Lot78, Inc. (OTCBB: LOTE) is a business development company based in Connecticut. The Company plans to invest and help grow companies it believes are either under-preforming or would be helped by the business experience of the Company.
The company recently announced its intention to target opportunities associated with the province of Ontario’s announced $20 MM 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 Lot 78, Inc.’s Juice Bar Electric Vehicle Charger (www.juicebarev.com) products in Canada. The Company is immediately targeting a 20% holding in an electric vehicle charging station company, Juice Bar EV.
As per management, this move is a direct result of company’s strategy to grow in the North American region. LOTE will be targeting governmental incentive opportunities like the one announced in Ontario Canada. These incentives will add a boost to its value proposition and accelerate robust growth model for the company.
LOTE’s electric vehicle charging station has already passed all regulatory requirements and the US Government (General Services Administration; GSA) approved its New Electric Vehicle Charging Stations for Federal Facilities. Annual expenditures in the GSA market are in the $25 billion range & GSA buys can be of any size; there’s no limit.
GSA’s acceptance of its electric vehicle charging station, known as Juice Bar EV, is further confirmation that the company has the right products, with the right team in place exactly at the right point in time.
Early this month, LOTE also announced its participation with Los Angeles Water and Power (LAWPD) in an innovative pilot program that uses light poles and the electricity from them to install electric vehicle (EV) charging stations.
As per management, this innovative program which leverages Juice Bar’s Mini Bar electric vehicle charging station and the company’s proprietary mounting system provides a quick and super cost effective way to add to any City’s EV infrastructure and is a true game changer for the future of electric urban mobility.
Given the transition to electric vehicles, with many countries focused on global warming, LOTE is well positioned to increase its position, substantially. Electric car companies, have been growing their production, and there has been a surge in demand for electric vehicles. Consequently, as more and more consumers potentially shift to electric vehicles, this is likely to increase the demand for LOTE charging stations.
Due to the aforesaid developments, company’s stock continues to witness strong upgrade. LOTE reported increase in price/volume backed by its robust guidance laying foundation for revenue visibility and business growth.
Also, given that LOTE’s offerings would attract a category of investors, which are environment friendly and demand investments in such businesses, it is logical, that company’s like LOTE could be a good option for secondary investment in the renewable energy sector.
Description & about the Company: The Company was incorporated in the State of Nevada on June 27, 2008. On March 14, 2011, it 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 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.
About sPARK: SPark currently offers premium electric vehicle charging technology, in combination with customized installations and creative marketing options in order to provide a unique charging experience. SPark also provides turnkey EV Charging solutions to residential and commercial, as well as industrial clients in Canada.
About Juice Bar: The Juice Bar charging station is not just an electric vehicle charging station; Juice Bar is a charging experience. Its highly visible premium charging stations provide an innovative concept in design and branding for Juice Bar EV charging station owners and creates a lifestyle option for end users.
Key announcements:
The company has been aggressively focusing on its North American growth strategy & has announced its intention to target opportunities associated with the Province of Ontario’s announced $20MM of incentives to build electric vehicle charging stations.
Also, it has signed an exclusivity agreement with sPARK (www.sparkev.ca) Electric Vehicle Charging in order to market, sell and install Lot78’s Juice Bar Electric Vehicle Charger (www.juicebarev.com) products in Canada.
As per management, The Canadian electric vehicle charging station market is one that is rapidly emerging as an opportunity for major growth as more electric vehicles become available to the company’s neighbors to the north. Its Juice Bar Electric Vehicle Charging Stations has taken a decisive step in partnering with an innovative company like sPARK with its experienced and diversified management team.
Additionally, the company recently announced that it is participating with Los Angeles Water and Power (LAWPD) in an innovative pilot program, which uses light poles and the electricity in order to install electric vehicle (EV) charging stations.
Key Stock Influences & Risk Factors:
The company’s future prospects are significantly dependent on meaningful large-scale commercialization and market acceptance of its offerings. Therefore, its ability to successfully gain market share while diversifying its customer & regional base, is critical for its business risk profile.
The company is likely to generate substantial net losses and negative cash flow from operations over the near term. Therefore, LOTE’s available cash balance might not be sufficient to fund its anticipated level of operations for at least the next twelve months. Therefore, timely arrangement of incremental funding would remain a critical liquidity & financial flexibility factor.
Earnings Review:
The company is yet to achieve proper commercialization of operations & therefore do not have meaningful financial reporting yet.
Stock Performance
On Friday, April 21st, 2017, LOTE shares declined by 18.75% to $0.65 on an average volume of 237,365 shares exchanging hands. Market capitalization is 106.93M. The current 14 days RSI is 48.97
In the past 52 weeks, shares of LOTE have traded as low as $0.17 and as high as $8.25 (stock split happened on Oct 31st 2016, 1:275)
At $0.65, shares of LOTE are trading above their 50-day moving average (MA) at $0.6.
The present support and resistance levels for the stock are at $0.5933 & $0.7633 respectively.
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