Two Hands Corporation (OTCMKTS:TWOH) was up 5% on Wednesday after the company announced that it had reduced total liabilities by another 23.05%.
Trading Data
On Wednesday, TWOH stock moved up 4.35% at $0.0024 with more 99.05 million shares, compared to its average volume of 175.26 million shares. The stock has moved within a range of $0.0023 – 0.0027 after opening trade at $0.0024.
Two Hands Corporation Announces Over 23% Debt Reduction
CEO Nadav Elituv said that they are working with debt holders to minimize and do away with liabilities. Elituv said that as the company grows, they plan their future, and in the last few days, Two Hands Corporation has eliminated debt of more than $320,300. The CEO is optimistic that the company will work to minimize its overall obligations in the coming quarters to be an attractive investment for institutional investors going into 2022.
The food distribution company’s focus is on its Gocart City, Cuore Food Service, and Grocery Originals brands which are keen on improving sales. Elituv said a new partnership with a university has ordered around 600 vouchers of $50 for students to get groceries from Gocart.city, which shows the value of the company’s programs. So, in the coming week, investors should keep an eye on TWOH.
Key Quote
“Management continues to work with its debt holders to reduce and eliminate the company’s liabilities. As we continue to grow, we need to plan for our future, over the past few days we have eliminated just over $320,300 of debt.”, commented Nadav Elituv, Chief Executive Officer. “We will continue to work on reducing our overall obligations over the next few quarters in order to become more attractive to institutional investors in 2022.”
Technical Data
TWOH stock is trading below the 20-Day and 50-Day Moving averages of $0.0025 and $0.0027 respectively. However, the stock is below above 200-Day moving average of $0.0030. The stock is down 8% in the past month.
