The week kicked off in spectacular fashion for the ProBility Media Group (OTCMKTS:PBYA) stock as it soared by much as 42% following a key announcement from the company. Yesterday the education company announced that its status on the OTC Markets has been changed to penny exempt and that announcement led to an avalanche of interest in the ProBility stock.
It is a significant development since for any company to get that particular status, the company has to satisfy any one of three important conditions. The company’s securities must have a minimum price which is more than $5 a share.
The average revenues of the company must be at least $6 million for three years straight. The third condition dictates that the company should have tangible assets to the tune of more than $2 million. It is a major development for the company considering the sort of struggle it had gone through in recent years owing to the massive debts on its books due to unfortunate events in 2018. However, from 2019 through to 2021, ProBility has made a series of changes in order to get back on its feet and the latest development could be another boost to its prospects.