Home Financial Markets Penny Stocks This Is What Drove Stock of American International Holdings Corp. (AMIH) Higher

This Is What Drove Stock of American International Holdings Corp. (AMIH) Higher

Shares of American International Holdings Corp. (OTCQB: AMIH) surmounted 7.94% to $0.2990 at the previous close. Volume on the day was 280.29K against the 30-day Average Volume of 529.50K. The stock price ranged between $0.0630 and $0.7500 during the last 52-week period.

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An overview of the company’s strategies:

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American International Holdings Corp. is a diversified holding company. In the course of business, it focuses on several segments including:

  • The company acquires, manages, and operates companies and brands in the U.S. and around the world in the areas of health, wellness, infrastructure, technology, and business management.
  • It provides customers with access to life and career coaches through its online platform LifeGuru, Inc.
  • The company makes use of its ZipDoctor, Inc. platform which connects customers to licensed physicians and mental health counselors through online telemedicine.
  • In order to maximize shareholder value, AMIH seeks to acquire and grow companies that possess strong brand values as well as free cash flow and attractive returns over the long-term.

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Recent Developments:

On Monday, the company disclosed that it had entered into a stock purchasing agreement with two institutional investors for the purchase of up to $1,450,000 in Secured Promissory Notes.

  • Under the SPA, the investors, upon closing, purchased $850,000 from the Company and agreed to consider purchasing the remaining $600,000 if the Company file a registration statement by the time it closes and if certain equity conditions and specifications are further stipulated within the SPA.
  • It is expected that the investment will allow the company to further leverage its online telemedicine platform, www.ZipDoctor.co, to acquire new customers, change marketing approaches and invest in additional technologies, products and services.
  • All prior convertible notes will be eliminated from the balance sheet with a portion of proceeds being used to pay them back.

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