Peerstream Chairman Invests Another $120k + Crypto Windfall + NASDAQ Uplisting

June 6, 2018 at 10:38 am Leave a comment

It is our understanding that Peerstream (OTC: PEER) is now (as of June 5) in full compliance with all criteria necessary for an uplisting to the NASDAQ. We will not be surprised to see the announcement of such a move any day now and will be very surprised if this does not occur over the next few weeks. We believe that Groove investors would do well to buy shares in advance of such a move, as we expect the stock to become significantly more liquid and to get much more positive attention from investors when this move has been completed.

We note that Peerstream chairmain of the Board Jason Katz is buying shares, as he filed a Form 4 on May 31st to disclose that he had invested another $120k into PEER shares, taking down 20,000 over the two prior days at prices that averaged about $6 per share. We believe an open market purchase of this size by one who already has over $3 million invested and who knows more than just about anyone else about the future direction of this company speaks volumes about the latent value here.

We also note that the company’s recent deal with ProximaX is already paying off in ways that we did not expect. We knew that the deal provided $5m in cash upfront with another $5-$7m to be realized as the company provides services over the next few quarters. And we thought the additional payment of tokens in the ProximaX ICO would be a six figure event. We were mistaken. As of the first day that the coins were listed on the Kryptono exchange they were changing hands at just over .03 per token, valuing Peerstream’s 216 million tokens at just under $7 million. The deal provides for more token payments of significance going forward in addition to the $5-$7m in additional cash.  Thus, the ProximaX deal has added over $12m in value to Peerstream’s balance sheet over the last few weeks even though the share price has not moved to reflect this 25% increase in the assets of the company and there is significantly more to come over the next few quarters.

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