Kallo Inc (OTCMKTS:KALO) is sitting just over $0.05 support levels. The stock has a history of big moves off the $0.05 with several significant pops over the past year.
All the excitement on KALO is about the previously announced $200 million dollar supply contract in the Republic of Guinea..
The contract was initially announced in January of this year and the stock ran from under a nickel to highs of $0.45 per share. Since that time the stock drifted downward hitting a recent low of $0.025. The recent update has brought back excitement to KALO and investors are hoping it can mark a significant reversal.
Kallo Inc (OTCMKTS:KALO) offers a comprehensive healthcare delivery program dedicated to providing the most technologically advanced, innovative healthcare solution that is customized to the requirements of each country, including effective infectious disease management and customized Education and Training programs.
According to the Company’s website they have a Portfolio of Technologies that include:
!ntegraat enables any medical device to connect to any EMR, PACS, HIS, RIS, PIS or DI-r, providing a seamless flow of information and data that ensures clinicians have all the needed information to provide patients timely and effective healthcare.
Kallo MobileCare™ is a comprehensive solution for remote and unreached communities. These mobile clinics are fully equipped with best-in-class medical devices and congruent information systems enabling the centralized coordination of resources and communications through Administration Centres.
Kallo Rural-Care MRHDS are pre-fabricated, pre-tested, modular and project determined medical clinics. They are installed with the latest medical equipment from X-Ray and ultrasound to surgery, lab and pharmacy equipment.
CygnaMed™ Globalization, inexpensive travel, high treatment costs, long wait times and lack of access to medical facilities have fuelled Medical Tourism to an approx. $25 billion industry.
oHealth provides the infrastructure, technology, training and support to seamlessly integrate with any clinic, laboratory, specialty, hospital, repository or regional and national Health Information Access Layer (HIAL).
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On January 23, 2014, Kallo Inc. announced the signing of a US$200,000,925 Supply Contract with the Ministry of Health and Public Hygiene of the Republic Of Guinea (the “Guinea Project”).
Under the Supply Contract, Kallo will implement customized healthcare delivery solutions for the Republic of Guinea. The components of the solutions include, MobileCare, RuralCare, Hospital Information Systems, Telehealth Systems, Pharmacy Information, disaster management, air and surface patient transportation systems and clinical training.
In respect of the Guinea Project, the Company has agreed with two third parties in Guinea to pay sales commissions for facilitating and securing the Contract with the Ministry of Health of the Republic of Guinea as follows:
$20,000,000, payable as to an advance of $300,000 immediately after the loan agreement for the Kallo MobileCare and RuralCare program is signed by the Minister of Finance of the Republic of Guinea and the remainder within 7 to 14 business days of receipt of payment for the Project by Kallo in proportion to the payments received by Kallo.
$4,000,000, payable within 7 to 14 business days of receipt of payment for the Project by Kallo in proportion to the payments received by Kallo. In addition, a performance incentive payment of $1,000,000 will be payable to three persons related to the third party in accordance to the same terms of payment described herein.
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Currently trading at a $26 million market valuation KALO has minimal assets or revenues and growing short term debt. The stock does have a history of pops after the Company re-announced the $200 million dollar supply contract in the Republic of Guinea on November 3; big news for a Company with minimal cash on hand, mounting short term debt and no revenues to date. Besides this the Company burns up to half a million a quarter which has resulted in significant dilution over the years; over the past 3 years KALO O/S has increased from 43 million shares out to current 352 million shares issued and outstanding. We will be updating on KALO when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with KALO.
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Disclosure: we hold no position in KALO either long or short and we have not been compensated for this