Cycclone Magnetic Engines Inc (OTCMKTS:CDBT) Stock In Focus After Acquisition News

Cycclone Magnetic Engines Inc (OTCMKTS:CDBT) is in the news this morning after a significant development. The company is best known for being the founding company of the magnetic engine project. Today, it emerged that China Dasheng Biotechnology Co went into an agreement to acquire the company.

Trading Data

On Friday, CDBT stock ended flat at $0.0328 with more than 100 shares, compared to its average volume of 5.43K shares. The stock moved within a range of $0.0328 – 0.0328 after opening trade at $0.0328.

CDBT enters agreement to acquire Cycclone Magnetic Engines, Inc., the founding company of the magnetic engine project.

The Australia based company signed a share exchange agreement with Cycclone Magnetic Engines to buy all its outstanding shares. In this context, it may be a good idea to take a closer look at the product that the company managed to come up with.

The company managed to come up with a base engine model which had been manufactured in the style of a turbine engine. The engine had also been featured in as many as four prospectuses in New Zealand and Australia.

On the other hand, the Cycclone Magnetic Engine Developments Limited and its subsidiaries are already under the control of China Dasheng Biotechnology and now it is going to get hold of the main company following the transaction. In light of this development, it is going to be interesting to see if the Cycclone Magnetic Engines sees any action over the course of the coming days or not.