Shares of WeConnect Tech International Inc (OTCMKTS:WECT) ended higher in the previous trading session after the recent fall.
Market Reaction
On Friday, WECT stock gained 4.69% to $0.0513 with 205 shares, compared to its average volume of 35.04K shares. The stock has moved within a range of $0.0513 – 0.0513 after opening trade at $0.0513.
Recent Development
WeConnect Tech International Inc (OTCMKTS:WECT) filed Restated and Amended Certificate of Incorporation with Secretary of State of the State of Nevada, altering name of firm to MOTOS AMERICA INC.
The Amended articles further memorialized a share for 300 reverse share split of preferred and common shares outstanding, which will be effective on December 1, 2021.
The firm on November 21, 2021 commenced process of qualifying with BMW Motorrad North America, Triumph Motorcycles North America as well as Ducati North America for acquisition of three motorsports dealerships in Oregon, USA. In addition, there is also motorsport dealership in Tennessee, USA.
Every component of dealerships services and sells the three motorcycle brands and the firm needs to be qualified by buyer before venturing into binding contracts for acquisition of dealerships.
The firm received indications indications of interest from ownership of fourdealerships leading the company to think they are able to reach terms acceptable to both parties.
Weconnect Tech International does not have many operations. Earlier, it was an IT-solutions provider offering multi-dimensional e-commerce platform, facilitating trade, business and shopping as well as integrating office and online transactions in a single application.
Founded in 2015, the company is located in Puchong, Malaysia and operates as a subsidiary of Moto America, Inc.
