Although it is a shell company, 665 Energy, Inc. (OTC: SSOF) has been gaining interest lately after reverse merging with a water treatment company. SSOF stock recently gained more than 100% overnight on news of the company offering its shares at a price higher than its PPS. As the company is preparing to announce an acquisition after meeting a milestone in this offering, SSOF stock is one to watch closely this summer since it could become one of the best runners in the OTC.
SSOF Stock News
While the company has been operating in the oil and gas industry, SSOF is shifting its business to the water industry by merging with Sustainable Water Solutions Inc (SWS). This company is focused on assembling and developing technologies for sustainable and eco-friendly water treatment systems. As the company is shifting into this new business, SSOF intends to change its name to Sustainable Water Solutions, Inc. Based on this, SSOF stock is one to watch in anticipation as it could soar following this name change.
By shifting to this new business, SSOF has the potential to capitalize on the growing need for clean water by several lucrative markets. As the company sees the growth potential in this market, SSOF intends to supply reverse osmosis, demineralization, tertiary treatment, and other equipment to the market. Based on these plans, SSOF stock has the potential to grow financially from this business shift.
Looking to grow this new business, SWS is currently in negotiations to acquire companies in the water industry. Considering the amount of funds required to facilitate these plans, SSOF filed a Form 1 with the SEC for the offering of 1 billion shares at a price ranging from $.01 and $.075. Given that SSOF is currently trading at $.0032, investors are bullish this business shift could be profitable for SSOF stock as the management believes the company’s worth is much higher than its market price.
For its first acquisition, SWS is already in a confidential LOI with a regional water treatment company where the acquisition would be closed upon the offering meeting 50% of its maximum. Founded in 1985, this acquired company provides industrial equipment designs, systems, technologies, and programs which is in line with SWS’ focus on industrial and portable water solutions.
Through these offerings, SSOF has the potential to secure a significant position in the multi-billion water market since the acquired company already generates high revenues. Moreover, the acquired company has a wide client base that includes the US Government, military, as well as several Fortune 500 companies. In addition, the acquired company holds environmental permits for the chemically intensive process of ion exchange resin and operates a 40 thousand square foot facility. With this in mind, SWS could acquire the facility and the permits for an additional $2.5 million. In light of this, many investors are bullish SSOF stock could be well-positioned for a bright future when this acquisition is closed.
With this in mind, SWS believes that this acquisition is the first step in its future growth plan. To facilitate these plans, SWS is currently in talks to acquire three companies to further grow in the water treatment market. The first company is a manufacturer of steel tanks and heat exchangers used in the water treatment industry. Additionally, this company has the capabilities to build large heat exchangers used in wastewater treatment. In this way, SWS expects this company to realize $6 million in revenues annually.
Meanwhile, SWS is negotiating with a water technology company that provides advanced equipment to small water system integrators. This company also has relationships with Asian manufacturers who assemble the components required to build its equipment. As this company is projected to generate revenues of $12 million annually, SSOF stock could become one of the most profitable OTC stocks.
Despite these companies’ potential, SWS’ most significant potential acquisition is a government contracting company with a GSA contract. Through this contract, SWS intends to offer the products of its acquired companies to the US government. With forecasted revenues of $20 million per year, this acquisition could make SWS a major player in the water treatment industry. In addition to these acquisitions, SWS is currently targeting localized service organizations to support regional services and sales of its potential acquisitions. In light of this, SSOF stock could become one of the best water treatment stocks this year.
Considering the water and wastewater treatment market’s to reach $704 billion by 2027, SWS believes its acquisition targets will allow it to secure a solid position in this market. With this in mind, SWS aims to realize $100 million in revenues annually from its acquisitions to attract an acquisition partner for a buy-out. Based on these plans, SSOF stock could be a profitable long-term hold as SWS’ plan rolls out.
@JohnRSpano1 is bullish SSOF stock could break $.005 this week.
@WildRhino is confident in SSOF stock’s long-term potential.
SSOF stock is currently trading at $.0032 after climbing 94% overnight. The stock shows supports at .0026, .0021, and .0015. Meanwhile, SSOF has resistances near .0035, .0039, and .046. On the 1 hour chart a golden cross recently occurred which could signal a run in the near future. This is supported by a bull flag forming on the 1 hour chart which could send SSOF stock near $.005. Based on this, investors could take a starter position and add to that position as the price goes up if it continues to witness high trading volume.
With the company offering 1 billion shares at a price range of $.01 and $.075, accumulation is trending upwards as investors are bullish on the offered share price. At the same time, the MACD is bullish to the upside. The RSI is picking up at 71 indicating SSOF stock is overbought. In light of this, long-term investors could find an entry point when these indicators reset in the short term. SSOF has an OS of 699.9 million and a float of 489.4 million.
SSOF Stock Forecast
After securing a profitable merger with SWS, SSOF stock is emerging as a favorite to many OTC investors. With the company offering its shares higher than its market price, many investors are bullish SSOF stock could be positioned to reach a penny when the company’s plans roll out. On that note, SSOF is already in an LOI for its first acquisition which is expected to be closed when the offering meets 50% of its maximum. Meanwhile, SWS is in talks with three more companies to acquire and could close these deals upon SWS’ registration. Given the potential of these acquisitions, SSOF could be on track to realize its expected $100 million revenues. With the company planning to change its name to Sustainable Water Solutions, SSOF stock is one to watch this summer as its upcoming catalysts roll out.
If you have questions about SSOF stock and where it could be heading next feel free to reach out to us in our free alerts room!
Please visit and read our disclaimer here.