In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Spindle Inc. (OTCMKTS:SPDL) reported that Kelly Michael has picked up 13,366,151 of common stock as of 2017-08-02.
The acquisition brings the aggregate amount owned by Kelly Michael to a total of 13,366,151 representing a 17.60% in the company.
For those not familiar with the company, Spindle Inc. (SPDL) provides commerce solutions for payment processing services, point-of-sale systems, and customer marketing to small and medium sized businesses. The Company enables businesses to sell their goods and services, accept payment, and create repeat sales though payment processing and marketing and loyalty programs. It operates as a payment facilitator (PF), which offers instant boarding to its merchants, and the Company has added traditional merchant services to its offering. The Company’s Yowza!! branded point-of-sale (POS) platform supplies business with a full commerce solution, which provides critical business functions, online ordering, inventory management and menu management, online ordering, mobile payment acceptance and Eurocard-MasterCard-Visa (EMV) compliance. It operates a self-service PF platform. As a PF, it provides services to merchants under a process defined by the card associations as Aggregation or Master Merchant.
A glance at Spindle Inc. (OTCMKTS:SPDL)’s key stats reveals a current market capitalization of 13.67M based on 75.93M shares outstanding and a price at last close of $0.180 per share.
Looking at insider activity, there are a few recent transactions worth noting.
Specifically, on 2015-12-29, Vanbrackle picked up 2,037,038 at a purchase price of $0.14 per share.This brings their total holding to 4,280,371 as of the date of the filing.
On the sell side, the most recent transaction saw Ide unload 56,701 shares at a sale price of $0.00. 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 Spindle Inc. (OTCMKTS:SPDL) as things move forward to see if its progress aligns with these transactions. Subscribe below and we’ll keep you on top of what’s happening before it moves markets.