Eline Entertainment Group Inc. (OTCMKTS: EEGI) fell 21% without a press release. Recently, the company announced that it is in the process of complying with OTC Marketplace. A new CEO, Josh Egelston, is already in place with access to the OTCIQ, allowing the company to file compliance statements and remove the pink status from the EEGI.
Egelston said the company is making progress in becoming current and making relevant acquisitions in the entertainment business. He noted that EEGI’s goal is to leverage the resources and strength of various companies ushering in the newest and most transformative entertainment.
Earlier this year, the company offered updates regarding the operation of the business, including the introduction of a new subsidiary, Innovation Investment Group. New CEO at the time, Ms. Hong Wei said the new subsidiary operates a range of teacher training centers in China. She explained that the training centers are in great demand across China and meet international education requirements. As the company strives to become current, EEGI deserves to be watched in the coming days.
On Friday, EEGI stock fell 21% to $ 0.0026 with more than 644.77 million shares, from its average volume of 251.31 million shares. The stock traded in a range of $ 0.0025 to $ 0.0037 after the trade opened at $ 0.0033.