Protext Mobility (OTC: TXTM) is back in the news with its stock prices surging again on July 23rd. The company, which has already confirmed its filings and intent to go pink current, reached a high of $.0046 on July 27th. Suddenly increasing 130% over only 6 days, TXTM is finally delivering on the rumored hype from February when TXTM stock price reached an all time high of $.0080.
With David Lewis at the helm as acting CEO, TXTM has seen a pivot to the rapidly developing Cannabis sector. As CEO of Choice Wellness, Inc. (OTC: CYIO) Lewis has acquired specialized experience in developing and marketing specialty branded products for the health or wellness markets.
This aligns perfectly with the mission of TXTM’s joint venture partner – Republic of South Africa Medical Marijuana Dispensaries (RSAMMD) – which seeks to improve the lives of those suffering from debilitating medical conditions using specially formulated, medical grade cannabis products. This pairs nicely with Protext’s wholly owned subsidiary Plandia Biotechnology South Africa which has been innovating with the pharmaceutical application of botanical extractions, potentially applicable to the cannabis industry.
Operating with “an exclusive worldwide license to develop pharmaceutical applications and products using the Phytofare® catechin complex”, Plandia Biotechnology’s product “can deliver a therapeutic level of catechins” that act as powerful antioxidants for the human body. Remaining active for over 24 hours, Phytofare® has 10 times greater bioavailability over other, generic catechin extracts.
TXTM’s second wholly-owned subsidiary, Cannabis Biosciences, has reportedly been working to obtain the licensing required to produce a full-profile cannabis extract containing both CBD and the precursor acid form of THC – traditionally only found in live cannabis plants. Using its proprietary processing and extraction technology, Cannabis Biosciences hopes to create a non-psychoactive extract with full medicinal potential that could be enhanced by Phytofare® extracts.
All of these were factors of the Letter of Intent signed by RSAMMD and Protext Mobility Inc. in April. According to the agreement, they will form a joint venture partnership in order to test this extraction technology using live cannabis and hemp plants before commercializing the extracts.
Additionally, TXTM and its subsidiary have made a point of working with the South African government throughout this process and now, with the addition of RSAMMD, they are likely closer to declassifying this extract from a Level 6 controlled substance to a Level 0. If successful, this declassification could help the company capitalize on global distribution.
While both parties could be waiting for the OTC markets to make TXTM current, it is unsure when we’ll see the fruition of this exciting technology. Protext Mobility has regularly retweeted RSAMMD’s progress, fueling speculations that a product announcement is on the horizon.
Currently the stock is trading at $.0038 – a 123% increase since our last TXTM article – and remains capped at 6.5 million. Comparing the average volume of about 154 million to its current volume of 746 million shows an incredible amount of recent activity surrounding this stock. But, as exciting as this opportunity is, remember to sell on the way up. the TXTM has a lot of factors going for it; everything from its sector, innovative technology, and strong bid support point to a good chance for growth. For this reason, we could see TXTM hitting $.008 in the weeks ahead.
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