Resgreen Group International Inc (OTCMKTS:RGGI) Stock Jumps After Shareholder Updates

Among the stock that managed to deliver gains on Thursday, a notable mover was the Resgreen Group International Inc (OTCMKTS:RGGI) stock which ended up with gains of as much as 9%.

The company came into focus after it came up with an update for its shareholders. The company announced yesterday that it had issued as many as 336321369 shares of its unrestricted common stock. Out of those issued shares, as many as 54421369 shares had been issued to certain parties for the purpose of converting debt and also for making payments for services that had been rendered to the company.

Trading Data

On Thursday, RGGI stock jumped 8.59% to $0.0215 with 300 shares, compared to its average volume 155.52 million shares. The stock moved within a range of $0.0215 – 0.0215 after opening trade at $0.0215.

ResGreen Announces Shareholder Updates from Third Quarter 2022

It should be noted that all the issued shares bore a 144 restrictive legend. The rest of the shares had been issued to the Chief Executive Officer of the company Parsh Patel. The shares were issued to the CEO for two reasons.

One of those was the cancellation of 80000 shares of common stock and the other was that because of a corporate action that took place in 2016, Patel had not taken any compensation for his role as the CEO of the company. The company also announced yesterday that the equity transaction are all going to be reported in detail in its quarterly report.

Technical Data

RGGI stock is trading above the 20-Day and 50-Day Moving averages of $0.0206 and $0.0206 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0206.