$EKNL also recently released 2 MEGA updates that not only prompted us to upgrade our research report and price targets, but catapult EKNL to ‘record’ levels. CLICK HERE FOR THE UPGRADED REPORT
With the reduction in authorized shares amount limit to 75 Million, EKNL will be buying back shares in the open market with proceeds received from their FREMS technology!
EKO International Corp. – Reduction of number of authorized common sharesPR Newswire(Mon 10:01AM EDT)
“Upon the achievement of a positive income statement and the repayment of its liabilities, the Company intends to initiate a program to buy-back common shares on the open market.”
This is insane, the only reason to buy back shares is of course to move prices up, but the underlying reason would be to get uplisted to the NASDAQ or NYSE board!
This was confirmed when the company announced they have initiated the process for uplisting and announces the selection of MaloneBailey LLP, Certified Public Accounting Firm for appointment as auditors of the Company.
“The Company is in the process of retaining an in-house accountant and qualified auditors for the purpose of upgrading the Company’s tier on the OTC Markets as the next step toward providing investors with the “highest financial standards and superior information availability” – OTC Markets”
Even better, the company also confirmed sufficient cash flow to meet financial needs – that’s a HUGE step forward for the company
The Company believes that cash flow from sales this quarter will be sufficient to meet its current financial needs and will be sufficient to finance its marketing expansion.
This is exactly what we have seen with our other medical monster alert Life Advantage (LFVN) after filing their Audited statement were approved and uplisted to the NASDAQ board trading well over the $3 mark from just pennies.
