Seven Arts Entertainment, Inc. (NASDAQ: SAPX) is by and large an unheard-of company to most investors which do not dabble in the world of micro-cap stocks. It is a penny stock involved in media, it has a micro-cap status (of under $10 million), and it whips around wildly on news. Shares of Seven Arts are higher by over 5% to $0.49 today on news that it has executed a definitive agreement with David Michery to acquire his music assets, and these assets include recording agreements with several artists including two completed albums with multi-platinum artist DMX.
The company noted that “Undisputed,” the first of these two completed DMX albums noted above, will now be released during the second quarter of 2012 through a division of Universal Music.
To show how volatile the shares of Seven Arts Entertainment have been, the 52-week range is $0.06 to $5.75 and Yahoo! Finance lists that the implied market capitalization rate is a mere $7.7 million based on today’s juiced up share price.
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