OPTEC International (OTCMKTS:OPTI) Stock Soars After The News

Shares of OPTEC International (OTCMKTS:OPTI) closed sharply higher in Wednesday’s trading session.

Trading Data

On Wednesday, OPTI stock soared 25.33% at $0.0139 with more than 37.36 million shares, compared to its average volume of 18.70 million shares. The stock has moved within a range of $0.0110 – 0.0143 after opening the trade at $0.0111.

Optec International Inc OTC Markets Status

OPTEC International (OTCMKTS:OPTI) had just filed their 10K Annual Report. All filing requirements have been met, including designated time frame and submission of all relevant support documents for the period ending June 30, 2021, to remain in “Pink Current” status on OTC Markets.

Earlier this week, OTC Markets reduced the status to “Yield”, emphasizing that the report should have been filed as quarterly, instead of annual or semi-annual. The confusion was due to the OTC Markets upload options for that period. It was for a semi-annual report, and not an annual one, where the filing format was correctly prepared as an annual report for Period ending 6-30-2021.

In early 2021, the OPTEC made changes to the fiscal year end period from June to December effective December 31st, 2021. As per the SEC guidelines, the company has to file the pre-December annual report for 6-30-201(the previous fiscal year end) and then the new annual for period ending 12-31-2021 due March 2022.

The company has been in touch with OTC Markets, to find out what is required to clarify the filing requirements and assist on OTC IQ (Upload Portal). As of now, the matter is under review, with further communication still pending on behalf of the OTC Markets. The company has also been marked as “Dark or Defunct”, on the OTC website, even though filings and disclosures are available on their website. A further update is awaited!

Technical Data

OPTI stock is trading below the 20-Day and 50-Day Moving averages of $0.0185 and $0.0295 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0947. The stock is down 79% so far this year.