Sibannac Inc (OTCMKTS:SNNC) Stock Surges After Annual Report
Nevada Corporation Sibannac Inc (OTCMKTS:SNNC) on October 6, 2022, announced that the firm had filed and finished the annual report for the Fiscal Year 2022 on September 12. The firm said it was a result of extensive preparations and finishing an audit of the books to become a fully reporting company.
Market Stats
On Thursday, SNNC stock moved up 12.50% to $0.0450 with more than 43K shares, compared to its average volume of 144K shares. The stock moved within a range of $0.0450 – 0.0450 after opening trading at $0.0450.
Sibannac, Inc. Files Annual Report – Early Begins Preparations to Become Fully Audited
Sibannac said that it will streamline the process for registering warrants pertaining to the acquisition of the brand IP from Noho Inc, being finalized now. Noho has finished the acquisition of Smog Armor Inc. and is waiting for the processing of the required filings.
The Smog team will be appointing a fresh slate of directors for NOHO and the firm would be under new management. It is expected that NOHO, Inc. will be instituting a name as well as a ticker change consistent with Smog Armor branding.
In addition to the acquisition of NOHO After Shot, Sibannac would be moving ahead with extra formulations for the NOHO brand to add consumer goods in the wellness space. Currently, the After Shot is for sale direct-to-consumer, which would continue operating seamlessly. The line extensions would be coming to market in quarter one of 2023.
Sibannac’s premium wellness brand – Cherryology has finished product design and is being formulated by renowned product guru, Gary Kehoe.
Traders Corner SNNC stock is trading above the 20-Day and 50-Day Moving averages of $0.0331 and $0.0326 respectively. However, the stock is trading below the 200-Day moving average of $0.0525.
