Tonner-One World Holdings, Inc. (OTC:TONR) – initially a provider of multi-cultural doll products – currently holds no operations. Under its current management, TONR is working on entering new industries such as crypto exchanges, DeFi, and Fintech. Crypto penny stocks investors are keeping an eye out for TONR after its 1,500% increase since September 13th.
TONR has recently created an official Twitter account – @TonnerOne – to keep shareholders updated while its website is under development. Here it posted a breakdown of its next steps: become pink current, cancel debt, share cancellation, merger, and OTCQB listing. As a crypto penny stock, TONR’s potential merger is particularly exciting for investors.
According to its annual report, TONR plans to conduct a reverse merger in Q4 of 2021. However, the merger candidate and details are not yet determined. Because TONR is not yet current, this information is expected to be released after becoming pink current. The company updated its disclosures in mid-September but due to OTCMKTS backlog, companies’ applications are expected to take approximately 14 days to process. With this in mind, investors are expecting TONR to become current by the September 28th deadline which is good news for crypto penny stocks investors.
Although no details have been released regarding TONR’s debt cancellation, it is clearly on its management’s agenda. According to its quarterly report the company has engaged legal counsel to review its shareholder list and identify any outstanding common stock that can be eliminated. TONR’s details have since been updated to showcase a total of 3.2 billion shares, which could help prevent dilution if there are no restricted shares.
TONR’s CEO and sole officer, Corinda Joanne Melton, is an established entrepreneur with over 22 years of management experience in the banking, product, and services industries. According to the company’s filings, TONR “has plans to merge with an operating cryptocurrency, DeFi, or FinTech business”. Its other areas of interest include “mining, crypto-currency operation, green energy, digital banking, real estate lending” and other sectors.
Investors like @SpacTraderinTra seem very bullish of TONR’s potential.
Currently trading at $0.0067, TONR has hit its highest value in the past five years on September 24th, trading at $0.0075. Trading at only $0.0004 in mid-September, the stock has witnessed an increase of over 1500%. Its current support line stands at .0006. With a general upward trend in accumulation, the stock has shown some volatility in the last few days. Its MACD most recently showed a bearish crossover.
TONR’s RSI has also shown extreme signs of volatility – fluctuating above 70 and peaking in the 80s more than 6 times. Now rebalancing, its RSI is holding at at 59.92 currently.
Should You Buy?
With these anticipated catalysts, and the company likely becoming current by tomorrow, the stock’s volume is notable. News of entering into cryptocurrency and its potential merger has fueled excitement among crypto penny stocks investors. What is most striking about TONR is the amount of momentum surrounding the stock – as indicated by its 1500% increase over roughly two weeks. In the short-term, TONR could continue its runup and hit $0.01 in the process with confirmed news from the company.
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