On Tuesday, the CB Scientific Inc (OTCMKTS:CBSC) stock was trading within a range yesterday but that does not mean that it is a stock to be ignored at this point. As it happens, the company was in fact in the news yesterday after it made a major announcement.
Trading Data
On Tuesday, CBSC stock ended flat at $0.22 with more than 4K shares traded, compared to its average volume of 14K shares. The stock moved within a range of $0.2200 – 0.2200 after opening trading at $0.22.
CB Scientific, Inc. Concludes its Annual Audit with MaloneBailey, LLP
The company announced yesterday that the annual audit into tis accounts had finally been completed by the firm MaloneBailey LLP. It should also be noted that the audit had been completed as per the standards set by the Public Company Accounting Oversight Board. After the completion of the audit, MaloneBailey also issued a favourable audit report. The report had been issued on March 14, 2022.
It goes without saying that the completion of the audit was a major new development for the company and it now remains to be seen if it actually leads to any major move for the stock in the coming days. At this point in time, it may be a good idea for investors to consider adding the CB Scientific stock to their watch lists and watch for any green shots. The company noted that it was highly satisfied at the conclusion of the whole process.
Key Quote
“We are extremely satisfied to have achieved this critical milestone in the Company’s concentrated effort to better position CBSC in the pursuit of our planned business objectives, including an uplist to the OTCQB® Venture Market (OTCQB),” said Charles Martin, Chief Executive Officer of CB Scientific, Inc. “Completing a PCAOB audit is one of many stringent requirements stipulated by the OTC MARKETS OTCQB application process, so having already addressed other stated conditions, we anticipate final approval to be forthcoming.”
Technical Data
CBSC stock is trading below the 20-Day and 50-Day Moving averages of $0.2732 and $0.3611 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.3323.
