Superbox Inc. (OTC:SBOX) Stock In Focus After Asset Purchase Agreement
Considering the fact that the stock went up by 80% last Friday, it is quite likely that Superbox Inc. (OTC:SBOX) is going to be in sharp focus among investors this morning. In such a situation, it may be a good move to take a look into a development that took place earlier this year.
Key Agreement
On July 30, 2024, the company announced that it had entered into a binding asset purchase agreement with the London, United Kingdom-based C3K Innovation Ltd. As per the terms of the agreement, the company would acquire the Water for Diesel Fuel Emulsion industry-related patents and assets.
Additionally, there would also be a change in the company’s executives and directors. Through the management transition, Superbox would be able to make its corporate structure more robust and make its position in the fuel emulsion market even stronger.
Further Information
The company announced that it acquired the entire catalog of patents for the patented technology named “Apparatus for Stable NanoEmulsions of Water in Diesel Fuel.” The acquisition also represented a major move into the Transition and Green Energy sectors from the company. The company also acquired a white diesel production plant through the agreement with C3K Innovation.
Statement from the Chairman:
“I am thrilled to announce our recent asset purchase, which marks a significant milestone in our growth strategy. This acquisition not only expands our market presence but also brings on board a talented team from ǪK Innovation Ltd., who will add invaluable expertise and innovation to our company culture.
