Oceansix Future Paths Ltd (OTCMKTS:AKMYF) Stock Takes a Hit After Corporate Update
In August last year Oceansix Future Paths Ltd (OTCMKTS:AKMYF) had announced that the company along with three of its major shareholders had gone into a letter of undertaking to provide financial support. The financial support was going to be provided through a credit facility worth 2 million Euros.
Trading Data
On Friday, AKMYF stock ended flat at $0.0125 with more than 1 million shares, compared to its average volume of 2.04K shares. The stock moved within a range of $ 0.0125 – 0.0125 after opening trade at $0.0125.
Oceansix Future Paths Ltd. Provides Corporate Update
On Friday the company announced that it had managed to get a sum of 305000 Euros from the aforementioned credit facility. The facility had been provided by the company insiders and is being regarded as a ‘related party transaction’ as per the provisions of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions.
It was also noted that the company was also looking for formal exemptions on the basis of the above mentioned rule for special transactions. Oceansix Future Paths is a global company involved in the sustainable solutions and waste to product inventions spaces. The company has consistently been able to combine advanced technology with sustainable production processes.
The company operates on a circular model by way of which the products are developed from waste and the revenues are deployed for working on revolutionary ideas for more products. It remains to be seen if the stock gets any attention today.
