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BPS initiates coverage on Puissant Industries Inc (OTCBB:PSSS)

BPS initiates coverage on Puissant Industries Inc (OTCBB:PSSS)
Written by
Aaron Smith
Published on
October 29, 2014
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On 27th October’14, BrilliantPennyStocks.com initiated coverage on PSSS. The stock moved up by 41.16% since the coverage was initiated.

Penny Stock Puissant Industries Inc (OTCBB:PSSS) was up by nearly 89% during trading on 28th October. The investors in the stock have in the recent past have had big reasons to stay invested in the stock.

Stock Issued As Dividend

One of the key reasons was the decision by the Board of Directors of Penny Stock Puissant Industries Inc (OTCBB:PSSS) and its share holders to approve a “20% Common Stock Share Dividend” at the end of August this year. The proposal had received an overwhelming 75.76 percent shareholder approval when it was put to out.

Payout Happened As Of 4th Sep

As part of the dividend payout, each share holder will be eligible to receive 2 additional shares of Penny Stock Puissant Industries Inc (OTCBB:PSSS) for every 10 shares they hold in the company. All shareholders and share holding patterns as of 4th September would he eligible for this exercise. The stock had become ex-dividend on 2nd September.

Working On Monetizing Its Appalachian Basin Devonian Shale Holdings

The London, KY based Penny Stock Puissant Industries Inc (OTCBB:PSSS) is an oil and gas exploration firm involved in the extraction of oil from its reserves in Eastern Kentucky. It has been engaged in the business of developing its Appalachian Basin Devonian Shale by executing a multi-year drilling program. It has also concentrated on increasing its acreages by acquiring new properties.

Executive Officers Issued Stock As Performance Bonus

The oil and gas firm had also recently disclosed that its Board of Directors has decided to issue 0.4 million shares of common stock each to its Chief Executive Officer Mark Holbrook, Chief Financial Officer/Secretary/Treasurer Cora Holbrook and Vice President Marshall Holbrook. The shares have been issued to the executive team in lieu of their performance and loyalty to company during 2013 and 2014, the board of directors noted.

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