Waste Management, Inc. (NYSE:WM), currently trading at $66.54, announced that it has named James (Jim) C. Fish, Jr. as the Company’s President and Chief Executive Officer. He has also been elected to the Board of Directors. The Company is continuing its search for a CFO. In the interim, Fish will continue to lead the finance organization.
Pertaining to the waste management sector, a small cap company that caught our attention is JPX Global Inc (OTCMKTS:JPEX). JPEX is an emerging player in the industrial waste management market, which will grow from an estimated $863.8 billion in 2014 to $1,442.0 billion by 2019 with a CAGR of 8.9% from 2014 to 2019. The reason why the bulls could be all over JPEX is because JPEX just contracted to bring its equipment online for operations and get the top line rolling in a recovering Mexican marketplace. Technically, JPEX is coming off an RSI trough under 40, pointing to a massively oversold stock now heading back the other way. JPEX just recorded a major MACD Bullish reversal, suggesting a technical change in trend. Technically, the stock is carving out support in the $0.05-0.07 area. Volume has been increasing, and technical indicators point to an opportunity.
JPX Global, Inc. (OTCMKTS:JPEX) is a company that intends to provide waste management services primarily in Mexico. The company’s services include the storage, recycling, and disposal of industrial, toxic, and hazardous wastes. Its target customers comprise commercial, industrial, municipal, and residential customers, as well as other waste management companies, electric utilities, and governmental entity properties. JPX Global, Inc. was founded in 2008 and is based in Brighton, Michigan.
Hence, in short, JPX Global Inc. is an early-stage provider of integrated waste services.
“Through our developing operations in Mexico, we aim to provide a comprehensive range of waste management services including the receipt, storage, transfer, recycling and disposal of waste in an environmentally sound manner. JPX Global’s environmentally friendly services are anticipated to be executed through the gasification and recycling of waste. Our focus for customers in Mexico include commercial, industrial, municipal and residential customers, other waste management companies, electric utilities and governmental entities.”
The company has just taken a huge step and acquired the patented equipment and technology for waste gasification at the Company’s facilities in Rosarito, Mexico for the benefit of both the Company and its Mexican operating partner, Tratamientos Ambientales Scorpion S.A. de C.V. The Company and TAS are developing a hazardous waste storage, disposal, and recycling site in Rosarito, Mexico.
As the company states in a recent 8k: “The Company retains 80% of the net revenues from the project and must pay 20% of the future net revenues to TAS. Pursuant to the terms of the Agreement, Mr. Caywood contracted to purchase the Equipment for an aggregate of $29,000,000. We are also working on securing the funding.”
In addition, the company just secured DTC eligibility for share sales. Jim Foran Chief Executive Officer of JPX Global stated, “DTC eligibility increases the efficiency and lowers the costs associated with buying and selling of our shares on the OTC Market. We are pleased to be able to be DTC eligible for the benefit of our current and future shareholders. Securing DTC eligibility reflects our ongoing efforts to support our growing investor base, and our belief in the growth of our business. We would like to thank Vstock Transfer for assisting and submitting DTC eligibility application.”
Could JPEX be the next Waste Management Inc (NYSE:WM) ? Only time will tell but looking at the recent news fro JPEX we could very well see some renewed interest from traders and investors. As always, conduct your own due diligence when trading with penny stocks like JPEX.