Astika Holdings Inc (OTCMKTS:ASKH) Stock Gains Momentum: Here is Why

One of the companies which could come on to the radars of investors this morning is Astika Holdings Inc (OTCMKTS:ASKH) which was in focus among investors on Thursday and its stock ended up with gains of as much as 5% for the day.

Trading Data

On Thursday, ASKH stock jumped 5.56% to $0.0380 with more than 60K shares, compared to its average volume of 59.58K shares. The stock moved within a range of $0.0380 – 0.0380 after opening trading at $0.0380.

Astika Holdings, Inc Issues Shares to Lower Debt and Pay Contractors

The company came into the news cycle yesterday after it announced that it had managed to remove as much as $575000 in the form of debt from its balance sheet through the issuance of new stock. It could be a good idea for investors to perhaps take a closer look at the development. The company announced that it used as many as 2000 Preferred A shares each to Ralph Wilmott and Mark Richards, both officers in Astika, for the purpose of retiring $200000 in debt.

In addition to that, the two same officers were issued with as many as 8000 Preferred E convertible shares for the purpose of retiring $40000 in debt that had been owed to each individual. On the other hand, fees and accrued interest to the tune of $95000 that had been owed to consultants CK Dragon Trust and Artfield Investments RD Inc were also retired through negotiations.