3 OTC Stocks Heading To NASDAQ: NaturalShrimp, Inc. (SHMP), Gourmet Provisions International Corporation (GMPR), American Battery Metals Corporation (AMBL)
The Stock Day Podcast welcomed NaturalShrimp, Inc. (OTCQB: SHMP), a publicly traded aquaculture Company, headquartered in Dallas with production facilities located near San Antonio, Texas and Webster City, Iowa. CEO of the Company, Gerald Easterling, joined Stock Day host, Everett Jolly.
“Where are we at in the process of uplisting to the NASDAQ?” asked Jolly. “We are targeting that within the next 60 days we should be uplisted. The reason that we delayed it a little bit is because we got the capital on the front end to be able to fund these acquisitions and get the technologies acquired prior to our uplisting.”
Earlier this year, Gourmet Provisions International Corporation (OTC: GMPR) took steps to strengthen its balance sheet to accelerate growth. In February, GMPR announced executing Lock-Up agreements with their noteholders. These agreements limit each noteholder to convert a total of only eight million common shares until August 31, 2021. That’s a significant agreement that is beneficial to shareholders, the company, and the Noteholders.
It’s especially good because it removes a conversion feature that may have kept a lid on the stock. Moreover, the deal provides Gourmet Provisions the time needed to audit financials, make its S-1 filing, sign an underwriter, and best of all to create the value required to qualify for its planned uplisting to the NASDAQ stock exchange.
Investors also cheered the Authorized Share reduction from 3 billion to 300 million. Today, GMPR has only about 75 million shares issued and outstanding. That relatively low share count could help drive valuations higher using peer-based revenue multiple models.
American Battery Metals Corporation (OTCQB: AMBL), an American-owned lithium-ion battery recycling technology and advanced extraction company with extensive mineral resources in Nevada, which is in the process of changing its name to American Battery Technology Company, recently announced that it has submitted a formal application to list its common shares on the Nasdaq Stock Market (“NASDAQ”).
“We believe listing our common stock on the NASDAQ will improve liquidity, increase our corporate visibility in the financial markets, and create shareholder value,” said Doug Cole, Chairman and CEO of American Battery Metals Corporation. “We believe that listing on the NASDAQ is a natural progression for the Company and our shareholders.”
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