Adama Technologies (OTC: ADAC) Going Wild
August 24th, 2010 at 10:33 am Posted by
Adama Technologies Corporation (OTC: ADAC) is a brownfield remediation company whose foundation lies in its patented technology, which is said to successfully treat all Resource and Recovery Act (RCRA) and Universal Treatment Standards (UTS) metals.
On Monday, ADAC announced the appointment of Uri Mingelgrin, Ph.D. as its Chief Scientific Officer. Mingelgrin’s experience includes government and the private sector, including Deputy Director of Research, ARO, The Volcani Center, Bet Dagan, Israel; Israeli Representative to the Panel of Environmental Experts of the International Permanent Court of Arbitration, The Hague Netherlands; Chief Scientist, Israeli Ministry of the Environment; U.N. Consultant to the Institute of Technology of Nuclear and Other Mineral Raw Materials, Belgrade Yugoslavia; and others.
This morning, the Company announced their entrance into negotiations with a privately-held clean tech company based in Israel. The company reportedly holds approximately $4 million in assets and expects to generate revenues of approximately $10 million in 2011. The would-be merge could provide ADAC with a number of benefits, including “increased cash flow, revenue, a broadened product portfolio and access to their existing and growing client base.”
So far today, ADAC shares have gained as much as 721% over Monday’s close of $0.0023, trading as high as $0.0189. In just the first hour of trading, ADAC has traded over 14.5 million shares, or more than 10 times its 10-day average volume.
Currently, ADAC is trading up 660.87% at $0.0175 per share.
Where do you think we’ll close today??? Will we see an afternoon / EOD rally?