Why Is Cytta Corp (OTCMKTS:CYCA) Stock Down in a Week?

Cytta Corp (OTCMKTS:CYCA) on September 15, 2022, announced sale and sale and deployment to Dallas/Fort Worth Airport Department of Public Safety, of IGAN 2.0 (Incident Global Area Network) Situational Awareness (SA) as well as Incident Command System (ICS) ecosystem.

Trading Data     

On Thursday, CYCA stock lost 1.67% to $0.1180 with more than 424.74K shares, compared to volume of 197.17K shares. The stock moved within a range of $0.1040 – 0.1240 after opening trade at $0.1200.

Cytta Corp Completes Sale And Deployment Of Newly Released Igan 2.0 To The DFW Airport Department Of Public Safety

DFW DPS is the law enforcement agency protecting and securing one of the most critical superhub airports globally, Dallas Fort Worth International Airport, Texas. The agency selected IGAN 2.0 for providing integrated ICS and situational awareness capabilities, which will ensure the safety of over 73 million customers passing through the airport each year.

Gary Campbell CEO of Cytta said that the company is excited about being chosen for advancing safety and security network. Cytta added that the company will be implementing many functionalities of the revolutionary IGAN 2.0 software ecosystem.

The firm is confident that the technology will find many use cases within DFW DPS’s multiple divisions. The CEO said that he looks forward to working closely with the department and significantly improving security and safety in the area. He further said that DFW DPS will become a template for expansion globally.

The new IGAN 2.0 software ecosystem has unified communications, for real-time shared situational awareness. The company streams all relevant video as well as audio into a single web interface.

Key Quote

Gary Campbell CEO of Cytta stated, “We are excited that the DFW DPS has chosen the IGAN 2.0 to be one of the cornerstones of their advanced safety and security network. Going forward we will be implementing all the myriad functionalities our new and revolutionary IGAN 2.0 software ecosystem provides. Because of the robust nature of our upgraded technology, we are confident that the technology will find as many use cases, within DFW DPS’s multiple divisions as it has with the Dallas Police Department itself.” Mr. Campbell further stated, “We look forward to working closely with DFW DPS and showing how the IGAN 2.0 functionality can significantly improve safety and security in every area. Additionally, DFW DPS will become a reference and a template for expansion into all other similar organizations worldwide.”

Technical Data

CYCA stock is trading below the 20-Day and 50-Day Moving averages of $0.14 and $0.15 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.20. The company has a total market capitalization of $44.60 million.