SPO Global Inc (OTCMKTS:SPOM) Shares Sink 11%

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SPO Global Inc (OTCMKTS:SPOM) shares were down 11.11% on Tuesday to $0.00160 and flat in after-hours trading. The company has a market cap of $339,360.00 at 188.53 million shares outstanding. Share prices have been trading in a 52-week range of $0.00 to $0.02.

SPO Global Inc is a company that is engaged in the design, development and marketing of non-invasive pulse oximetry technologies to measure blood oxygen saturation and heart rate. It has developed a technology that enables the measurement of heart rate and oxygen saturation levels in the blood, which is known as Reflectance Pulse Oximetry or RPO.

With this RPO process, a sensor can be positioned on various body parts, hence minimizing problems from motion artifacts and poor perfusion. With that, the design features contribute to lower power requirements and enhance wireless, stand-alone configurations facilitating expanded commercial possibilities, allowing the product to be applied to products that are designed for use by in the homecare, general wellness, sports, safety and search and rescue markets. SPO Global Inc is  primarily engaged in developing, manufacturing and licensing its technology to third-parties for integration with products in the general wellness, recreational, baby monitoring and sports monitoring fields.

In yesterday’s shareholder update, SPO Global Inc shared that it had received an unsolicited expression of interest to purchase the company. A UK-based firm called Cloudload.io stated in writing that it is looking at acquiring a business with IP in the area of performance testing and monitoring.

SPO Global Inc has been in discussions with Cloudload.io and informed them that they are seeking a cash offer of more than $0.005 per share for its authorized common shares. However, the company also noted that this expression of interest also hinges on Cloudload’s ability to obtain financing, contingent on legal and technical due diligence as well.

The company also shared that this due diligence process is already ongoing and might take anywhere between 30 to 45 days. SPO Global Inc is also in the middle of reviewing its current and future financial arrangements in light of these developments.

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