Probility Media Corp (OTCMKTS:PBYA) Stock Slumps 42% in a Month: But Why?
Probility Media Corp (OTCMKTS:PBYA) stock continues to trend lower in Thursday’s session, extending its monthly fall to about 42%.
Market Action
In the previous trading session, PBYA fell 2% to $0.0116. A total of 49.28 million shares traded for the session hands, below its average volume of 189.71 million shares. The stock opened at $0.0120 and moved in a range of $0.0107 – 0.0122.
Key Trigger
Sept. 21, 2021 – ProBility Media Corp Announces Corporate Updates
The Company continues to confirm that it is in compliance with OTC Markets and SEC rule 15c2-11 by being up to date with its filing obligations.
On August 31, 2021 ProBility closed on its acquisition of Upstryve Inc, a leading resource for tradespeople nationwide. The transaction included the issuance of 692,500,000 shares of restricted common stock to the shareholders of Upstryve. The Company strategically did not affect a reverse split of its common stock in connection with the acquisition and has continued to remain compliant with its SEC reporting obligations.
The Company is also continuing to settle convertible debt in exchange for the issuance of shares. The debt being settled was issued in 2017 and 2018. The settlement of debt has been a previously disclosed as a long term strategy to clean up the Company’s balance sheet.
Key Quote:
“We are proud of our recent accomplishments at the Company. Each and every team member has contributed towards the successful expansion and growth of the company.” Stated Noah Davis, President of ProBility Media Corp. “We have positioned the Company to be a leader in the virtual online learning, tutoring, training and test preparation in the vocational sector, a large untapped industry that has been slow to adopt virtual learning and technology.”
