Lot78, Inc. (OTC Pink: LOTE) is engaged as a business development company, which currently has a heavy focus on electric vehicle charging stations. Shares of the acquisition & development company are gaining 6%, through afternoon trading on Wednesday, April 19, 2017. Over the past month, Lot78, Inc. has seen average daily volume of 108,499 shares. However, volume of 336,063 shares or dollar volume of $319,259, has already exchanged hands on Wednesday.
Shares of Lot78, Inc. are seen rallying today, after the company recently announced that they plan to target electric vehicle charging opportunities that carry $20 million in incentives from the city of Ontario, Canada. The company has already signed an exclusive agreement with sPARK Electric Vehicle Charging, which will sell and install Lot78, Inc.’s Juice Bar electric vehicle charging technologies. Here is the full press release detailing of the Canadian electric vehicle charging expansion:
Lot78, Inc. Press Release:
TOLLAND, Conn., April 18, 2017 /PRNewswire/ — Lot78, Inc. (LOTE), announces its intention to target opportunities associated with the Province of Ontario’s announced $20MM of incentives to build electric vehicle charging stations. LOTE has signed an exclusivity agreement with sPARK (www.sparkev.ca) Electric Vehicle Charging to market, sell and install Lot78, Inc.’s Juice Bar Electric Vehicle Charger (www.juicebarev.com) products in Canada.
LOTE CEO David Schmid, “As part of our North American growth strategy, we will be targeting governmental incentive opportunities like the one announced in Ontario Canada. These incentives will add a boost to our value proposition and accelerate our robust growth model.”
ABOUT LOT78, INC.
The Company was incorporated in the State of Nevada on June 27, 2008. On March 14, 2011, the Company filed a Certificate of Amendment with the Secretary of State of Nevada changing the name of the Company to “Bold Energy, Inc.” On November 12, 2012, the Company, then under the name Bold Energy, Inc., entered into a Share Exchange Agreement with Anio Limited a limited liability company established under the laws of the United Kingdom (“Anio Ltd.”), which conducts its primary line of business under the name Lot78, Inc., the shareholders of Anio Ltd., and the controlling stockholders of the Company. The company changed names to Lot78, Inc. on January 31, 2013. On July 15, 2016, the Company entered into a Letter of Intent to merge with Compound Holdings, LLC, a Connecticut limited liability company. Subsequently, on July 18, 2016, the Company and Compound Holdings LLC entered into a definitive Agreement and Plan of Merger. Pursuant to the plan of merger, upon closing, the Company intends to change its name to Compound Holdings, Inc.