SPO Global Inc (OTCMKTS:SPOM) shares were up 100% to $0.00040 on Wednesday after the company released an update to its shareholders, disclosing details on an unsolicited offer it received. The company has a market cap of $50,280.00 at 188.53 million shares outstanding. Share prices have been trading in a 52-week range of $0.00 to $0.02.
SPO Global Inc is a company that is engaged in the design, development and marketing of non-invasive pulse oximetry technologies to measure blood oxygen saturation and heart rate. It has developed a technology that enables the measurement of heart rate and oxygen saturation levels in the blood, which is known as Reflectance Pulse Oximetry (RPO). Through this, a sensor can be positioned on various body parts, hence minimizing problems from motion artifacts and poor perfusion while the design features contribute to lower power requirements and enhance wireless, stand-alone configurations facilitating expanded commercial possibilities.
In its update to shareholders, SPO Global Inc shared that it is continuing discussions for possible acquisition and confirmed that it has been approached by a new party with a possible financial offer. Further details will be disclosed on the conclusion of any transaction.
The value of business coming in, and the growing list of customers verifies the substantial value of our IP. I believe the market cap at the moment grossly undervalues the real worth of our company at this present moment,” mentioned SPO Global Inc CEO Owen Dukes.
Dukes explained that the company has had an outstanding month in sales activity, along with numerous business wins. SPO Global Inc estimates its potential sales from global customers’ requests last month at $184,000. World-leading enterprises from the US and Asian region are responding to the company’s marketing efforts, opening more potential business opportunities. At the same time, the company is working on quoting for two major U.S. local government cities and concluding a contract for an oil complex in Kuwait.
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