Argentum 47 (OTCMKTS:ARGQ) Stock Falls: Company Acquires The Data Source (UK) Limited

Argentum 47 (OTCMKTS: ARGQ) fell 11% after the company indicated that it had purchased an AI-focused sales and marketing company, Data Source UK. 

Market Stats

On Monday, ARGQ stock fell 11.11% to $0.0080 with 13.55 million shares, compared to its average volume of 8.02 million shares. The stock moved within a range of $0.0076 – 0.0095 after opening trading at $0.0090.

Argentum 47 Inc. Acquires 100% of United Kingdom Based The Data Source (UK) Limited

The company bought a 100% stake in Data Source through management surrendering personal right, interest and title in 40 million Argentum Series B preferred shares, around 4.4 million series preferred shares and 21.5 million Argentum’s common shares.  Interestingly, Series B preferred shares and Series C preferred stock plus the common shares comprise 51% of Argentum’s voting stake.  Post-closing, more ARGQ shares shall be issued to stockholders of ARGQ.

Data Source anticipates receiving 600 new clients throughout this year and into next year, most of which are from its current client base and from firms it will purchase.  The firm expects to quadruple its revenue streams, followed by a steady organic growth rate from 2023.  Before closing the deal, Nicholas Tuke stepped down as ARGQ’s president, secretary, and CEO before closing the deal, with Peter Smith quitting as ARGQ’s sole director.  So ARGQ is worth watching.

Traders Corner

ARGQ stock is trading above the 20-Day and 50-Day Moving averages of $0.0076 and $0.0062 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0058.