Biozoom, Inc. (OTCBB:BIZM) Are On A Month-long Climb After Name and Ticker Change
Biozoom, Inc. (OTCBB:BIZM) have been on fire ever since they decided to ditch their former name of Entartainment Art, Inc. and change the direction of their business. Last Friday marked the highest step, at least for now, of their steady climb upwards. The ticker began attracting interest slowly but now it has picked up considerable momentum and is currently sitting at $1.7 with more than 3 million shares traded during the last market session.
This impressive run can be attributed to the potential of their last acquisition because prior to it the company was deemed a “blank check” shell. They had no assets, virtually no revenues and were only accruing losses. That is why the decision to abandon the initial idea of designing, providing and selling leather products comes as no surprise.
What is a surprise though, is how they managed to close the acquisition with the Opsolution group of companies when one of terms for the deal required $50 thousand to be provided in cash. Nevertheless, on February 28 they finalized it and entered into a letter agreement outlining the terms of a joint venture with Opsolution GmbH thus gaining access to a product with immense potential.
The Opsolution entities have been developing a mobile, handheld, biofeedback health scanner. The device reflects a beam of light off the skin and measures the differing wavelengths, or in technical terms – transdermal reflection spectroscopy. This technology can measure a range of vital indicators without the need of invasive procedures, e.g. blood tests. The scanner sends the gathered data to the company’s servers and then the user receives a personalized analysis regarding his or hers health. The developers of the product worked with Vodafone in order to create a two-way application for cell phones and with Carl Zeiss for the required optics. In 2012 Opsolution GmbH even received a grant from the German government in order to continue the development.
Now, disregarding all the forward-looking statements and promises, the product has yet to be launched on the market and be accepted by consumers. Last week we received a couple of pump emails from ChatterBoxStocks and Awesome Stocks, affiliates of Tribeca Investment. Although this time they disclosed receiving no compensation they may be harbingers of a bigger pump for the company. Last but not least, the consolidated financial report is also due to be filed soon and depending on the numbers it contains it may bring a sharp correction to the hyped up stock. For the moment it all sounds a bit too good to be true so take all the PR news articles with a grain of salt and be sure to do your own due diligence.