NightFood Holdings Inc (OTCMKTS:NGTF) Stock Continues to Trend in a Narrow After The Recent News
NightFood Holdings Inc (OTCMKTS:NGTF) stock was in focus as the stock ended lower on Wednesday after the recent consolidation.
Market Action
In the previous trading session, NGTF fell 2.45% to $0.2390. A total of 326K shares traded for the session hands, well above its average volume of 181K shares. The stock opened at $0.2480 and moved in a range of $0.2351 – 0.2600.
Key Trigger
NIGHTFOOD HOLDINGS, INC. : Unregistered Sale of Equity Securities, Financial Statements and Exhibits (form 8-K)
Between July 1, 2021 and September 29, 2021, Nightfood Holdings, Inc. (the “Company”), issued an aggregate of 3,365,000 shares of the Company’s common stock upon the conversion of 3,365 outstanding shares of its Series B Convertible Preferred Stock (the “Preferred Stock”) in accordance with their terms.
In addition, pursuant to the terms of the Preferred Stock, upon such conversions, the Company issued common stock purchase warrants exercisable for an aggregate of 3,365,000 shares of common stock at a strike price of $0.30 per share, subject to the terms thereof. The issuances of such shares and the warrants were exempt from registration by reason of Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), as transactions by an issuer not involving a public offering and/or Section 3(a)(9) of the Securities Act as securities exchanged by the issuer with its existing security holders exclusively where no commission or other remuneration is paid or given directly or indirectly for soliciting such exchange.
Between June 30, 2021 and August 5, 2021, the Company issued an aggregate of 1,268,519 shares of its common stock to consultants as consideration for services received. The issuance of such shares was exempt from registration by reason of Section 4(a)(2) of the Securities Act, as transactions by an issuer not involving a public offering.
Trader Notes:
NGTF stock has done exceptionally well with a jump of 190% so far this year, but down 10% in the past 3-month. On the technical basis, the stock is trading near its 50-day and 20-Day SMA stand at $0.24 and $0.24 respectively. Moreover, RSI at 36 signals that the stock is trading near the oversold zone.