RS Technologies Inc. (TSE:RS), (PINK:RSSYF) stock was again accelerated on the next in row piece of news on the company’s convertible debentures.
Yesterday, the shares of RS Technologies Inc. surged 50% up.
The volume traded was more than 13.75 million shares and was the highest for the past decade, excluding the 14.70 million shares that changed hands in September when RS stock lost 16.67% of its value.
Two weeks ago, the securities of RS Technologies Inc. almost collapsed, hitting a new 52-week low at $0.01 per share.
These days, RS share price rushed up, on the company’s releases about the restructuring of its debt into ownership capital and respectively the accelerated maturity of the debt.
Maybe in order to get mentally adjusted to the huge number of shares that will result from that debt conversion, investors’ bids were colossal as measured with the number of trades and with the share price fluctuation.
Since the beginning of the month, with almost equalized upward and downward price jumps, RS stock makes attempts to escape from the deep bottom.[BANNER]
Even the management made substantive input into the revitalization of RS Technologies Inc.
In order to guarantee the company’s survival until the end of the month, the directors of RS have advanced an aggregate of $900 K. By this time, RS plans to secure additional funding to continue as a going concern by the end of this year.
And, by that time RS should also show that it meets all requirements for continued listing on the Toronto Stock Exchange.
