ISW Holdings (OTCMKTS:ISWH) continues to move higher and up almost 55% in just one week. Will the rally continue?
Market Action
As of 9:59, ISWH stock jumped by 11.25% at $0.4450. The stock has traded 174K shares, compared to its average volume of 822K shares. The stock opened at $0.4105 and moved in a range of $0.3810 – 0.4479.
Major Trigger:
ISW Holdings Corporate Update: GPL Convertibles Settled, Mining Underway, Form 10 and Uplist Update
Key Highlights:
- provided its current and prospective shareholders with an update on the status of its convertible debt resolution process, mining operations and upcoming audit results.
- Convertible Debt: In early April 2021, the Company announced that it had signed an agreement with GPL Ventures (“GPL”) to eliminate over $2.4 million in convertible promissory notes. That agreement covered all convertible debt held by GPL and represented more than 92% of the Company’s outstanding convertible debt obligations. Now, the Company further announces that the settlement agreement, and all of its stipulations, has been satisfied, with its payment wired to GPL. All related notes have been stamped “paid.”
- Mining: The Company has begun mining. Management expects to catch up to the larger objectives laid out for mining progress and results in 2021, with its projects in Pennsylvania and Georgia getting up and running at reputable hash rates, which should drive strong topline growth for ISW Holdings this year. The Company continues to target a carbon-neutral mining paradigm.
- Audit, SEC, and Uplist: The Company plans to complete an audit of its 2020 performance over the near term. Once that is complete, management will file Form 10 with the U. S. Securities and Exchange Commission (the “SEC”). Management believes the filing of Form 10, and filing future events with the SEC, will help strengthen the case for further uplisting of shares following its establishment on the OTCQB tier.
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