Indo Global Exchanges (OTC: IGEX) Eliminates $5 Million Worth of Debt
Debt elimination is almost always seen as a major positive by investors, and it is going to be interesting to see if the announcement from Indo Global Exchanges Pte Ltd (OTC: IGEX) yesterday brings the stock into focus or not. The company announced yesterday that it had filed a disclosure pertaining to the debt elimination to the tune of $5 million.
Major Announcement
In the news release yesterday, the company announced that on March 4, 2025, it had filed a Form 8-K with the United States Securities and Exchange Commission and disclosed debt elimination to the tune of $5 million. In the disclosure, Indo Global Exchanges Pte Ltd revealed that it had inked a strategic agreement pertaining to the elimination of the debt.
Further Information
However, more importantly, the company also stated that the transaction also led to a significant strengthening of its financial position. Indo Global Exchanges also stated that the move to eliminate the debt was also in alignment with the long-term growth strategy that it had put in place. The European Institute for Entrepreneurship and the company’s Chief Executive Officer, Antonio Sainz, funded the debt elimination program in its entirety.
CEO Quote
“This agreement marks a pivotal moment for IGEX as we take decisive steps to strengthen our balance sheet and drive long-term value creation,” said Antonio Sainz, CEO of IGEX. “Our commitment to financial sustainability, combined with our strategic investments, reinforces our vision for growth in the sustainable marine resources sector.”
Technicals
| +/- EMA(20) | 0.0009 (+11.11%) |
| +/- SMA(50) | 0.0008 (+25.00%) |
| +/- SMA(200) | 0.0006 (+66.67%) |
| 5-Day Perf. | – |
| 1-Month Perf. | +42.86% |
| 3-Month Perf. | +66.67% |
| 6-Month Perf. | +150% |
| YTD Perf. | +66.67% |
| 1-Year Perf. | +11.11% |
| RSI(14) | 57.84 |
| ATR(14) | – |
| ADX(14) | 51.29 |
| Beta (5Y) | -8.19 |
