12 Retech Corp (OTCMKTS:RETC)
12 Retech Corp (OTCMKTS:RETC) was up by 76% in Tuesday’s trading session, days after announcing it had retained the services of Ten Associates as its investor relations advisor. The rally also comes after the company discussed its vision for the future of retail and how it plans to generate revenues. The innovative retail technology company is also fresh from acquiring a 100% stake in 12 Japan Limited as it continues to expand its footprint in the industry.
12 Retech Corp (OTCMKTS:RETC) is a retail technology company focused on acquiring, developing marketing, and selling mobile application software. The company develops interactive technologies designed to get consumers back to brick and mortar shopping centers malls, train, bus stops and other high traffic areas. Its lead product is Hotchek which was designed to enable users easily engage with network audience.
12 Japan Acquisition
The signing of a Share Exchange Agreement for the acquisition of a 1% stake in 12 Japan Limited is poised to expand the company’s footprint into Japan. Pursuant to the agreement, the company is to issue 5 million shares of its common stock and 500,000 of its Series A preferred stock to finalize the transaction.
The acquisition will provide 12 Retech Corp (OTCMKTS:RETC) with access to 12 Japan’s operating assets that are currently generating licenses in Gitoya department store owned by prestigious retailer ITOYA of Tokyo Japan. The store installed 12 Retech’s USXS Mirror Technology on its sales floors thus helping sales personnel locate with ease products for shoppers.
“Our first benefits from introducing the USXS system at our main store is that our sales clerks can easily search any product in stock and check the inventory. This enables us to quickly find what the client is looking for, to confirm the inventory situation and to communicate with the staff in the warehouse,” said Mr. Akira Ito, President of ITO-YA Limited.
Separately, 12 Retech Corp (OTCMKTS:RETC) has engaged the services of Ten Associates to help enhance communications with the investing public. The firm will be responsible for dissemination of press releases speaking engagements at industry and financial conferences.
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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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.