Luxxfolio Holdings Inc (OTCMKTS:LUXFF) Stock is Moving Towards New High: Here is the Latest News
Luxxfolio Holdings Inc (OTCMKTS:LUXFF) stock continues to trend higher after the news this morning. Moreover, the stock has gained almost 30% over the past month.
Market Action
As of 11:56, LUXFF stock is trading higher by 9% at $0.4740. More than 116K shares have exchanged hands, compared to its average volume of 151k shares. The stock opened at $0.44 and moved in a range of $0.4400 – 0.4780.
LUXXFOLIO Achieves 90% Month over Month Increase in Mining PH/s Performance
Mining Overview (as at or for the month of September 2021):
All 600 miners from swap agreement announced on NR Sept. 20, 2021 have been received;
Mine site operating 1,025 miners at approximately 95 PH/s (Aug. 31, 2021 = 590 miners at 50 PH/s);
An additional 265 miners received with installation in process;
Total monthly rewards of 13.90 Bitcoin for approximate revenues of CAD$800,000 (Aug. 2021 = CAD$625,609);
Bitcoin reserve of 33.91 Bitcoin (Aug. 31, 2021 = 27.07).
In addition, total Ethereum produced by Blackcloud for the month of September 2021 was 10.47 for total revenues of CAD$46,068. These revenues will be earned retroactively following the close of the Blackcloud transaction, which is expected in October 2021.
Change of Auditors
The Company also wishes to announce that it has appointed the Kenway, Mack, Slusarchuk, Stewart LLP (the “Successor Auditor”) as its independent registered public accounting firm, effective September 24, 2021, until the next annual meeting of the Company. The Successor Auditor was appointed following the resignation of Smythe LLP (the “Former Auditor”) as the Company’s independent registered public accounting firm, effective September 23, 2012.
The appointment of the Successor Auditor and resignation of the Former Auditor has been approved by the Company’s audit committee and board of directors. There were no modified opinions in the Former Auditor’s reports in connection with the Company’s fiscal years ended August 31, 2019, and August 31, 2020. There are no “reportable events” (as that term is defined in National Instrument 51-102 Continuous Disclosure Obligations) between the Company and the Former Auditor.
The Notice of Change of Auditor, together with the requisite letters from the Former Auditor and the Successor Auditor, have been filed on SEDAR.
Options Issuance
On October 3, 2021, the Company granted stock options to an employee of the Company to purchase an aggregate of 125,000 common shares in the capital of the Company. The stock options are exercisable for a term of five years from the date of the grant at an exercise price of 55 cents per common share. The stock options were granted in accordance with the terms of the Company’s stock option plan and the policies of the CSE. The stock options will vest over a 24-month period and are subject to a four-month-and-one-day hold period from the date of the grant, in accordance with applicable securities laws.
Trader Notes:
LUXFF stock has underperformed recently with a fall of over 60% in the past 6-month. On the technical basis, the stock is trading below its 50-day and 200-Day SMA stand at $0.60 and $0.99 respectively. Moreover, RSI at 36 signals that the stock is trading near the neutral zone.
