There has been no news about the company in recent times but the Cyberlux Corporation (OTCMKTS:CYBL) stock has seen a fair bit of action nonetheless. This past Friday, the stock suffered from a bit of a selloff and declined by 6.50%.
However, at the same time, it should not be forgotten that over the course of the past month the Cyberlux stock has actually clocked gains of as much as 60%. While there has been no news recently, it might be a good idea to take a look at a letter from the company to its shareholders back on July 30, 2021.
The company noted that July was a particularly busy month and it managed to work on a variety of initiatives through the course of the month. One of the more important accomplishments for the company last month was related to the reduction of number of authorised shares to 8.75 billion from as much as 20 billion.
It reflected a reduction of as much as 56%. It was an important move from the company since Cyberlux believes that it will give it the flexibility to move forward with its growth strategy while protecting the stock against dilution.