Taylor Consulting Inc (OTCMKTS:TAYO) Stock In Focus After Recent News

Emerging mineral interest aggregating company Taylor Consulting Inc (OTCMKTS:TAYO) is mainly involved with the energy midstream sector. Yesterday, the company announced that it had completed a transaction with Lead Enterprises Inc and it could be a good idea to take a closer look into it.

Trading Data

On Tuesday, TAYO stock moved up 0.12% to $0.0830 with more than 14.30K shares, compared to its average volume of 18.84K shares. The stock moved within a range of $0.0611 – 0.0830 after opening trade at $0.0690.

TAYO Converts almost $1MM of Debt from its Balance Sheet to Common Stock

As per the provisions of the transaction, Lead would fully discharge a pair of promissory notes with the total value of $995174 in the form of debt in exchange for 7085518 shares of unrestricted common stock in Taylor Consulting. The shares were to be issued by the company. Robert Wilson, who is the President of Lead Enterprises, spoke about the transaction as well.

He noted that he was eager to take up common stock in Taylor Consulting since he had confidence in the company’s new management and its ability to take care of the business strategies in the future.

The President of Taylor Consulting, Zane Russell, noted that the transaction would help the company in clearing off all the legacy debt that had been holding back its progress over the course of the past years. It left the company with a small and manageable debt which was associated with the acquisition.