KENILWORTH Systems Corp (OTCMKS:KENS) jumped 84%. The company finalized the disposition or acquisition of assets, change of directors, and unregistered share sale.
Market Reaction
On Friday, KENS stock soared 84% to $0.23 with more than 42K shares, compared to its average volume of 18K shares. The stock has moved within a range of $0.1100 – 0.2300 after opening the trade at $1.15.
Recent Buzz
In addition, the company finalized some IP and database assets acquisition from ACL Group Inc. The company paid for the assets using a $300 Million Secured Convertible Promissory Note carrying a 5% per year and convertible to common shares per the Note terms. The company also issued 40 million unissued shares $0.01 per share value and 1 million authorized shares, but unissued Series A prefers stock and 1,000 Series B preferred shares bearing tights and privileges set in the Certificate of Designation.
Also, KENILWORTH issued 20 million Class A Common Share Purchase warrants that will be exercisable at $0.02 per share with an expiry of ten years for the issuance date.Pursuant to the Asset Purchase and Sale Agreement, the company issued 40 million shares of its paved but unissued $0.01 par value shares and 1 million Purchases Shares approved but uninsured. Investors should watch KENS stock.
