SSM Monopoly Corp, has been on quite the ride this year, going to court and seeking custodianship of numerous companies. Specializing in custodianship of distressed companies, they bring new life and value to shareholders. Earlier this year, under the leadership of Kareem Mansour, they were able to seek custodianship of FBC Holding, Inc. (OTC:FBCD). Recent social media surrounding imminent catalysts have caused the stock to runup on its last trading day from $0.0197 to $0.0219, almost 11% landing it on the list of stocks under 10 cents to watch closely.

Catalysts

According to the latest annual report, Kareem Mansour granted himself 2021 Series A Preferred Stock, worth 60% voting right, convertible to 3 billion common stock. In April, he entered into an SPA with Krisa Management LLC, transferring those rights to Krisa CEO, Carey Cooley. Although this has not been ratified through court, Krisa are the new custodians of FBCD.

Due process indicates the need for the attorney to contact all shareholders who hold 5% or more of the shares. The recent attorney letter indicates that the attorney was unable to contact Robert Roever of Capitoline Ventures LLC, Hon Yiu Li, or Mitch Levine. Their shares combined constitute north of 370 million shares, which are likely to be cancelled.

FBCD’s strategy currently is to either acquire or invest in emerging growth and profitable companies with low overhead. This is in an attempt to bolster their balance sheet via acquisitions, joint ventures, and direct investments in companies. FBCD has been inactive for years, with zero revenue, and has zero debt, which is not uncommon for a shell company with shares trading under 10 cents.

The most recent official news we have from the current management is through a tweet posted on Krisa’s official Twitter page on September 30th. The tweet indicates that the company has executed an  LOI with a merger partner, and that the new attorneys and accountants have been introduced, and are undergoing the required due diligence.

The company’s profile on the OTC has updated the securities counsel section, adding the Texas-based law firm Ward Legal Group PLLC. Among the firm’s most prominent specializations is counseling oil, gas, and energy clients. This has led many investors to speculate that the new merger company will be in the oil industry.

Media Sentiment

If FBCD gets a more than $200 million valuation on merger, then @Shauna92118487 could definitely be right.

Technical Analysis

stocks under 10 cents FBCD chart

After peaking at $0.0272 with the news of the LOI, the stock dipped dramatically. During the last run ctober 19th, FBCD witnessed an 11% increase in value – up from $0.0197 to $0.0219. The immediate resistance line stands at .023, with two support lines at .0214 and .0208 respectively. Since the beginning of October, accumulation has plateaued and remains fairly stable. On October 19th, FBCD witnessed a bullish crossover with positive signs for a trend continuation. After starting the day at a low of 37.72, the RSI shot up to 60.42 by market close – signaling a possible dip.

Should You Buy?

Although FBCD currently has no operations, the recent LOI has made investors anticipate that an announcement will be released very soon. Many investors have been speculating an oil merger in Texas state and with energy stocks booming lately, this is likely one of the reasons behind FBCD’s runup. But this stock is seeing major interest among FinTwit investors and as momentum builds – it may not be one of the stocks under 10 cents for long. Although the stock may fluctuate within these bounds until the next announcement, it is bound to explode if the speculations prove true. The immediate resistance line is not far off the current value, however the stock will likely surpass its MTD peak of $0.0272 after the confirmation of the merger.

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