Numinus Develops Mushroom Tea for Use in Psychedelic ResearchIs the Psychedelic Sector Poised for a Comeback?!?PSYC + Nucleus Form New Partnership to Develop and Launch Psychedelic FinderWhat You Need to Know About Numinus Wellness…Numinus provides update on acquisition integration and announces new client financing optionsPSYC Corp’s Psychedelic Spotlight Surpasses One Million Page Views for Fourth Consecutive MonthNuminus to Participate in the H.C. Wainwright 24th Annual Global Investment Conference on September 12-14, 2022The Psychedelic Sector is Quietly Outperforming the S&P 500PSYC Completes and Publishes 2021 Audited Financials; Will Begin Audit of Q1 & Q2 2022Numinus to Participate in the H.C. Wainwright 24th Annual Global Investment Conference on September 12-14, 2022PSYC’s Bonfire Platform Development Progresses; Will Host Free Virtual Community Event on August 29thThe Psychedelic Sector Has Come Back To Life After A Very Challenging Couple Of YearsBraxia Scientific Enters U.S. Telemedicine Industry; Acquires KetaMD, a Mental Health Platform Providing Beneficial KetaField Trip Health Ltd. Receives Conditional Approval for Listing of Common Shares of Field Trip Health & Wellness LPSYC Has Been Hitting Some Major Company Milestones Over The Last MonthPSYC Corp’s Psychedelic Spotlight Surpasses One Million Page Views for Third Consecutive MonthCognetivity Neurosciences Launches Paid Pilot Project with MS&AD Group CompaniesField Trip Announces First Dosings in Phase I Clinical Study of FT-104PSYC Corporation Has Been Seeing A Favorable Response From The Market Following Several Positives Milestones Being HitNuminus Wellness Is One Of The Bright Spots Of The Psychedelic Sector
Back

PSYC Corporation Has Been Seeing A Favorable Response From The Market Following Several Positives Milestones Being Hit

Jul 25, 2022 • 9:18 AM EDT
3 MIN READ  •  By Anthony Varrell
Share Share - Facebook Share - Twitter

During the last month, we have been closely following PSYC Corporation (OTC Pink: PSYC) as the management team has been reporting a series of positive developments. The market’s response to the announcements has been positive and we are favorable on how the stock has been trending. 

From higher trading volume to improving momentum statistics (as measured by the relative strength index or RSI), we have been favorable on the recent move by PSYC and believe our readers should be aware of the opportunity. 

Last week, PSYC strengthened its balance sheet by consolidating 49 convertible debentures that were issued to RB Capital Partners between January 2019 and December 2021. As part of the agreement, the firm agreed to lower the interest rate on the debentures to 7% from 10% which will reduce the total amount of capital that is owed to the firm. 

During the last quarter, PSYC has reported a series of positive developments and we are of the opinion that RB Capital’s decision to consolidate the convertible debentures indicates that it believes in the future of the business.   

RB Capital is PSYC’s largest debenture holder and we consider the relationship to be one of the most important aspects of the story (especially as it relates to the financial health of PSYC). The agreement shows that RB Capital is willing to help the company manage its debt and we are favorable on this. 

We believe that RB Capital is committed to helping PSYC expand the business and enter new markets. Going forward, we expect the relationship to continue to play an important role in the future of PSYC and will monitor how the relationship evolves as the management team continues to execute on significant growth initiatives. 

PSYC’s management team previously said that the company is highly focused on making accretive acquisitions and strengthening the balance sheet. We believe that agreements like the one with RB Capital will help the management team accomplish its goal and expect to learn more about this strategy in the coming months. 

During the last quarter, PSYC has been highly focused on starting the Form-10 filing process as it plans to up-list onto the OTCQB exchange. We believe this would be an important step forward for the business and will monitor how the management team is able to maximize value for shareholders.

Going forward, PSYC plans to take further action to strengthen the balance sheet while reducing its debt obligations. We believe the strengthening of the balance sheet is one of PSYC’s most important initiatives when it comes to improving growth prospects and will monitor how the management team is able to further execute on this.

If you are interested in learning more about PSYC Corp, please send an email to support@mushroomstocks.com with the subject “PSYC” to be added to our distribution list.

 

 

 

 

 

 

 

 

Pursuant to an agreement between StoneBridge Partners LLC and PSYC Corporation we have been hired for a period of 90 days beginning May 9, 2022 and ending August 9, 2022 to publicly disseminate information about (PSYC) including on the Website and other media including Facebook and Twitter. We are being paid $5,000 per month (PSYC) for or were paid “ZERO” shares of unrestricted or restricted common shares. We plan to sell the “ZERO” shares of (PSYC) that we hold during the time the Website and/or Facebook and Twitter Information recommends that investors or visitors to the website purchase without further notice to you. We may buy or sell additional shares of (PSYC) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information.

Share Share - Facebook Share - Twitter

Tags

Authored By

Anthony Varrell

Anthony Varrell is Managing Director of StoneBridge Partners LLC. SBP continues to drive market awareness for leading firms in the cannabis industry throughout the U.S. and abroad.

Comments

Top Stories

Get the Latest Cannabis News & Stock Picks.

Enter your email below to join the official Mushroomstocks newsletter.

 All good -- no spamming here.

The psychedelics sector is starting to take off as smart money begins to position itself across the industry.

Stay updated with all latest updates,upcoming events & much more.
Subscribe
SUBSCRIBE NOW
close-link