XLI Technologies Inc (OTCMKTS:MYXY) Shows No Signs of Slowing Down

XLI Technologies Inc (OTCMKTS:MYXY) changed its name and business plan less than a month ago and by the looks of things, investors reckon that this is the right way to go. Either that or there’s too much hype around the company.

The stock has been clawing its way up the list of the most heavily traded OTC tickers out there which, especially in light of the appalling illiquidity prior to the name change, is rather remarkable. The price is climbing as well.

The merger with Bosch International LLC (which should not be mistaken for the German electronics and engineering giant) was first announced on October 23 when MYXY was traded at $0.20 per share. On Friday, the ticker hit an intraday high of $0.70 and it closed the week at $0.62 per share.

Indeed, a quick look might suggest that the recent acquisition is about to turn MYXY into a very interesting company. The new management team which is headed by Mr. James Schramm issued no less than four press releases in a matter of just over two weeks and they talked at some considerable length about the clever nanotech-based LightSheets that MYXY is supposed to sell from now on.

All in all, things are not looking bad, but that’s at first glance only. If you actually take the time to poke really deep, you’ll see that an alarming number of the pictures displayed on MYXY‘s new corporate website can also be found on other websites that belong to distributors of LED panels (which, the latest PR says, are inferior to MYXY‘s lighting solutions). Whether the said distributors got the pictures from MYXY or the other way around is unknown and some of you might think that it’s not that important.

A thing that is important, however, is the new subsidiary’s financial situation, and unfortunately, it, like the origins of the images we talked about a minute ago, is a mystery as well. When the merger deal was closed, MYXY did file an 8-K form but despite the fact that it’s quite lengthy, it doesn’t contain a copy of Bosch International’s balance sheet. We don’t even know if the revolutionary LightSheets are on sale.

The lack of vital information is a bit of a problem because it means that investing in MYXY can only be based on the forward-looking statements in the press releases. And that’s not a very good strategy. Not when there are 25 million shares originally purchased for $50 thousand floating around.

More on them can be found in our previous articles.