x min read

All State Properties Holdings Inc (OTCMKTS:ATPT) Gets A Close Look

All State Properties Holdings Inc (OTCMKTS:ATPT) Gets A Close Look
Written by
Jarrod Wesson
Published on
October 26, 2017
Copy URL
Share on LinkedIn
Share on Reddit
Share on Twitter/X
Share on Facebook

All State Properties Holdings Inc. (OTCMKTS:ATPT), which owns EnergyOne Technologies, Inc., a renewable energy solutions company, seems to be waking up.As much as 400 million shares have changed hands recently, which shows that it is regaining market interest. Additionally, the share price has gone from $0.0001 to $0.0020 as a result of the increase in demand.Have a look at the following charts: 8 years chart for ATPT 1 month chart for ATPTAll State Properties All State Properties Holdings Inc. is an interesting company. Its main goal seems to be owning a subsidiary, EnergyOne Technologies, Inc., which seems to be running operations. This subsidiary is "a green energy company focused on helping to create a more efficient power grid."According to the company's website, the acquisition occurred in 2010:

"On September 20, 2010, EnergyOne Technologies, Inc. (“EnergyOne”) entered into a material definitive agreement with MB Consulting Services, LLC (“MB Consulting”) through which EnergyOne acquired all of the capital ownership of MB Consulting, which included its ownership of approximately eighty seven percent (87%) of the capital stock of All State Properties Holdings, Inc. (“All State”)" Source

Here is the information that was given by theStreet.com about the transaction and EnergyOne Technologies, Inc.

"EnergyOne Technologies, Inc. announces today that it now controls All State Properties Holdings, Inc. (OTCBB:ATPT). New management is now involved." Source

Additionally, we could also receive some information regarding the business objective of EnergyOne Technologies, Inc.:

"EnergyOne works with government entities and electric utilities to implement next generation clean technologies in industrial, commercial and residential applications. The firm integrates solar power systems with AC power storage technology designed to increase capacity and reduce infrastructure upgrade costs for electric power grids, increase efficiencies for consumers, all while reducing environmental strain." Source

What's our take?The interesting feature is that EnergyOne Technologies, Inc. is private. Thus, we know very little about its operating performance or the amount of assets owned.All State Properties Holdings Inc. seems to be filing all the necessary documents to the OTC Markets exchange, but little about the business of EnergyOne Technologies, Inc. is noted there.How are the OTC Markets and the regulators reacting?The exchange reacted by designating the stock as “Caveat Emptor”. This means that market participants "need to exercise additional care and perform thorough due diligence before making an investment decision in that security." Buyer's beware symbol from athomeshuntsville.comThe OTC Markets usually uses this symbol when it becomes aware of one of the following activities:

  • Promotion/Spam without adequate current information
  • Investigation of fraud or other criminal activities
  • Suspension/Halt
  • Undisclosed corporate actions
  • Unsolicited quotes
  • Other public interest concern

We believe that the exchange is concerned about the way All State Properties Holdings is presenting its financial information. In our opinion, the company is not showing the assets and the financial income obtained by EnergyOne, which is disturbing for the regulators.What's the solution?The company needs to contact the exchange to understand why the Caveat Emptor designation was placed. Usually, a lawyer will work with management and will certify that the company is in compliance with the current regulatory framework.Please note that the share price could increase once the negative sign is removed. Thus, being alert on this fact may be very beneficial.Why is the share price moving so much?The low float in this company may explain the share price volatility. Here are the share statistics provided by the company:Authorized Shares7,000,000,000a/o Sep 30, 2010Outstanding Shares2,964,181,540a/o Sep 10, 2015-RestrictedNot Available-UnrestrictedNot AvailableHeld at DTCNot AvailableFloatNot AvailableSourceThe float is not given, but EnergyOne owns 87% of the company. Hence, we get that only 13% is owned by the public and big market orders could be making the share price move quite a bit.Short sellers are piling upUnethical behaviour can be seen in this case. According to the OTC Markets, large amount of short positions were acquired recently:DateShort Interest% ChangeAvg. Daily Share VolumeDays to CoverSplitNew IssueSept 29, 20172,045,9020.001,077,7181.90NoNoSept 15, 20172,045,9020.00806,7872.54NoNoAug 31, 20172,045,902100.0019,557,5201.00NoNoJul 31, 201750,0000.005,388,6641.00NoNoSourceApproximately 6% of the total outstanding shares is short. This is very significant for a company with a float of 13%.ConclusionCurrently trading with a market cap of $5.9 million, ATPT is a stock to monitor, but with caution. The company needs to make a lot of communication efforts as of today. Removing the buyer beware symbol is the first part. Then, it will have to explain the business of EnergyOne, and include their assets in the financial statements.ATPT is one which we will be watching closely.We will be updating our subscribers as soon as we know more. For the latest updates on ATPT, sign up below!Image courtesy of janetfo747 via FlickrDisclosure: We have no position in ATPT and have not been compensated for this article.

Discover Hidden Gems

Don't miss the next big opportunity. Subscribe for timely alerts on potential market movers.