Egpi Firecreek Inc. (OTCMKTS:EFIR) fell 33% without any news. However, recently, the company announced the completion of its preparation for filing its current uplisting with the OTC Markets to OTC pink current.
So fall necessary documentation, including necessary legal opinion and financial statement, are ready and required fees paid per the OTC Markets requirements. Once the OTCIQ system approves the filing, itwill be uploaded immediately, and the uplisting is anticipated in the coming days. Also, the company restructured its business profile on the OTCIQ platform ahead of the OTC Pink Sheet status.
Also, the company has announced that its existing liability debts of almost $5.89 million have qualified the Statue of limitation and will be barred from any conversion or collection activities, including all prior allotted convertible notes. Among the liabilities, $2.877 of the debt has already been canceled permanently and is now removed from the company’s balance sheet as per the April 2, 2021 agreements and will reflect in the this year’s financial statement. Following these developments, investors should keep an eye on EFIR.
Market Reaction:
On Friday, EFIR stock fell 33% at $0.0004 with more than 295.77 million shares, compared to its average volume of 142.35 million shares. The stock has moved within a range of $0.0003 – 0.0006 after opening the trade at $0.0006.
