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All State Properties Holdings Inc (OTCMKTS:ATPT) Is A Penny Stock Runner

All State Properties Holdings Inc (OTCMKTS:ATPT) Is A Penny Stock Runner
Written by
Jarrod Wesson
Published on
November 14, 2017
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Our readers will be remember very well All State Properties Holdings Inc (OTCMKTS:ATPT), which we featured in "All State Properties Holdings Inc. (OTCMKTS:ATPT) Gets A Close Look."We said that the share price was moving quite a bit, because the company seemed to be low float runner. It was without any doubt a stock whose price action should be followed.Furthermore, we said that the stock should be monitored, but with caution. There were still a lot of communication efforts to be made by the management. Removing the buyer beware symbol was the first part.Additionally, the business of EnergyOne and its assets should be reported on the balance sheet of ATPT.As of today, we are glad that we brought this business profile to our readers. The stock provided great returns in a very short period of time.From $0.0022, the share price went up to $0.0052. Additionally, the market interest seemed to increase, as the trading volume increased quite a bit. More than 200 million shares changed hands some days.Have a look at it: 1 year chart for ATPTRecent DevelopmentsThe market did not receive new press releases after our article was published by the editorial team of InsiderFinancial. Additionally, the buyer beware symbol can still be seen in the OTC Markets as of November 10, 2017.Thus, why are the share price and the volume spiking?We believe, like other bloggers in the iHub blog, that good things are happening behind the scenes.Nothing was published in the OTC Markets, but many facts indicate that the President, Principal Executive Officer, JOSEPH PASSALAQUA, is preparing the company to enter the marijuana industry. A due diligence report was published here indicating many facts that may prove this thesis.The first interesting fact is that he appears to have created the website budlife.net, a marijuana packaging business. Image from https://www.budlife.netHis name appears in the WHOIS information of this page, which readers can find in this link.His website seems to be operated by another company called Plantation Corp., a Wyoming Company:

"It is a technology-driven organization with the goal to establish a unique paradigm in preservation efficiency and longevity that sets a new gold standard for the intelligent packaging industry. While still a privately-held corporation, Plantation is currently accepting investments only from accredited investors. Additional information can be seen at the new website at www.BudLife.net" Source

But, there are more facts.He seemed to be in charge of merging Plantation Corp. with other two companies. Have a look at the following documents and note the signature of Mr. PASSALAQUA. Plantantion Corp. - Company Materials Merger of the companiesSourceNow comes the best part.Plantation Corp., and BudLife.net have been associated with another public company, Sugarmade Inc (OTCMKTS:SGMD). This company has expertise in developing brands and seems to be helping private company, Plantation Corp., develop its marijuana industry. The following is the text from a press release that the market received on September 20, 2017:

"Sugarmade, Inc. and Plantation Corp., today announce important breakthroughs in long-term cannabis storage. Laboratory research has produced an optimum proprietary packaging atmosphere that will allow long-term storage of cannabis in the new BudLife containers. The management teams of both companies consider this research breakthrough to be highly significant to the emerging cannabis industry." Source

What's our take?Till the company releases new information on the OTC Markets, we cannot say anything regarding this information. We needed to highlight it, as it seems that some market participants are acting on all these facts.In our opinion, the President is leading ATPT and, at the same time, creating a marijuana business makes us believe one thing: the next step is a merger between the two. The fact that he has executed other mergers in the past will help him in this task as well.Additionally, we believe that the best way to grow the marijuana business is through a public company. He will be able to get cheap financing, gain prestige, and awareness. It seems to be smart move.However, we need to repeat that nothing seems to be true until it is confirmed on OTC Markets. Readers can expect a share price spike if a merger is announced.ConclusionCurrently trading with a market cap of $15 million, ATPT seems is an interesting stock to follow. The company has a lot to do in terms of communication with market participants. First of all, as we said in other articles, the buyer beware symbol needs to be removed from the OTC Markets website to gain the market's confidence.Furthermore, the company needs to communicate whether the information from iHub is true. If the President is creating a marijuana business, the company needs to highlight it in the next annual report.Finally, given the recent share price volatility, it will be good when the company explains what's going on. The exchange and market participants will appreciate it.Be sure to check out our coverage on ATPT!We will be updating our subscribers as soon as we know more. For the latest updates on ATPT, sign up below!Image courtesy of Chris Hunkeler via FlickrDisclosure: We have no position in ATPT and have not been compensated for this article.

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