On Monday, there was not a lot of action in the Castellum Inc (OTCMKTS:ONOV) stock and it remained within a range even though the company was in the news.
Market Action
On Monday, ONOV stock ended flat at $0.19 with 7K shares, compared to its average volume of 21K shares. The stock moved within a range of $0.1801 – 0.1900 after opening trade at $0.1850.
Castellum, Inc. Announces $950,000 New Revolving Credit Facility from Live Oak Bank
The company announced yesterday that it had managed to get a revolving accounts receivable based credit facility worth as much as $950,000 from the Live Oak Bank. It goes without saying that the development was a significant one and could have a long term effect on the company’s business. The President and Chief Executive Officer of the company Mark Fuller spoke about the development as well.
He noted that everyone at Castellum were pleased at having finally tied up the credit facility. He went on to add that the facility was going to give the company much more flexibility in terms of financial capabilities and would help the company in closing some of the minor acquisitions.
That, in turn, is going to help the company with their uplisting plans and also help with many other projects that Castellum may get involved in over the course of the coming months. At this point in time, it may be a good idea for investors to keep an eye on the stock.
Key Quote
“We are pleased to have finalized this revolving credit facility with Live Oak,” said Mark Fuller, President and CEO of Castellum. “It gives us greater financial flexibility for closing small acquisitions, supporting our planned up-listing, or other projects which add value to the Company.”
Traders Note
ONOV stock is trading below the 20-Day and 50-Day Moving averages of $0.19 and $0.20. Moreover, the stock is trading is the neutral zone with RSI stands at 47.
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