Apr. 23 at 9:35 AM
$PMAX ☞ It is interesting how PMAX changed ownership quietly: The Chinese owned Bliss on Limited was the main shareholder and they controlled the management.
PMAX paid
$9.4 million to acquire all their shares, a 66% stake.
PMAX is actually debt-free, with enough cash to add Boston Solar to its portfolio (LOI signed, mid-May will close the final deal).
Now the new management team of PMAX is U.S.
♛So, PMAX from a Chinese/HK company became a U.S. one, with U.S. management, debt-free and with a profitable solar business.
These developments were funded with a
$14 million private placement, at higher level than the current share price.
Unfortunately we don't know who these new investors are, yet.
They will have to report their stakes in the next quarter, though.
Mark that the new PMAX CEO Geordan Pursglove took the leadership of LIXT too, in June 2025. From then, the LIXT shares have moved from
$1.10 to
$5+ and now trades around
$3.80. ☆
