Power Play Development Corporation was in the news today on the announcement that they have enlisted the help of Xnergy Financial Corporation in order to meet their investment banking needs. This move should help Power Play Development meet all of the reporting requirements under the Exchange Act of 1934, which would allow the company to have its stock traded on the OTC Bulletin Board.
Meeting all SEC requirements to be traded on the OTC Bulletin Board would bring the potential for a huge infusion of capital to the company from potential investors. The CEO of Power Play, Michael Clebnik, said, “The move from the Pink Sheets to the Over-The-Counter Bulletin Board can be a difficult undertaking, but we’re very serious about meeting this objective to create additional value for our shareholders.” CFO Roy Evans added, “Xnergy will assist us with capital formation and in reviewing various investment alternatives.”
Power Play Development Corporation has a proven track of financial success. In 2006 they boasted fiscal year revenues of $233,000 and for the same period in 2007 the company finished with over $1,000,000 in revenues. The 400% increase was attributed to opening new revenue streams, drawing in new advertisers and the ability to successfully run their website, www.NLOP.com. The company is also forecasting strong and steady revenue growth in 2008.
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