Nextech Ar Solutions Corp (OTCMKTS:NEXCF) Stock Consolidates After The Recent Fall

Nextech Ar Solutions Corp (OTCMKTS:NEXCF) stock was volatile in the previous trading session after the news. The stock has been under selling pressure over the past few months with a fall of 55% in the past 6-month.

Market Action

In Wednesday’s trading session, NEXCF closed flat at $1.54. More than 89K shares have exchanged hands, above its average volume of 140K shares. The stock opened at $1.58 and moved in a range of $1.5000 – 1.5800.

Nextech AR Announces Auditor Change to Better Align with U.S. Exchange Uplisting Goal

Here are the highlights:

announced that at the Company’s request Marcum LLP (“Marcum”) has been appointed as the Company’s new independent auditor effective today, September 29, 2021. Marcum’s retention follows the resignation of Nextech’s former auditor, DMCL LLP (“DMCL”), at the Company’s request.

There were no modifications of opinion contained in DMCL’s reports on the Company’s annual financial statements for the period commencing at the beginning of the two most recently completed financial years through September 28, 2021. Over the next month, Nextech will complete the change of auditor process in accordance with the requirements of National Instrument 51-102 Continuous Disclosure Obligations (“NI 51-102”) and provide an update to investors once completed.

Key Quote:

“Marcum has over 65 years of experience serving middle market companies like Nextech in the United States and around the world. Further they are a top 20 firm ranked in the USA and #5 Nationally-Ranked SEC Audit Practice” said Evan Gappelberg, Nextech’s Chief Executive Officer. “While we very much appreciate the services provided to us by DMCL, we believe the engagement of U.S.-based Marcum better serves our key goal of listing our stock on a U.S. exchange and better aligns us with Nasdaq-listed technology companies in particular.”

Trader Notes:

NEXCF stock is trading below all the key moving averages with 200-day and 50-Day SMA stands at $2.93 and $1.61 respectively. Over the past year, the stock has lost over 60%. Will the stock be able to find the bottom and recover from the oversold zone?

Jon Williams

Jon graduated from the University of Michigan with a degree in finance. He is an avid investor and enjoys reporting on the markets. When he is not in front of a computer he enjoys playing golf and watching basketball.