Shares of NTG Clarity Networks Inc(OTCMKTS:NYWKF) have been moving within a narrow range over the past few trading sessions.
Market Reaction
On Thursday, NYWKF stock ended flat at $0.0307 with more than 3K shares, compared to its average volume of 3.4K shares. The stock has moved within a range of $0.0307 – 0.0307 after opening trade at $0.00307239.
NTG Clarity Receives a Second PO Valued at $1.35M CAD
Canadian company delivering networking, IT, and network-enabled application software solutions to network service providers and large enterprises, NTG Clarity Networks Inc(OTCMKTS:NYWKF) announced third-quarter results for the period ending September 30, 2021.
The company confirmed being on road to profitability with the fifth straight quarter of robust results. While its net income was $237,671, making 2021 a total of $947,211, its gross margins for the quarter were 43%. (All figures are in Canadian dollars).
The company had confirmed the intention of beginning board-approved Shares for Debt transactions earlier and had closed transactions of 40,000,000 shares reducing outstanding payables/loans by $2,000,000.
It also introduced a cloud-based suite of digital tools for Telecom operators, NTGapps Digital Toolbox while also announcing a Letter of Intent for purchasing NTG’s Asset Management, Network Discovery, Discrepancy, and Reconciliation software, the value of which is estimated to be about $4.5 million.
Kristine Lewis, NTG Clarity’s President said that having received the second purchase order, the company will commence implementation of its software products for the new customers in the Middle East. Lewis added that the five-year project confirms trust that customers place in its services and products.
Furthermore, the project also demonstrates the competitiveness of the NTG products as the sale of products contributes significantly to the bottom line.
Traders Review
NYWKF stock is trading below the 20-Day and 50-Day Moving averages of $0.0364 and $0.0401 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0481.
