Paivis Skyrockets on Late Afternoon News
Stocks for Paivis Corp. (OTCBB: PAVC) suddenly shot up 161 percent this afternoon, spurred on by the company's news that it may be acquiring Detroit Phone Cards Inc., a private eastern-based United States corporation. According to Paivis' most recent statement, Paivis has entered into a Letter of Intent with Detroit Phone Cards to acquire 100 percent of the private company's outstanding stock in exchange for stock and cash. The statement explains that Detroit Phone Card generates approximately $24 million in sales revenue from prepaid long distance cards every year. This, coupled with the $6 million that Detroit Phone Cards pulls…