Alpine 4 Holdings Inc (OTCMKTS:ALPP) closed higher on Monday but is down in pre market trading Tuesday. Shares are currently trading at 3.26 down 11%
Market Action
On Monday, ALPP jumped 3.50% to close at $3.70. Total volume for the session stood at 637K shares, below its average volume of 1.62 million. The stock opened at $3.46 and moved within a narrow range of $3.3500 -4.0000.
ALPP Issues CEO Q1 Letter
ALPP release news late Monday. Here are the key snapshots:
Alpine 4 Holdings Issues CEO Q1 Letter to Shareholders
- If 2020 was the year of correction and ways to think about business differently, 2021 has been and remains a year of robust opportunities for Alpine 4.
- Our shift began when the Company submitted, in January 2021, a $170 million S3 shelf registration statement with the SEC.
- In Q1, Alpine 4 became a much stronger and more focused Company. The Company raised $54 million in cash with five institutional investment groups, paid down over $14 million in debt, and added another piece to our very important aerospace holdings with the addition of Vayu (US), Inc.
- The Company also held true to its 300 employees by offering 100% paid health benefits, an essential factor in navigating the complex labor market currently residing in the US. Further, management felt it was also more warranted than ever since we were in the midst of a global pandemic.
- Alpine 4 also began several new initiatives to consolidate resources. First, Alpine 4 began consolidating its A4 Construction Services, Inc holdings of Deluxe Sheet Metal (DLX) and Morris Sheet Metal, Corp. (MSM).
- The bright spot of our Q1 financial statements was our Balance Sheet position. Our total assets for Q1 2021 grew at 107.8% over Q1 2020.
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