Elvictor Group Inc. (OTCMKTS: ELVG) fell 17% after announcing foray into the Ship Management sector through its Republic of the Marshall Islands-based wholly-owned subsidiary, Ultra Ship management Inc.
Trading Data
On Wednesday, ELVG stock fell 17% at $0.0290 with more than 864K shares, compared to its average volume of 117k shares. The stock has moved within a range of $0.0210 – 0.0390 after opening the trade at $0.0350.
Elvictor Announces Expansion into Ship Management
Already Ultra has been awarded a DNV approved Interim Document of Compliance issued under the authority given by the Republic of the Marshall Islands Government. Equally, Elvictor has expanded its SaaS platform for the Ship Management operations with the inclusion of operations management commercial and technical support.
CEO Konstantinos Galanakis said that the company has strategically worked to position the company as a leading ship and crew management firm leveraging disruptive and tech-driven SaaS platforms over the past year. Konstantinos added that the company’s recent strategic steps to establish a subsidiary alongside the necessary certifications and approvals to add ship management to Elvictor operation and tech enhancements are just the starts of the company’s expansion plans. Going into 2022, the company will continue laying the foundation to expand its capabilities. So, in the coming weeks, ELVG is worth watching.
Key Quote
Konstantinos Galanakis, CEO of Elvictor Group stated, “Over the last year we have worked strategically to position Elvictor to become a leading crew and ship management company utilizing a disruptive and technology driven SaaS platform. Our recent strategic steps in forming a new subsidiary, along with the required approvals and certifications for adding ship management, coupled with our technology enhancements, is just the beginning of our expansion plans. As we enter the year 2022 we continue to lay the groundwork to dramatically expand Elvictor’s capabilities, services, and reach in our efforts to continue to disrupt and change the status quo in the shipping industry of the future.”
