Penny Stock on Watch: Solos Endoscopy Inc. (SNDY) up 20% Thursday
Shares of Solos Endoscopy Inc. (PINK: SNDY), a healthcare technology company engaged in the development and marketing of technology applications, medical devices, and procedural techniques and management of medical conditions, soared in Thursday’s trading session.
The penny stock of Solos Endoscopy ended the day 20% higher at $0.0072, with volume up from daily average of 30.76 million to 154.16 million.
Solos Endoscopy earlier this week announced that its Board of Directors completed the retirement of 150,000,000 common shares held by its officers and directors in exchange for Series B Convertible Preferred Shares. The transaction resulted in reduction of approximately 22% of the company’s issued and outstanding common shares.
Bob Segersten, president of Solos Endoscopy, said that the share retirement allows Solos to maintain integrity of its market while continuing to develop its new product line.
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Posted by Shaun Johnson
on Friday, February 17th, 2012. Filed under Internet, Stocks.
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