DoMark International, Inc. (OTCBB:DOMK) Penny Stock on the Rise
Shares in DoMark International (OTCBB:DOMK) are up 29% today following heavy trading activity. Solawerks, Inc. is a newly formed subsidiary, wholly owned by Domark International, Inc. Solawerks’ current focus is to develop and distribute the Solapad: a combined cover and charging system for Apple’s iPad, the Solafire: a combined cover and charging system for Amazon’s Kindle Fire and the Solacase: a combined cover and charging system for all versions of Apple’s iPhone.
Recent News Announcements
The Company announced today today that consumers should get ready to unplug their Apple iPads forever in less than a month. Domark’s wholly-owned Solawerks subsidiary now expects the highly-anticipated “Solapad” ever-charging solar and battery system for all versions of the Apple (NASDAQ: AAPL) iPad to be in the hands of US consumers in less than 30 days. Solawerks has also previously announced two other ever-charging products, the “Solafire” for the Amazon (NASDAQ: AMZN) Kindle Fire and the “Solacase” for all versions of the Apple iPhone. Similar to the Solapad, both the Solafire and Solacase contain a large, high-efficiency solar panel on their back, plus an additional internal battery to keep the associated unit charged at all times.
The Solacase fits all iPhone versions, including the new iPhone 4 and iPhone 4S.
Financial Statement Highlights
On March 5, 2012 Company entered into an Asset Purchase Agreement (the “Agreement”) with its then controlling shareholder, R. Thomas Kidd (“Kidd”), for the sale of Armada, and certain assets related thereto. Pursuant to the terms of the Agreement, all assets and liabilities directly related to Armada (as more fully described in Exhibit 10.1 of the Company’s Current Report on Form 8-k filed on March 9, 2012) were transferred to a new company (“NewCo”) formed by Kidd. In consideration for the sale of Armada, Kidd returned to the Company 50,000 shares of the Company’s Series A Preferred Stock and 9,771,500 shares of the Company’s Common Stock. In addition, NewCo assumed all liabilities due to Kidd by the Company, estimated to be $1,084,000.
As of March 5, 2012 the Company is solely focused on the operations of its SolaWerks, Inc. subsidiary. As a result of the change in the Company’s business model, the disclosures and financial results contained herein should be reviewed as they relate to the Company’s historical operations but should be discounted as they relate to the Company’s potential future results.
Source: 10Q 2-29-2012
Stock Chart and Trading Highlights
30 Day Percent Change: -20.00
30 Day Moving Average: 1.28
30 Day Average Volume: 402,813