International Star, Inc (OTC: ILST) is one of the hotly anticipated stocks in line for a merger. ILST’s operations were long focused on the acquisition and development of mineral property interests but its recently updated OTC profile shows that it has “shifted its business focus to FinTech, Defi, Blockchain, Metaverse, NFT, Crypto and gaming industry”. After Currier updated investors on ILST’s status, promising more news was on the way, ILST surged 46% with many investors speculating as to the company’s potential merger candidate. With anticipation building each day, ILST is shaping up to be one of the hot penny stocks to watch this year.
Coming from a finance background, Igwealor is also known for his experience as a CEO across the technology, education, and engineering industries, In light of this, he has the knowledge and skill to determine profitable merger candidates for companies as demonstrated by JPEX which is merging with a company operating in the billion dollar cybersecurity and cloud services market. This success has only added fuel to the fire as investors wait to hear ILST’s merger details.
Alpharidge’s custodianship was terminated earlier this month – a sign that merger news may be released very soon. This appears to be the case as ILST discloses that its “first merger has been finalized and waiting for rollout”. Given the sectors ILST is focused on, some investors are speculating that the merger could help ILST uplist to OTCQX.
This suspicion was fueled by Igwealor’s hints at the OTCQX when discussing ILST. Given that the the OTCQX is the top tier of the OTC and companies listed there “must meet high financial standards, follow best practice corporate governance,” among other requirements, ILST’s merger candidate could be very impressive.
This is because companies listed on the OTCQX include “a large number of blue-chip stocks from Europe, Canada, Brazil, and Russia.” If the merger candidate is a large foreign stock looking to list in the US through the OTCQX, then ILST shareholders could be the recipients of a major gift.
It appears that ILST will start the year with a bang as the company is already evaluating various acquisition candidates in the FinTech, Defi, Blockchain, Metaverse, NFT, Crypto and gaming sectors. With the vision of building “a robust top-level finance, technology and blockchain enterprise”, ILST could be one of the best cheap stocks to invest in.
To facilitate these plans, ILST has brought Caren D Currier on as a company insider. Given her expertise in completing merger processes, her presence inside the company is a bullish sign for many investors.
ILST is also in the process of filing for a share reduction and has already managed to reduce ILST’s AS from 3 billion to around 2.01 billion. Although still not reflected on its OTC Markets profile, once the company’s Transfer Agent finalizes the paperwork the share structure is expected to be updated.
On top of this, ILST has a clause prohibiting dilution or reverse splits for the next two years thanks to Igwealor’s custodianship. With this in mind, ILST could be one of the hot penny stocks to start 2022 with.
*Updated March 22nd
After speculations that a merger was coming soon due to the termination of Alpharidge’s custodianship, ILST was left with Currier as its majority shareholder – holding 60% of voting rights according to its latest annual report. While the merger is yet to be announced, many investors remain bullish on ILST’s potential given Currier’s reputation as a reverse merger specialist.
Recently, Currier updated investors promising news would be released soon. Following this, ILST has been gaining momentum and its PPS spiked 46% amid speculations that the news could be regarding the potential merger.
On that note, VeeMost Technologies recently announced that its expected merger with JPEX has fallen through and the company will continue searching for a merger candidate. In light of this, many investors believe that ILST’s merger could be with VeeMost.
As a digital services provider, VeeMost helps its customers become more efficient and profitable by implementing its digital solutions. The company’s CEO Melvin Ejiogu has over 25 years of experience in the technology industry and is one of the few people to receive the Cisco Certified Internetwork Expert certification. It is also worth mentioning that VeeMost is considered a leader in its industry and has partnerships with a number of large companies like Microsoft, Cisco, and Citrix.
Operating in the fast growing cybersecurity market, VeeMost is already profitable and has a pipeline of over $75M in contracts and services. Its client retention rate is also over 98% – making its long-term revenue generating potential very attractive to investors.
Considering that ILST is shifting to the tech industry, a potential merger with VeeMost could prove to be profitable. However, the company has not officially stated anything regarding the merger and until the impending update, investors will be left to speculate as to ILST’s future merger candidate.
On the other hand, Currier’s history of successful reverse mergers is a bullish sign of what could be in store for the company. In light of this, ILST could have a very attractive merger in its future – making it on of the hot penny stocks to watch this quarter.
@WhalePenny is adding more shares on the dip in anticipation of the company’s merger.
@SaraGoingUp and many other shareholders are eagerly awaiting ILST’s next update
Currently trading at $.0057, ILST shows a resistance at .0063. The stock shows a main support at .0053 and a secondary support at .0048. Accumulation has been on an upward trend since Currier’s update and the MACD is bullish. Similarly, the RSI is at 59 after rising from 43.
The spike in all these indicators could be attributed to investors’ confidence in Currier and her plans for ILST. Considering Currier’s reputation as a merger guru, ILST has the potential to break through its resistance with more news regarding the expected merger.
ILST Stock Forecast
ILST’s updated industry focus, impending merger, and possible plans to uplist to the OTCQX, are quickly making ILST one of the hot penny stocks to watch. Depending on the company’s next moves, ILST could recover much of the ground it lost following VeeMost’s exit from its merger with JPEX. Given investors’ speculation regarding this hotly anticipated merger, ILST’s momentum could continue to build with speculation until its merger candidate is officially announced.
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