volume jumped over 11 million shares.According to the records, over the past days CIST has been moving up progressively, until yesterday when the high trade was broken.
The last news about Cityside came up this week, reporting that Grass Roots Research and Distribution Inc. has completed the financial report of CIST. It included “supportive targets for the company’s stock” and positive outlooks for MMA industry.
Yesterday, Cityside also published details about the Cage Wars Championship’s latest thrill show ‘Validation’, set for December 10 in Belfast. However, despite the positive updates about the company the stock price moved down.[BANNER]
Causeway Entertainment is focused on capitalizing the constantly growing Mixed Martial Arts (MMA) sports industry. In September this year, CIST acquired 100% of Cage Wars Championship Ltd. and agreed to increase its capital structure to have authorized capital of 2 billion shares of common stock, 20 million shares of preferred stock and to change the name of the corporation from Cityside Tickets, Inc. to Causeway Entertainment Co. Along with the new acquisition, the company’s management team was changed.
According to its financial report, as of Nov 2 CIST had over 144.86 million shares of common stock issued and outstanding. By end-June, the company’s liabilities have increased by approximately $333 thousand, while its assets total only $89.
The working capital deficit exceeded $32 million and CIST has no revenues to cover the losses. In May, Cityside recognized a gain of approximately $105 thousand from discontinued operations which reduced its net loss, however, the money won’t be sufficient to cover the company’s deficit.
Looks like the only thing left for traders is to keep their eyes wide-open for the future movement of CIST stock.
