EVIO Inc (OTCMKTS:EVIO) Stock In Focus On Debt Restructuring of Leaf Detective Note
If a company makes an announcement with regards to the restructuring and settlement of some of its debts, it is almost always seen as a major positive by investors. Hence, it may be a good time to perhaps take a look at the EVIO Inc (OTCMKTS:EVIO) stock today.
Trading Data
On Friday, EVIO stock ended flat at $0.0001 with 192.75 million shares, compared to volume of 217.49 million shares. The stock moved within a range of $0.0000 – 0.0002 after opening trade at $0.0001.
EVIO, Inc. Successfully Completes Debt Restructuring of Leaf Detective Note
The company announced last week on November 3 that it had been successful in restructuring some of its debts and also settled its outstanding debt to the tune of around $596,000 for $205,000. However, that is not all. The company also announced yesterday that it was going to work on a cost cutting strategy over the course of the coming year so as to turn profitable in the near future.
That being said, EVIO also noted that the strategy in question is going to involved a number of steps and updates with regards to those steps were going to be issued over the course of the coming months. The debt restructuring that was affected by the company was the first step in a series of steps that are going to be involved in the cost reduction initiative that had been put in place. It may be a good idea to add the EVIO stock to your watch lists this week.
Key Quote
“We’re actively pursuing initiatives to reduce both expenses and debt,” said EVIO CEO, William Waldrop. “This settlement is a crucial step in the process of cleaning up EVIO’s Balance Sheet and optimizing Cash Flows in order to better position the Company to raise capital, continue executing our fundamental strategy, and provide the necessary scale to fuel the growth we believe we’re capable of achieving.”
Technical Data
EVIO stock is trading below the 20-Day and 50-Day Moving averages of $0.0001 and $0.0001 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0001.
