This morning there are a number of companies which may come on to the radars of investors and one of those could well be Alkame Holdings Inc (OTCMKTS:ALKM). The company has been in the news in recent times and some of the development may well make it a stock that is worth looking into for investors.
At the end of the day, investors need to follow the news with regards to several companies before making an investment decision and Alkame is a company that may require attention. In order to accomplish that, it is important for investors to consider taking a look at the nature of the company’s business and also into fresh developments which may have a bearing on the stock.
Trading Data
On Wednesday, ALKM stock ended flat at $0.0006 with more than 7.98 million shares, compared to its average volume of 19.62 million shares. The stock moved within a range of $0.0006 – 0.0007 after opening trade at $0.0007.
About The Company
Alkame Holdings operates in the form of a diversified holding company which is involved in a wide range of businesses. The company operates through a number of subsidiaries and is involved in diverse businesses starting from water technology to food and beverage development to co-packing and CBD and hemp.
In addition to that, Alkame Holdings is almost always on the lookout for suitable acquisition targets from among a range of consumer brands that may chime with its mission. At this point in time, the company is involved in the building of a strong foundation through the acquisition of appropriate business assets. In addition to that, it is also looking march into emerging businesses like consumer bottled water and household pet products among others.
Alkame in Negotiations with largest debtholder to convert $800,000 line of credit to Preferred Stock
The company had come into the news cycle on Wednesday after it made a major announcement with regards to its continuous efforts to further boost its balance sheet. It is looking to accomplish this through the reduction as well as elimination of existing debts. Such a move is going to help in boosting both the shareholder as well as equity value. It would also help Alkame in reducing future share count.
Not too long ago, the company had announced that it had been successful in cancelling as much as $200,000 of its debts. Yesterday, the company announced that it was locked in negotiations with its largest shareholder for the conversion of debts to the tune of as much as $800,000. It was part of the $1 million line of credit and Alkame had drawn down as much as $800,000. The company announced yesterday that it was aiming to cancel the $800,000 worth of debt and turning that into the preferred stock in Alkame.
It was a major new announcement from the company and one that could bring the stock into focus among investors in a big way. Any potential reduction in debt can often prove to be a source of major optimism for investors and it is going to be interesting to see if the Alkame stock can manage to gain traction among investors over the course of the coming days. It may be a good idea for investors to add the stock to their watch lists at this point in time and watch for further developments.
Technical Data
ALKM stock is trading below the 20-Day and 50-Day Moving averages of $0.0005 and $0.0006 respectively. However, the stock is trading above the 200-Day moving average of $0.0008. The company has a total market capitalization of $3.3 million. The stock is up 3% over the past month.
