There has been no news about Plyzer Technologies (OTCMKTS:PLYZ) in recent days but the company’s stock was on the move on Thursday and ended the day with gains of as much as 25%. In this context it might be a good move for investors to perhaps look into a development from earlier on in the month.
Back on August 3 the company announced that it awaiting information with regards to Plyzer Spain SL, a company that is currently controlled by the Canada based YYZBCN financing group. In this context, it might be a good idea for investors to perhaps take a closer look at the nature of the relationship between Plyzer Spain SL and YYZBCN.
According to the announcement relating to a previous agreement between the two parties, YYZBCN controls as much as 82% of Plyzer Spain SL and that came about by virtue of the $2 million worth of financing that it had provided Plyzer Spain SL.
On the other hand, it is perhaps also necessary to point out that the agreement also revealed that YYZBCN also had a stake of 18% in Plyzer Technologies. However, at the same time, Plyzer Technologies also noted that Plyzer Spain is going to need more financial backing if it was to continue with its operations.