NextMart Inc. (OTCMKTS:NXMR) Stock Falls: Appoints Oscar Maldonado As CEO and President
A Delaware-based corporation, NextMart Inc. (OTCMKTS:NXMR) is a public quoted Pink Sheet issuer, which operates under the ticker symbol – NXMR. As of now, it is a shell company, being spearheaded by a new management team. They have plans to become a current alternative reporting issuer with OTC Markets. The company is actively seeking out an appropriate business acquisition.
Market Stats
On Friday, NXMR stock slumped 21.82% to $0.0215 with 18.07 million shares, compared to its average volume of 2.08 million shares. The stock moved within a range of $0.0186 – 0.0300 after opening trading at $0.0275.
NextMart, Inc. Announces New Chief Executive Officer
NextMart, Inc. has announced naming Oscar Maldonado as the new Chief Executive Officer and President of the Company, which came into effect on July 1, 2022. William Bouyea stepped down from his post, which was effective at the end of the third fiscal quarter, June 30, 2022.
Mr. Maldonado previously owned and was the officer of Two Brothers, LLC. It was a specialized oil field service company, acquired as a wholly owned subsidiary by NextMart on June 16, 2022, for 30,000,000 shares of common stock. Prior to that, he worked for Occidental USA for over ten years ending with being the Production Coordinator for the State of New Mexico.
NextMart has relieved Mark McKenzie, the head of business operations, from his duties. Mr. Maldonado has been named as the new head of business operations. The process of consolidating the company’s oil field service address at the new operational location in Carlsbad for Two Brothers Service has begun. It is also working towards unraveling the acquisition of Defender Contracting, LLC, to be completed within the next two business weeks.
Mr. Maldonado has warmly thanked Mr. Bouyea for his valuable service, which includes acquisition negotiation and getting the oil field service division organized and fully operational. He plans to put own his experience working in the State of New Mexico, mainly in the Permian Basin, to good use when it comes to expanding the company’s business strategy. The goal is the development and sale of high-end, specialized oil field services in the Permian Basin. The company wishes to emerge as a key player in this market, which shows great potential, not only in the domestic United States but the world too. He has also stated that with Two Brothers and Emco Oilfield Services being operated out of one main location, it will ensure huge savings in expenses and overhead, while improving management and operational efficiency.
Traders Corner
NXMR stock is trading below the 20-Day and 50-Day Moving averages of $0.0325 and $0.0357 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0455.
