Published On: Thu, Sep 29th, 2016

SPO Global Inc (OTCMKTS:SPOM) Declines Despite Encouraging Updates

SPO Global Inc (OTCMKTS:SPOM) has issued an update for shareholders, about recent events, which add to the valuation of the company. The update pointed towards a recent announcement by Micro Focus International Plc, a public company based in the UK, to merge with Hewlett Packard Enterprise. It should be noted here that HPE’s LoadRunner is a competitor to the company’s Stress Tester. SPOM believes that this indicates a clear pattern in its market space.

The company CEO, Owen Dukes, stated that Micro Focus is known for acquiring a number of niche software companies, with high barriers of entry. He also pointed out that most of these acquisitions also had their own IPs and robust scalable solutions. The CEO also stated that now any potential sale made by the business would receive the best possible valuation. Mr. Dukes went on to reveal that SPOM was working towards developing a full feature rich solution, for its consumers.

Mr. Dukes also pointed to the influx of increased potential purchase activity and claimed that his main focus was the growth of the company, through the closure of large enterprise contracts. He identified his current market to be in North America, where majority of the sales opportunities lie. This was the second update issued by the company, in less than a month’s time.

Earlier SPO Global had issued an update for shareholders, providing details of the current state of business. The company revealed that it has terminated its engagements with Blackbridge Growth Fund. As such, the registration of free trading shares, with the SEC, under a Reg A statement, has now been canceled and Blackbridge would stop providing capital raising services to SPOM. Moreover, the board of directors has been informed that the business is undervalued and an independent valuation should be conducted, prior to sale of the business.

SPO Global Inc (OTCMKTS:SPOM) lost 28.57% of its share value, during the September 28 trading session, to close at a share price of $0.0005. The stock had a trade volume of 106.63 million.

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