ProBility Media Corp (OTCMKTS:PBYA) up 19% in a week. The company has settled part of its convertible debt and appointed major new corporate officers to its management. As part of the balance sheet restructuring efforts, the company settled around $0.5 million of its restricted common stock convertible debt.
Noteholders indicated that they are pleased with the company’s recent strides in becoming current with OTC Markets. ProBility President Noah Davis said they are pleased to clean their balance sheet and add Upstryve to the ProBility family without affecting the reverse split.
The company had earlier announced Upstryve Inc.’s acquisition in an all-stock deal. Following the transaction, the company plans a name change to Upstryve Inc., with all ProBility subsidiaries rebranding under the Upstryve platform, serving constituents of the model probability. Additionally, the transaction involves the issuance of 692.5 million restricted common stock shares to Upsstryve shareholders. Following this acquisition, PBYA is worth keeping an eye on.
Market Reaction:
On Thursday, PBYA stock increased 4% at $0.0076 with more than 117 million shares, compared to its average volume of 177.59 million shares. The stock has moved within a range of $0.0069 – 0.0080 after opening the trade at $0.0079.
