In general, the announcement of the financial results from a company leads to some sort of action in its stock but that did not happen with the Ketamin eOne Capital Limited (OTCMKTS:KONEF) stock on Monday.
Trading Data
On Monday, KONEF stock ended flat at $0.3469 with 1 share, compared to its average volume of 751K shares. The stock has moved within a range of $0.3469 – 0.3469 after opening trade at $0.3469.
Reports Audited Financial Results for the 2021 Fiscal Year
Yesterday, the company announced its audited financial results for the 2021 fiscal year but it did not lead to much action in the stock and it traded in a range. However, it may still be a good idea for investors to take a look at the financial results and make up their minds about the stock one way or another.
The company is involved in the consolidation of medical health treatment clinics and eventually seeks to become the leader in the mental health space in the North American market. In the fiscal year that had ended on July 31, 2021 KetamineOne Capital managed to bring in revenues of $1,131,171 and that was a major improvement from $0 in revenues in the prior year period.
In addition to that, it is also necessary to keep in mind that KetamineOne Capital also managed to bring in gross profits to the tune of $0.7 million in the fiscal year. There had been no gross profits in the prior year period.
Key Quote
“The 2021 fiscal year was our first as a public issuer and, therefore, was a transformative one as the Company went public, rebranded to Ketamine One, became a single-purpose entity and completed multiple acquisitions. We have accomplished a great deal this year to build a strong foundation as one of the top mental health and digital therapeutic platforms in North America,” said Adam Deffett, Interim CEO of Ketamine One.
Technical Data
KONEF stock is trading above the 20-Day and 50-Day Moving averages of $0.32 and $0.32 respectively. However, the stock is trading below the 200-Day moving average of $0.87. The stock is down 6% in the past month.
