Headsup Entertainment International Inc (OTCMKTS:HDUP) Stock Makes a Bullish Move With a Jump of 220% in a Week
Headsup Entertainment International Inc (OTCMKTS:HDUP) stock has been showing solid uptrend over the past trading session with a jump of over 220% in the past week. Will the rally continue?
Market Action
In the previous trading session, HDUP stock soared 42% to $0.0750. A total of 4.89 million shares traded for the session hands, above its average volume of 411k shares. The stock opened at $0.0689 and moved in a range of $0.0644 – 0.1106.
Key Trigger
HeadsUp Announces Steps to Closing Major Acquisition in Gaming Software Sector
HeadsUp announced that management has been working on the acquisition of a major European based Gaming Software Development Company specializing in creating platforms for the lottery, online casino, charity fundraising and sports betting sectors.
Over the past 90 days HeadsUp has secured the rights to acquire all assets, licenses and contracts of the target company whose name can not yet be released as per NDA and disclosure requirements within the Agreements.
As per disclosure requirements as a public Company, today HeadsUp announces that an LOI, a Loan and Security Agreement and a preliminary Asset Purchase Agreement have been completed with a Due Diligence condition having now been met as the Parties move to the Definitive Agreement and Closing. To date, HeadsUp has forwarded approximately USD $1,000,000 towards this transaction.
The target acquisition operates under two entities based in Europe and are licensed in multiple international jurisdictions with contracts in place to provide leading edge software platforms. There are over 50 customers that range from national government contracts in the lottery sector to private gaming operators in the online casino and sports betting industry. After independent audits and private analyst reviews, it has been confirmed that the total value of contracts as part of this transaction are in excess of USD $180 million with revenues already being generated from multiple clients and acceleration of other new product launches.
