Published On: Tue, Aug 30th, 2016

Arcis Resources Corp (OTCMKTS:ARCS) Plans To Up-List

Arcis Resources Corp (OTCMKTS:ARCS) has gained $0.0004 since it announced its plans to up-list to the OTCQX. The company is currently trading at OTCPINK and has been marked as an alternative reporting stock. ARCS has announced that it is evaluating the costs and benefits associated with having the stock up-listed, but it is still open to considering other options as well.

In addition to this, the company CEO, Raul Santos, that he has officially retired a total of 70 million of his restricted common shares, which leaves just 450 million restricted shares in his possession. Moreover, Arcis revealed that it has no plans to conduct a reverse stock split, at the moment. Earlier the company had also announced its plans to launch hemp infused body lotion and energy drink, to be sold through its website, in August. However, as the end of the year approaches, there still has not been any update on the products as yet.

Arcis had stated that the two products will contain hemp infused seed oil. The company noted that fatty acids from the hemp seed oil tend to provide a number of health benefits, including protection against cancer, heart disease and auto-immune diseases. Moreover, the plant is used in a number of products, both industrial and commercial.

The company is yet to report its financial results for the 2Q2016, but it should be noted that its 1Q2016 had not been very encouraging. Arcis had sales revenue of $695 and total expenses of over $22,000, during its 1Q2016. As such, the company had a net loss of $21,700 for the quarter. ARCS also had a cash position of $1,206, at the end of March 31, 2016. It should be noted here that since the end of the 2Q2016, the company has acquired

Arcis Resources Corp (OTCMKTS:ARCS) closed at a share price of $0.0006, at the end of the August 29 trading session, 20% higher than the day before. The stock had a trade volume of 64.57 million.

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