With the terms of the acquisition set through the formal LOI, the company is working to update its site to reflect the merging company.
Investors are very eager for this merger to be finalized after SNRY’s announcement that the merger candidate is a well-established company with over six years of operating experience. Furthermore, its pre-existing revenues are higher than SNRY’s market cap of $8.2 million making the stock a potentially cheap buy at current levels.
While the company has released very little information regarding the merger candidate, it has plans “to aggressively roll up additional acquisitions”. With that in mind, bullish investors are waiting on an update from the company this week.
*Updated March 25th
Delivering on its promises to provide an update on the anticipated merger this week, SNRY closed its merger with a company generating over $10 million in revenues. With an LOI signed, SNRY and the merging company will aggressively pursue acquisition opportunities.
For the deal to be done, SNRY has to increase its authorized shares due to the issuance of preferred shares to complete the deal. However, SNRY’s management promised its shareholders that the issued shares are to cover the control of the merging company and not for dilution.
Reassuring its shareholders, SNRY promised that the AS increase will not be major. Through this increase, the company plans to pursue several acquisition opportunities. With promises of no dilution or reverse split, SNRY stock has the potential to surge after announcing the merging company.
Media Sentiment
@Jcazz17 is bullish on SNRY’s merger given the profitability of the merging company.
Technical Analysis
Currently, SNRY stock is trading at its main support at $.0046 and shows a secondary support at .0043. SNRY stock shows a main resistance at .0052 as well as a secondary resistance at .0055. SNRY stock’s accumulation has been gaining momentum since the company sent updates on its anticipated merger. While the MACD is bearish, the RSI is at 47 after rising from 40.
With the merger closed, accumulation has been rising due to investors bullish on SNRY stock’s potential after the merger. Considering that the merging company is already generating major revenues, many investors expect SNRY stock to penny break – as more news on the merging company unfolds.
SNRY Stock Forecast
With the anticipated merger closed, SNRY stock is getting on many investors’ radars. Currently, the company’s website is under construction but once updated with the merging company’s industry and future plans, SNRY could retest December’s high with a penny break. As is, SNRY has promised it will not pursue a reverse split and has no plans for dilution. With investors anticipating the merging company’s announcement, SNRY stock will be one to watch.
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