Over a year ago, NanoSensors, (OTCPK:NNSR), was talking about a merger. Qualified as a shell with no real assets or operations and sporting a "stop sign" on OTC Markets' website, NanoSensors last April said it executed a definitive agreement to merge with Perspective Technologies, described as a "dynamic cannabis company." Shares of NNSR spiked 10-fold to a high of $0.008 on each piece of news about the merger into a pot stock.
On June 29, 2017, the merger was reportedly completed and NanoSensors was now ready to change names and become a reporting cannabis outfit. Then...nothing. Shares slumped all the way back down to under $0.001. No news from then until today, almost a year later.
Today, NanoSensors (guess the name change never came to fruition) said it reached an official agreement with "a viable candidate to merge into NanoSensors, Inc." The details of the deal were about as vague as what happened over the last year. The shell company only said that the suitor has a budget and many years of financial statements that will satisfy filing requirements of OTC Markets Group.
No business name, sector, industry or anything was provided. It was disclosed that the company's board of directors has over 100 years of professional experience in multiple areas and that national partners and/or associations with top brand and industry companies could be on the horizon.
Terms of the merger are reportedly being finalized and more details on the change of control are forecast for next week.
Despite the lack of news, shares of NNSR have been climbing since mid-April, including a gain of 26.3% on today, most of which came following the press release around 3 PM EDT. With over 21 million shares traded, it looks like NNSR has once again captured the imagination of OTC players that are looking to buy the rumor and see what happens this time around. Time will tell.
