REpipeline is scheduled to launch a website this fall that it says will streamline the commercial real estate management processes. The company is currently merging with Photonics Corp., a Sunnyvale-based public company that does business as DTC Data Technology and was recently bumped off the Nasdaq for non-reporting. It now trades on what is known as the over-the-counter bulletin board.
In an August report to the Securities and Exchange Commission, Photonics says it terminated a merger/acquisition agreement with Realestate4sale.com and signed a similar agreement with its successor REpipeline.com. "Without the merger with (REpipeline.com), the only choice of the company is filing bankruptcy with less than $0.01 per dollar for all creditors, and debt holders, and no money for shareholders," states the firm. "Therefore the company has put all its energy for the pending merger/ acquisition."
At close of markets Tuesday, shares of Photonics stood at 28 cents a share, up 2.5 cents on the day. In the last 52 weeks, the company's shares have traded for as little as 3 cents each, and as much as 40 cents each.
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