Black Bird Biotech Inc (OTCMKTS: BBBT) recently announced that it had repaid roughly $220,000 in remaining indebtedness. The company’s move aims at protecting shareholders from potentially significant market overhangs attributable to low-market conversion prices.
BBB’s President, Fabian Deneault, said that they took on these convertible obligations so they can use them as a bridge that allows them to achieve significant milestones. Now, he says, that they’re moving forward with their goal of being a debt-free company by the end of this year.
Black Bird Biotech Inc intends on exploiting specific market segments using powerful and re-imagined biotechnology products. MiteXstream, its EPA-registered bio-pesticide, eliminates mites and other similar pests. It also can help get rid of mildews and molds. Furthermore, even though MiteXstream is a pesticide, it’s not poisonous. It’s what’s known as a re-imagined pesticide. You can use this product throughout the harvest without having to worry about residual “pesticide” violations. MiteXstream is like the company’s flagship product and BBBT believes it has massive global potential.
Market Reaction:
On Tuesday, BBBT stock gained 3% at $0.0175 with more than 8.49 million shares, compared to its average volume of 3.11 million shares. The stock has moved within a range of $0.0167 – 0.0229 after opening the trade at $0.0190.
