JZZ Technologies Inc. (OTCMKTS:JZZI) Stock In Focus After JV Agreement with affiliate of Hospitality Development Group, Inc
JZZ Technologies Inc. (OTCMKTS:JZZI) and its subsidiary LION Development Group, have signed a non-exclusive Joint Venture agreement with AJ Developments Group, LLC an affiliate of Hospitality Development Group, Inc. a Fort Lauderdale, Florida-based real estate development company.
Trading Data
On Tuesday, JZZI stock ended flat at $0.0013 with more than 2.18 million shares, compared to volume of 5.67 million shares. The stock moved within a range of $0.0013 – 0.0014 after opening trade at $0.0014.
JZZ Technologies, Inc. and Subsidiary LION Development Group, Enter into JV Agreement with affiliate of Hospitality Development Group, Inc. of Florida to Pursue Residential and Commercial Real Estate Projects
Hospitality Development Group (HDG) is a development company with a focus on hotel, resort, and residential developments. It also provides advisory and consulting services for all various real estate development needs. The brains behind HDG’s success is developer Jerrold R. Krystoff whose experience includes hospitality, high-rise residential, commercial, and retail and healthcare, with over $2 billion dollars in various development projects.
The agreement has been formed to develop several residential and commercial real estate projects. At first, the projects will be developed in South Carolina and Florida, and later expanded to surrounding regions in the south eastern United States.
Commenting on the JV, Charles Cardona, CEO of JZZ Technologies, Inc. is delighted to join forces with Jerry Krystoff and HDG, as it is a significant step for the company’s nascent real estate development division. It boosts their capacity to a whole new level altogether, while bringing impressive credentials to the projects. The joint venture is also expected to improve revenues from small-to-large scale projects that will offer substantial profits to deliver remarkable shareholder value.
Key Quote
Commenting on the JV, Charles Cardona, CEO of JZZ Technologies, Inc., stated, “Joining with Hospitality Development Group and Jerry Krystoff is a major step forward for our Company’s young real estate development division. It immediately elevates us to a whole new level of capacity and brings impressive credentials to our projects that can only be gained from decades of successful development projects, in many cases on a massive scale.”
Traders Corner
JZZI stock is trading below the 20-Day and 50-Day Moving averages of $0.0014 and $0.0015 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0036.
