TPT Global Tech (TPTW) has been one of the most exciting penny stocks this year rising from triple-zeroes to over $.09 a share. The excitement started back in June when TPTW pivoted to becoming a COVID-19 play after acquiring Aire Fitness and its mobile micro-lab that is an innovative method for both testing and future vaccinating for the current Covid 19 pandemic.
As you can see from the chart below, TPTW was the biggest runner on the OTC Markets over the summer. Shares have now sold off 50% from the highs, but we see TPTW gearing up to make a run to new highs. In this article, Insider Financial takes a look at TPTW and why this bull run is just getting started.
TPT Global Tech (TPTW)
First up, here’s a little background info for anyone not familiar with TPTW. TPT Global Tech Inc. is a technology company based in San Diego, California with divisions providing telecommunications, medical technology, and product distribution, media content for domestic and international syndication as well as technology solutions. Its subsidiaries include SpeedConnect, TPT Med Tech, Blue Collar Productions, ViewMe Live, BridgeInternet, and TPT Mobil.
TPT Med Tech
The subsidiary capturing the market’s attention right now is TPT Med Tech. TPT Med Tech provides advanced mobile testing labs, sanitizing cabins, and high-quality PPE products.
QuikLAB™ is a CLIA Certified Lab designed and manufactured to provide on-site COVID-19 testing services to hospitals, businesses, and communities where rapid incremental infrastructure is needed, including during emergencies like pandemics and other natural disasters.
SANIQuik™ offers Sanitizing Units that are placed at all entry points to provide a clear safety barrier before access. It is recommended for hospitals, long-term care facilities, manufacturing, hospitality, sporting venues, airports, business, and government buildings.
TPTW has developed an approach which utilizes “Quiklab”, a two-phase solution coupled to a PPE product distribution model. The PPE distribution model is focused on the Federal space (VA/DoD/FEMA/CDC/NG) as well as the top 20 National Hospital Group Purchasing Organizations (GPO).
TPT MedTech “Quiklab” developed a sequenced cohesive solution designed to address the risk of contracting COVID-19 inadvertently through touch or aerosolized. TPT MedTech “Quiklab” created this safety barrier with a two-phase independent Mobile Lab System.
QUIKLAB CLEANSER Lab initially scans for fever, you enter the lab and stand for 15 seconds while a fog (FDA APPROVED) eliminates 99.9% of topical viruses and bacteria. Upon completion, the individual enters the QUIKLAB TESTING Lab for a mucosal swab. (13-15 min). This eliminates any individual who is COVID-19 active or appears symptom-free. The QUIKLAB CLEANSER has significant applications well beyond just medical.
Back in June, TPTW entered into an agreement with Rennova Health (RNVA) to merge Rennova Health’s software and genetic testing interpretation divisions, Health Technology Solutions, Inc. (“HTS”) and Advanced Molecular Services Group, Inc., (“AMSG”) into a public company (target) after TPTW completes a merger of its wholly-owned subsidiary, InnovaQor, Inc. with this target.
InnovaQor will own certain assets and technology from TPTW’s proprietary live streaming communication technology and the technology and software developed and owned by HTS and AMSG. The combination of these fully developed assets will facilitate the creation of a next-generation telehealth type platform. This platform will combine telehealth with EHR like capabilities and facilitate a patient’s immediate access to healthcare including their local hospital or doctors, for initial consultation, scheduling of appointments, and follow on care.
Subject to the relevant SEC approvals it is intended that TPTW shareholders will receive approximately 5M common shares in InnovaQor. TPTW’s intent is to distribute 2.5M of these common shares to its shareholders at a date to be determined in the future.
Rennova Health will receive 1M Class A Supermajority Voting Preferred Shares, as well as 2.2M of Series B non-voting shares, except in certain circumstances, with certain designation rights, lock-up agreements, and other specifications as outlined in the agreement in return for the equity in HTS and AMSG.
All debts and liabilities of HTS and AMSG owed to Rennova Health of approximately $22M will be eliminated as part of the equity issuance in InnovaQor. TPTW will end up with a minority interest in InnovaQor. Rennova Health will be responsible to appoint management to the project. It is intended that 1M common shares will vest to management.
