Glink Arts Global Group Inc. (OTCMKTS:SPBV) is moving in a range after the Nevada-based company submitted a Corporate Action Notice to FINRA for trading sign change and recapitalization. The company was formerly known as Sports {ouch Beverage Company (SPBV).
Trading Data
On Thursday, SPBV stock ended flat at $0.0130 with more than 126K shares, compared to its average volume of 53k shares. The stock has moved within a range of $0.0130 – 0.0130 after opening trade at $0.0120.
Latest News
As per the Corporate Combination Agreement of March 19, 2021, between Glinks Apps International Inc. and SPBV, shareholders of Glink Apps will exchange all outstanding and issued GLINK shared forSPBV common shares after a 500-for-1 reverse share split for the SPBV common shares.
As a result, SPBV changed to “Glink Arts Global Group Inc.” as part of the agreement and now has submitted a Corporate Action Notes for clearance to effect the reverse split and get a new trading ticker symbol. SPBV CEO and Chairman David Chinh Truong stated that they are looking forward to FINRA approval to finalize the symbol change and recapitalization. In addition, Truong said they would leverage the combined company to deliver shareholder value. Therefore, in the coming weeks, investors should keep an eye on SPBV.
Key Quote
David Chinh Truong, Chairman and CEO of SPBV, stated: “We look forward to receiving the approval from FINRA to complete the recapitalization and symbol change and intend to utilize the combined company as a platform to bring it to the next level and create significant benefits for our shareholders in the long term.”
Technical Data
SPBV stock is trading above the 20-Day and 50-Day Moving averages of $0.0126 and $0.0116 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0070.
