Real American Capital Corporation (OTCMKTS:RLAB) was up 14% after announcing the departure of Dean Konstantine as Board member and CEO of the company.
Trading Data
On Thursday, RLAB stock moved up 14% to $0.0410 with more than 48k shares, compared to its average volume of 8K shares. The stock moved within a range of $0.0401 – 0.0650 after opening trade at $0.0650.
Real American Capital Announces Management Changes for 2022
Also, Ted Frowd, Konstantine’s associate, left the company on January 1, 2022. Jon Dougal will take over CEO duties together with Julian Decierdo, who is currently serving as co-CEO and sole directors on an interim basis. Doug Newton, the creative director and founder who has accepted to work with the company’s newly established Strategic Review Board, will work alongside Dougal and Decierdo to assist in the transition.
Newton said the Review Board’s first goal would be identifying optimum ways of generating revenues and growing net profits. He said one product they are looking to establish this year is the carbon-capturing, organic, soil re-conditioning plant food, Resurgent. Resurgent is the brainchild of Jon Dougal, a long-time sustainability and environmentalist guru. Also, the board will review JV opportunities in value-added agriculture, product licenses, and water conservation. Therefore in the coming weeks, investors should keep an eye on RLAB.
Key Quote
“One product we hope to successfully establish in 2022 is RLAB’s organic, carbon-capturing, soil re-conditioning plant food, Resurgent®, the brain-child of long-time environmentalist and sustainability guru, Jon Dougal, going back to the days when Jon was a founding member of the Clinton Committee on the Environment in 1997.
Technical Data
RLAB stock is trading below the 20-Day and 50-Day Moving averages of $0.0430 and $0.0514 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0805.