InnovaQor Reverse Merger
InnovaQor, Inc. is the result of a merger agreement between Southern Plains Oil Corp and InnovaQor which has a Software Licensing Agreement with TPTW enabling it to utilize features from TPTW’s TV and Social Media platform “Viewme Live”. Southern Plains Oil Corp has now completed its name change to InnovaQor and completed a reverse split of its common stock as defined in the merger agreement. The process has been initiated to change the trading symbol to INOQ, which is expected to be effective sometime this month.
TPTW has a Covid-19 Parking Lot Testing License Operating Agreement with Wal-Mart Real Estate. This License Agreement with Wal-Mart allows TPT to start offering Drive-Thru Covid-19 testing for up to five Wal-Mart locations in Florida and up to five Wal-Mart locations in California.
TPT MedTech will launch its QuikLAB operations around Miami Dade County, Florida, and San Diego, California. The TPT QuikLAB will offer PCR and Antibody rapid tests to its customers. Customers will also be able to download the newly developed QuikLAB App.
The QuikLAB App allows customers to schedule testing appointments to help alleviate long lines. It also allows customers to choose which QuikLab location best fits their availability and receive their rapid test results when completed. The QuikLAB App also has a “Hall Pass” Certificate feature that will allow employers, sports venues, nightclubs, restaurants, and schools to monitor individuals and give businesses and communities a sense of freedom and safety to allow entrance to said venues.
TPTW Sales About To Explode
TPTW just completed the QuikLAb™ and SaniQUIK™ product training of the Thomas Scientific SalesForce, the nation’s third-largest and fastest-growing scientific distributor. As of this month, TPT Med Tech’s products are officially launched with Thomas Scientific and information is available on their website.
What’s exciting is that Thomas Scientific is a registered contractor for the U.S. Federal Government. TPTW CEO Stephen Thomas said:
“Thomas Scientific’s team of 135 Sales Representatives have decades of experience and relationships in the Health Care Sector which is critical in the growth of TPT MedTech. The training is another milestone met. We are truly excited to have our products officially launched with Thomas Scientific. We look forward to a very long and profitable relationship with them.”
Clinical Lab Acquisition
Last month, TPTW acquired Epic Reference Labs, a high complexity clinical laboratory located in West Palm Beach, Florida from Rennova Health. The agreement includes EPIC’s current CLIA certificate of registration that enables TPT MedTech’s Mobile QuikLABs to operate in 46 US States delivering rapid Covid-19 Point-of-Care testing and monitoring.
Epic Reference Labs is a state of the art modern clinical laboratory with over 7000 sq. ft. space and is licensed as a comprehensive clinical laboratory providing molecular testing in the heart of West Palm Beach, Florida. The laboratory in addition to basic clinical services will be the core lab for the new Mobile “QuikLAB” initiative that delivers clinical laboratory testing directly to patient locations.
The state of the art facility supports the infrastructure for comprehensive follow-up molecular testing plus on site rapid testing for a wide variety of medical conditions. These range from testing nucleic acids, antigens, and host antibodies for detecting viral infections to tests for diagnosis and treatment of cardio-metabolic and neuropsychiatric diseases.
TPTW has everything in place to be successful when it comes to COVID-19 testing – a deal with the nation’s largest retailer Wal-Mart, a testing lab that can operate in 46 states, a 135-member sales team in Thomas Scientific that is a licensed federal contractor, and revolutionary technology with the QuikLAB. We are excited to see this quarter’s sales numbers as we expect the numbers to extraordinary. When those numbers get reported, look for the MMs and shorts to finally get burned with all the games they have been playing in TPTW stock. They are in store for a very rude awakening.
As always, good luck to all (except the shorts)!
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Disclosure: We have no position in OTCMKTS:TPTW or any of the securities mentioned. We wrote this article ourselves and it expresses our own opinions. We are not receiving compensation for it. We have no business relationship with any company whose stock is mentioned in this article. Insider Financial is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This article is not a solicitation or recommendation to buy, sell, or hold securities. This article is meant for informational and educational purposes only and does not provide investment advice.