HUMBL Inc. (OTCMKTS:HMBL) Terminates Agreement for Acquiring Agora Digital Holdings, Inc

HUMBL Inc. (OTCMKTS:HMBL) on September 17, 2022, has announced terminating the Securities Exchange Agreement previously announced on August 11, 2022, for HUMBL to acquire Ecoark’s approximately 89% owned subsidiary, Agora Digital Holdings, Inc.

Trading Data

On Friday, HMBL stock decreased 5.84% to $0.0371 with more than 6.26 million shares, compared to its average volume of 8.66 million shares. The stock moved within a range of $0.0371 – 0.0399 after opening trade at $0.0399.

HUMBL Terminates Agreement to Acquire Agora Digital Holdings, Inc.

According to the original terms of the Securities Exchange Agreement, Ecoark and the remaining owners of Agora Digital were to receive $60,000,000 in a new class of HUMBL preferred stock in consideration of selling their interests in Agora Digital to HUMBL. Both parties are unable to reach an agreement on crucial terms required to close, so have decided to mutually terminate the Securities Exchange Agreement. HUMBL continues to search for suitable merger and acquisition candidates, having acquired four companies since June 2021.

HUMBL, Inc., on August 10, 2022, announced about be launching a personalized, 3D brand metaverse store called “House of Hayes” with Major League Baseball (MLB) player Ke’Bryan Hayes of the Pittsburgh Pirates and his father, Charlie Hayes, who played 14 years in the big leagues and won the 1996 World Series as a member of the New York Yankees.

It will be in collaboration with the Ballengee Group which represents a number of MLB players including Alek Manoah, Jordan Lyles, James McCann, David Fletcher, and more. The brand store metaverse environment will initially be available on desktop across modern browser types, as well as interactive headsets.

Technical Data

HMBL stock is trading below the 20-Day and 50-Day Moving averages of $0.0467 and $0.0626 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.15.