Portlogic Systems Inc. (OTCMKTS:PGSY) Running Up The Charts

Portlogic Systems Inc. (OTCMKTS:PGSY) became one of the most talked about stocks among OTC traders in the month of July. Its share price jumped from $0.02 to $0.09 in a few days. The astonishing 400% returns made the iHub Board explode, as many people in the market wanted to know what was going on with the stock. About 120 new posts were registered in a few days. Have a look at the jump on the following stock chart.SourceFor what reasons the market pushed up the share price? It seems that the experience and business profile of the new CTO, presented this week, were part of the reason for the market run. However, such an spike cannot be fully justified on that news alone. We will tell you more in this piece.BusinessPGSY has been in the business of providing telecom solution based services since 2004. Portlogic Systems runs its operations from its headquarters located in Toronto, Canada. Its primary business can be narrowed down to developing and licensing online interactive software applications. Customers can avail its services to create online interactive communities. Furthermore, the customers would be able to develop and establish communication-based internet applications.Portlogic Systems develops and licenses own products and services. It does not license any product from any service provider or manufacturer outside the company. Portlogic Systems Inc. further stated that relying on the needs and demands the company may have to meet in the future, it may eventually look for patenting or copyrighting its intellectual material. As per the strategy, Portlogic would create a demand for its products and services by going into a license agreement with the other marketers, who intend to license the goods or services for their customers. In return, Portlogic Systems Inc. would receive its remuneration as a percentage of revenues, or as a fixed payment. Apart from license agreement, Portlogic Systems would also enter into agreements over exclusive distribution of kiosk related hardware and software products.Recent DevelopmentsThe press release on February 20, 2017 contained information about Portlogic Systems Inc.’s new CEO, Mr. Michael E. de Valera, and his plans and strategies to bring overall improvement in the company. Mr. de Valera joined the company as its new CEO on August 31, 2016. He explained the current situation of the industry with the following words:

"The sector is constantly producing innovation in global connectivity. Our future success will depend on leveraging these solutions to a technologically savvy business consumer" Source

One could see that the future success of Portlogic Systems Inc. would strongly rely on transferring these solutions into its services and efficiently providing them to the consumers.In another press release on July 19, 2017, Portlogic Systems Inc. announced the appointment of its new CTO; Meeta S. Litake. As part of her new position, Ms. Meeta intends to develop the technological strategies of Portlogic. Through the press release, the CEO, Mr. de Valera, has expressed his trust in the personal and professional skills of Ms. Meeta. Mr. de Valera also said :

"We are delighted to bring on board and welcome Meeta Litake as the newest member of our team. Both personally and professionally, she fits extremely well with our mobile product development roadmap. Together, we will continue developing Portlogic's vision and growth opportunities, enabling our customers to continue to take advantage of the most innovative telecommunication solutions on the market.". Source

Ms. Meeta (B.E. - CSE and MBA) will bring 5 years of corporate experience in software development, start-ups and consulting in the mobile sector besides 13 years of academic knowledge. In our opinion, given the industry in which PGSY operates, the profile of the new CTO was very much assessed. The fact that the share price was pushed up means that the market appreciated it.Social Media - iHub Board and FacebookOn the iHub Board, we could find interesting comments about the recent big move in the stock. Some of them were mainly about the share price trends, and can be useful to check where other people are buying and selling. Have a look at some posts and note the large amount of posts almost every hour:PostSubject< Older#1008I've been Avg Up a lot LOLTeddyCaswell07/20/17 02:58:30 PM#1007$PGSY go ahead and WACK OUT . Youtripil7z07/20/17 02:57:58 PM#1006Wow the way this is Trading is veryTeddyCaswell07/20/17 02:55:38 PM#1005$PGSY multiple 100K block trades at .08tripil7z07/20/17 02:16:39 PM#1004$PGSY .082 ! should see .10 heretripil7z07/20/17 02:11:51 PM#1003$PGSY 3 blocks of 100K at HOD .078stripil7z07/20/17 01:31:25 PM#1002About to go next leg updipANDrip07/20/17 12:28:34 PM#1001$PGSY .078 HOD going . Some really nicetripil7z07/20/17 11:21:36 AM#1000$PGSY 100K block trades @ HOD .077tripil7z07/20/17 11:19:48 AM#999thnx bud. Yeah .10 for starters then aftertripil7z07/20/17 11:06:32 AM#998Trip gave you a member Mark for thisdipANDrip07/20/17 10:59:34 AM#997$PGSY the RSI is only 61 lets gettripil7z07/20/17 10:11:50 AM#996$PGSY adding .077stripil7z07/20/17 09:50:55 AMSource: iHubiHub was not the only place where market participants shared large amount of info. Facebook and stockbotwire.com also commented on the move.What is the general opinion in those boards? We found some comments about the profile of Ms. Meeta, but most internet participants did believe that something else should be going on. ConclusionPGSY has been moving in a crazy manner after the company hired a new CTO. She brings a lot of experience in developing software along with 13 years experience as an academic. We believe that this is very good news, but the move may not be fully justified by this news. In our opinion, the company should disclose whether there is something else that is affecting the share price. If the company put out good news that help explain the jump, the share price could continue creeping up. For these reasons, be alert on the stock, and subscribe to our newsletter. We provide news assessment in a rapid manner, which is exactly what is needed here.We will be updating our subscribers as soon as we know more. For the latest updates on PGSY, sign up below!Image courtesy of Phillip Wong via FlickrDisclosure: We have no position in PGSY and have not been compensated for this article.