Guess Who Picked Ionix Technology Inc. (OTCMKTS:IINX) Shares
In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Ionix Technology Inc. (OTCMKTS:IINX) reported that Liu Yubao has picked up 529,846,000 of common stock as of 2017-04-25.
The acquisition brings the aggregate amount owned by Liu Yubao to a total of 529,846,000 representing less than 88.45% stake in the company.
For those not familiar with the company, Ionix Technology, Inc., formerly Cambridge Projects Inc., through its subsidiaries Well Best International Investment Limited (Well Best), Xinyu Ionix Technology Company Limited (Xinyu Ionix) and Taizhou Ionix Technology Company Limited (Taizhou Ionix), is engaged in developing, designing, manufacturing and selling lithium batteries for electric vehicles in China. The Company’s products include 18650-2000 milli-ampere-hour (mAh) lithium ion batteries (LIB) for use in lithium cell electronic bicycles, balance cars, scooters, electric vehicles, special vehicles at low speed, energy storage, and other products. Its LIB is a rechargeable electric device within which lithium moves from a negative electrode to a positive electrode during the discharge and back charging. The four main materials used in its LIBs are cathode materials, anode materials, operators and electrolytic solution. Its LIBs are used as the power supply for devices, such as mobile phones, digital cameras and power tools.
A glance at Ionix Technology Inc. (OTCMKTS:IINX)’s key stats reveals a current market capitalization of 435.61 Million based on 99.00 Million shares outstanding and a price at last close of $4.40 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-02-17 Wong picked up 5,000,000 at a purchase price of $0.01. This brings their total holding to 5,000,000 as of the date of the filing.
On the sell side, the most recent transaction saw Wong unload 5,000,000 shares at a sale price of $0.15. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Ionix Technology Inc. (OTCMKTS:IINX) as things move forward to see if its progress aligns with these transactions.
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