Dolat Ventures Inc. (OTCMKTS:DOLV)
Dolat Ventures Inc. (OTCMKTS:DOLV) shares gained 17.52% after the battery manufacturer announced it was changing its name to JB&ZJMY Holding Company Inc. Pursuant to the name change, the stock will trade in the market under the ticker symbol JBZY. FINRA has already approved the name and trading symbol change.
Dolat Ventures Acquisition
The changes follow the acquisition of the company by Mr. Wang DeQun In January. Mr. Wang acquired 300,000 shares of Dolat Ventures Inc. (OTCMKTS:DOLV)’s Class C preferred stock – convertible into 750 million shares of the company’s common stock.
In January, Dolat Ventures Board of Directors authorized the acquisition of all issued and outstanding shares of Ji Ming Yang Amperex Technologies. In exchange, the company gained one hundred thousand Class D Preferred stock convertible into 100 million shares of the company’s common stock.
The new company is offering current and future employees based in the Republic of China an opportunity to purchase JB&ZJMY common stock units for $0.10 a share. The company is also offering warrants at $0.15 and exercisable for two years.
Tuesday’s rally helped reverse a downtrend that had threatened to push the stock to this year’s lows. The stock is up by more than 200% for the month as it continues to trade in a strong uptrend. Dolat Ventures faces immediate resistance at the $0.16, its 52-week high, level.
Battery Manufacturing prospects
Dolat Ventures Inc. (OTCMKTS:DOLV) bills itself a as manufacturer of batteries for electric automobiles. The company has already developed an automatic, multi-function rechargeable car power plant recharge system, which is a multi-phase lithium-ion battery. The company has also developed an electric vehicle that can cover 600 kilometers on a single charge in partnership with JB & ZJMY Co.
The acquisition of Dolat Ventures by Mr. DeQun should strengthen its prospects in the development of batteries for new energy vehicles. Following the acquisition, the company should access to a number of patents that it can use to extend and enhance battery life. The company will also be able to produce batteries at reduced operating costs.
Dolat Ventures Inc. (OTCMKTS:DOLV) primary goal following the acquisition is to commercialize solutions that address the problems faced by vehicle battery manufacturers.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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