OPTEC International (OPTI) Stock Turns Volatile After The News

If you are looking into stocks that might have recorded gains this past Friday then it might be a good move to take a look at the OPTEC International Inc (OTCMKTS:OPTI) stock.

The company, which is involved with the development of UV and UV-C safety items, released a key update yesterday with regards to the cancellation of 442 million shares of the common stock.

During the due diligence process in relation to the acquisition of We Shield by OPTEC, the accountant of both companies discovered that the Chief Executive Officer Roger Pawson of the latter owned 442,238,951 shares.

However, in reality, Pawson only owns 100094 shares in the company. It was revealed by OPTEC that the residual 442,138,857 shares in the company had actually been canceled and attributed the whole thing to an error. The canceled shares had been returned to the OPTEC treasure last year. It now remains to be seen if this update can lead to further gains in the stock on Monday.