Eline Entertainment Group Inc. (OTCMKTS:EEGI) fell 21% with no news release. Recently the company announced that it is in the course of becoming OTC Marketplace compliant. A new CEO Josh Egelston is already in place with access to OTCIQ, allowing the company to file compliance filings and remove pink status from EEGI.
Egelston said that the company is making progress to become current and make relevant acquisitions in the entertainment company. He noted that EEGI’s objective is leveraging the resources and strength of various companies ushering in the latest and transformative entertainment.
Early this year, the company offered updates regarding the company’s operation, including introducing a new subsidiary, Innovation Investment Group. New CEO at the time, Ms. Hong Wei said that the new subsidiary runs a range of educational Training Centres in China. She explained that the Training Centres are in high demand across China and they meet set international education requirements. With the company working to become current, EEGI is worth watching in the coming days.
Market Reaction:
On Friday, EEGI stock fell 21% at $0.0026 with more than 644.77 million shares, compared to its average volume of 251.31 million shares. The stock has moved within a range of $0.0025 – 0.0037 after opening the trade at $0.0033.
