The trading week may be coming to a close today, but investors are still going to be on the lookout for stocks that may be worth tracking. There are many stocks that may be worth tracking this morning and one of those could well be the Trinity Resources Inc (OTCMKTS:TRRI) stock.
In order to get a better idea why the stock may be tracked this morning, it is necessary for investors to consider the nature of the company and then take a look at some of the recent developments so as to have a better idea about the situation at Trinity Resources.
Trading Data
On Thursday, TRRI stock ended flat at $0.1550 with more than 3 shares traded, compared to a volume of 470 shares. The stock moved within a range of $0.1550 – 0.1550 after opening trading at $0.1550.
About The Company
Trinity Resources is a mining development and exploration mining company that is focused on precious metals. Some of the metals on which the company is focused are gold, silver, and platinum. The projects that Trinity Resources is involved with are located in both North America and South America.
The company owns significant interests in the Eureka Placer Claim that is located in Eureka Creek in the state of California. In the past, it had been known as TruLan Resources Inc but in September 2015 it changed its name to Trinity Resources. The company is based out of Henderson in the state of Nevada.
Trinity Resources Inc. Finalizes the Purchase of Alzex Biomedical Assets and Intellectual Property
Yesterday, the company was in the news after it announced that it had finally reached the agreement for the acquisition of Alzex Biomedical Assets to go along with all the intellectual property. It marks a new direction for the company considering the fact that Alzex is involved in coming up with a new approach with regards to the treatment of Alzheimer’s disease. The company announced yesterday that a supermajority of shareholders in Alzex Biomedical Group Inc had provided the approval for the same back on June 30, 2022.
Hence, the company went into a binding asset purchase agreement by way of which Alzex is going to get all the assets as well as intellectual property that belong to Alzex Biomedical. The acquisition was completed in a stock-only deal that consisted of 10 million restricted shares in the Trinity Resources Series A Convertible Preferred stock. However, that is not all. Trinity Resources is also going to provide a sum of $150,000 that is going to be distributed within the Alzex team. It is going to be deployed towards the settlement of outstanding liabilities and also help with financing the refilling of patent protection with regards to the intellectual property that has been acquired.
Trinity Resources Inc. Alters Its Share Structure to More Easily Accommodate and Conclude Potential Business Transactions
In this context, it may be a good time for investors to take a look at development from earlier this year in February. Back on February 7, the company announced that it had got approval from the Board of Directors as well as the majority of shareholders for raising the authorized preferred stock in Trinity Resources. It was meant for making it easier for the company to finance its interests in moving into the healthcare sector far more aggressively.
Technical Data
TRRI stock is trading below the 20-Day and 50-Day Moving averages of $0.4673 and $0.4110 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.5565. The company has a total market capitalization of $1.67 million. The stock is down 20% over the past 3 months.
