C-Bond Systems Inc. (OTCMKTS:CBNT) Stock Rallies After Exclusive Distribution Agreement
C-Bond Systems Inc. (OTCMKTS:CBNT) was up 9% after announcing an expansion of an exclusive distribution deal with Quip Laboratories Inc. The expansion of the agreement will include Vimoba Tablets on top of MB-10 Tablets to help fight the spread of SAR-CoV-2 in markets served by C-Bond.
Market Stats
On Thursday, CBNT stock fell 2.34% to $0.0230 with more than 293K shares, compared to its average volume of 467K shares. The stock moved within a range of $0.0230 – 0.0260 after opening trading at $0.0251.
C-Bond Systems Expands Exclusive Distribution Agreement with Quip Laboratories to Include Vimoba Tablets, Approved for Use Against SARS-CoV-2
Both Vimoba and MB-10 Tablets are on the Environmental Protection Agency’s (EPA) List N, a catalogue of drugs that the EPA has determined to be effective against coronavirus that causes COVID-19. Already a Philippines customer has placed a follow-on order for Vimoba Tablets in the amount of more than $10,000.
Vimoba Tablets are chlorine dioxide-producing, non-corrosive tablets that are identical to MB-10 Tablets in terms of efficacy, dilution rates, EPA label claims, and exposure times. Also, they contain a buffering ingredient that ensures that the Vimoba solution doesn’t corrode stainless steel, even after extended use or contact and even after the solution has dried on the surface. So investors should watch CBNT.
Key Quote
“We are pleased to expand the breadth of our distribution agreement with Quip, a company that has been a great partner to us, to offer customers a wider range of disinfectants to help in the fight against COVID-19,” said Scott R. Silverman, Chairman and CEO of C-Bond.
Traders Corner
CBNT stock is trading above the 20-Day and 50-Day Moving averages of $0.0225 and $0.0258 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0313.
