Renavotio, Inc. (OTCMKTS:RIII) continues to move higher in the morning on Monday. Will the stock continue to move up?
As of 10:59, RIII stock jumped 9% at $0.0720. The stock has traded 1.40 million shares, compared to its average volume of 730k shares. The stock opened at $0.0660 and moved in a range of $0.0660 – 0.0770.
Renavotio Provides Financial and Operational Updates
- Billy Robinson, Renavotio’s Chief Executive Officer, commented, “I’m proud to report that we have paid off over $900,000 year to date in both short-term and variable-rate convertible debt using restricted equity, with approximately $300,000 of variable-rate convertible debt currently outstanding. We are planning to eliminate the remainder of this debt by the end of August 2021 in structured monthly payments.
- Moving from this debt to a restricted equity investment was necessary to protect our investors and shareholders with a structure that allows the Company to better control the timing, dilution, and pricing as we continue to finance the business and our planned growth opportunities.”
- “As Renavotio enters its next phase in its planned expansion, we are pleased to have engaged a leading investment bank to provide us with strategic advisory and investment banking services. We believe that this relationship will help expedite our growth plans and allow us to thoughtfully navigate and close the incoming deal flow.
- In addition, our goal is to up-list to a national securities exchange to enhance our visibility in the marketplace, increase the liquidity of our stock, and build long-term shareholder value.”
- “We are also happy to see the possible progress being made should the Biden administration’s Infrastructure Bill come to a final agreement. This would signal investments in much-needed infrastructure for communities across the U.S. We are optimistic that increased funding could flow to the states we operate in at some point over the next 12 to 24 months, which will help fuel our organic growth initiatives. At the same time, as the competitive landscape takes shape in these states, we anticipate considerable acquisition opportunities of accretive business targets.”