GreenBank Capital Inc (OTCMKTS:GRNBF) Stock Rockets 28% In a Week: What’s The Buzz?

GreenBank Capital Inc (OTCMKTS:GRNBF) has released its biweekly report per the Management Cease Trade Orders (MCTO). The company still hasn’t filed an audited yearly financial statement.

Market Stats

On Monday, GRNBF stock fell 1.82% to $0.4110 with more than 6.8k, compared to its average volume of 53.3K shares. The stock has moved within a range of $0.4110 – 0.5139 after opening trading at $0.4522.

GreenBank Capital Provides Update on MCTO

The Ontario Securities Commission granted GreenBank’s request for an MCTO against the CFO and CEOof the company because of the financial statements. Fortunately, shareholders who aren’t company insiders will still trade securities. The company could file its first-quarter earning and annual filings by January 31, 2022.

The company delayed the filings to find a third party to evaluate the valuation and accounting for assets and investments and ensure compliance with regulations. For this reason, GreenBank has found an IFRS expert to analyze its assets.

As per National Policy 12-203, the company has stated that there are no changes to the press release on the MCTO. In addition, all relevant information on the MCTO application is in the SEDAR press release.

Greenland has also reported that it has not failed to commit to its intentions to fulfill the requirements in the Alternative Information Guidelines. Furthermore, the company has provided all relevant information on its affairs.

Traders Corner

GRNBF stock is trading above the 20-Day and 50-Day Moving averages of $0.37 and $0.40 respectively. However, the stock is trading below the 200-Day moving average of $0.66.