Where Is The Bottom? Hydro Power Technologies (OTCMKTS:PYBX) Issues Corporate Update

Hydro Power Technologies (OTCMKTS:PYBX) continues to move lower and down almost 75% in just one month. Will the stock rebound?

Market Action

As of 9:40, PYBX stock fell by 15.25% at $0.0250. The stock has traded 105K shares, compared to  its average volume of 192K shares.  The stock opened at $0.030 and moved in a range of $0.0250 – 0.0300.

Major Trigger:

Hydro Power Technologies, Inc. (PYBX) Provides Corporate Update On Its Release of Private Placement Memorandum and Plans for Uplifting Company

Key Highlights:

  • Hydro Power Technology Inc. is releasing a Five Million USD Private Placement Memorandum utilizing its Preferred Series B Shares in order to provide funding for additional development of its Hydro Power turbine hydro generation system; Bioenzyme; Zuc Energy and Italcar investments. The Company anticipates it will complete the funding by October 1st 2021.
  • Hydro Power Technology Inc. will be completing the engagement with an International Accounting Firm to provide a PCAOB Audit in order to file a Form 10 or S1 with the Securities and Exchange Commission and uplift as a fully reporting SEC company versus its current Alternative Reporting Status with OTC Markets.
  • The current management has been in discussion with the British Columbia Securities Commission regarding the 2012 Cease Trade Order and has been advised the Company needs to complete the “fully reporting status” to have the CTO terminated and our Canada shareholders have the ability to acquire or sell their securities. The Company will be providing further updates on the completion of the engagement with the agreed upon PCAOB firm.

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