DALLAS, TEXAS : StockGuru announces that Lexon Technologies Inc. (OTCBB: LEXO) is in the StockGuru Spotlight. Lexon Technologies, Inc. does not have significant operations. It seeks other business opportunities and/or potential merger candidates. Previously, the company was engaged in development and manufacture of low temperature cofired ceramic (LTCC) components, including LTCC wafer probe cards, LTCC circuit boards, LTCC light emitting diode displays, and related products for the semiconductor testing and measurement, custom printed circuit board, and cellular phone industries. Lexon Technologies is based in Irvine, California.
On Wednesday, the company put out news announcing that they have completed a reverse merger with Paragon Toner Inc., (www.ptoner.com), a Southern California based manufacturer of recycled toner cartridges. The effective date of the merger is October 22, 2009. Under the terms of the Merger Agreement, Lexon Technologies has issued 347,448,444 shares to the shareholders of Paragon in return of 100% ownership of Paragon. The company will retain the name of Lexon Technologies, Inc. and the symbol LEXO.OB. Since its inception in 1993, Paragon has seen consistent growth and profitability. For the year 2008, Paragon recycled and sold over 200,000 toner cartridges. Currently, the recycled toner market has grown into a 12 billion dollar business and Paragon has seen an unprecedented increase of both sales and profits during the last three years. Paragon supplies primarily large retailers and distributors of the product as well as operating an online retail division.
Shares for Lexon Technologies Inc. (OTCBB: LEXO) were up during the afternoon of trading on Wednesday and closed up sixteen cents at closing.
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