International Lottery & Totalizator Systems, Inc. (OTCMKTS:ITSI) Livens Up
The stock of International Lottery & Totalizator Systems, Inc. (OTCMKTS:ITSI) rarely gets any attention from investors. Yesterday, however, things were much different and we saw quite the trading, accompanied by a decent price jump.
The stock gapped up and opened at $1.15 per share and continued to climb during the session, despite the bursts of trades. In the end of the day, ITSI managed to close with a 33.33% gain in value at $1.28 per share.
The 335 thousand shares that switched hands during the session generated some $441 thousand in dollar volume and we are not really surprised about that, considering the headlines about ITSI in Yahoo! Finance.
Apparently the company filed a report for a merger with Delaware International Lottery & Totalizator Systems, Inc. (a wholly owned subsidiary of ITSI) and a reverse stock split of 9,245,317 for 1 shares that will follow.
People left with less than one share will be paid $1.33 in cash per share of pre-reverse split stock, so that pretty much explains yesterday’s movements. We expect that things will get quiet soon, because ITSI isn’t the speculative play that people trading in the OTC markets are looking for, considering their latest financial statement.
- cash: $7.5 million
- total assets: $14.1 million
- total current liabilities: $3 million
- quarterly revenues: $8.7 million
- quarterly net income: $1.9 million
All in all, ITSI remains to be an enigme in the OTC markets, with its low trading and decent financials and can go anywhere from here. This is the exact reason for which we would advise you to do your own due diligence and weigh out the risks before you decide to take a bet with them.
Cannabis Science Inc. (OTCMKTS:CBIS) also registered a good gain yesterday, going 24% up on a volume that generated $24.3 million in dollar volume. Growlife, Inc. (OTCMKTS:PHOT) on the other hand, sunk 26% on a massive volume.
