Ubiquitech Software Corp (OTCMKTS:UBQU) Stock Jumps After Announcing Debt Settlement Agreement

Shares of Ubiquitech Software Corp (OTCMKTS:UBQU) closed sharply higher in the previous after announcing a key debt settlement agreement.

Trading Data

On Tuesday, UBQU stock jumped 14.30% at $0.0004 with more than 117.42 million shares, compared to its average volume of 223.13 million shares. The stock has moved within a range of $0.0003 – 0.0004 after opening trade at $0.0004.

Signs Debt Settlement Agreement and Adds Investor Relations Representative to its Team

CannazALL, operating subsidiary of Ubiquitech Software Corp (OTCMKTS:UBQU), in keeping with its news release of November 15, 2021, announced the name of their new Investor Relations representative – Ms. Preya Narain.

Being an experienced microcap consultant based in New York, she will make a valuable addition to the staff, with communication between the shareholders and company to improve significantly. She is an active day-trader and has founded Preya Co. in 2020 with a group of high-performing professionals, which is a consulting team with over twenty years combined experience in OTC, OTCQB/QX, foreign and NASDAQ markets. Presently, it acts as a Corporate Advisor, Investor Relations Manager, and Social Media Manager for several publicly traded organizations. It also conducts forensic research and complies detailed due diligence reports for issuers and shareholders.

In other news, Ubiquitech Software through its CannazALL announced on November 23, 2021, about entering into an agreement with its biggest noteholder, regarding the retirement of all outstanding convertible debentures currently held by them. As per the terms, the noteholder won’t convert any of the outstanding notes into shares of common stock of the company. These notes are to be retired in several increments over the course of the next 12 months. CEO James Ballas states that this is a major step forward for the company when it comes to growth of business in the upcoming years.

Key Quote

CEO James Ballas said “This represents a large step forward for the Company. We expect to continue moving the Company forward from both a capital structure standpoint, and equally as important, continuing to re-ignite the growth of the business by executing our plans for 2022 and beyond”

Technical Data

UBQU stock is below the 20-Day and 50-Day Moving averages of $0.0005 and $0.0005 respectively. Moreover, the stock is below the 200-Day moving average of $0.0006. The stock is down 33% in the past 3-month.