Cyberlux Corporation (CYBL) Stock Extends Rally: Up 40% in a Week

Leading company providing renewable energy solutions and LED lighting, Cyberlux Corporation (OTCMKTS:CYBL) on July 9, 2021 gave updates on a number of company initiatives.

The firm in June had confirmed gaining OTC Pink Current status and will be filing amendment for reducing Authorized Share level.

Cyberlux has also finalized strategic Authorized Share level with the 20 billion authorised shares reducing to 8.75 billion, lowering by 56.25% overall. The management opines that this would give enough strategic equity for achieving the firm’s growth plans besides protection shareholders.

The firm has recently confirmed on total outstanding shares balance of 5,081,275,578 including 700,000,000 (700 million) phantom restricted shares. The shares were confirmed lost in 2018. Unfortunately, removal of these shares is not possible but it results in improving the equity valuation for shareholders by 16%.

Cyberlux also confirmed on enacting a No Reverse Split Policy preventing it from any reverse stock split for a time of up to 5 years. The firm would be ensuring that the amendment is available to the public and intends to support shareholders.

Mark Schmidt, president and chief executive officer of Cyberlux, said that the company’s strategic growth plan is in shape and will be taking action on its equity structure. Schmidt added that the reduction in Authorised share level will be value addition for shareholders and also giving the firm the power to execute plans.

Market Reaction:

On Friday, CYBL stock soared 33% at $0.0133 with more than 297.98 million shares, compared to its average volume of 148.14 million shares. The stock has moved within a range of $0.0096 – 0.0140 after opening the trade at $0.0096. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0140.