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Tuesday, May 17, 2022

Greenpro Capital Corp. (GRNQ) Stock Steadily Moving Forward, Here’s the Reason

Greenpro Capital Corp. (GRNQ), a company that provides financial consulting and corporate services to small and medium-sized businesses, has gained a nominal increase of 0.016% in aftermarket trading session. As a result, GRNQ is trading at $0.64 at the time of the writing. On Monday, GRNQ closed the day at $0.64 after a slight increase of 0.41% during regular trading hours. The increase has come as a result of the short-term investment into the stock. Let’s have a closer look at recent developments related to GRNQ.

GRNQ Agreement with ISRA

On 21st December, GRNQ announced that it had signed an agreement of engagement with the International Shariah Research Academy (ISRA) for the Islamic Finance development with the establishment of Digital Asset Exchange and NFT marketplace in the ASEAN region. ISRA would play a crucial role in the facilitation of the company’s clients across the ASEAN region to bring the financial model closer to Shariah Compliant standard. Back in August, the company entered into Public-Private Partnership with IHTHS Corporation to set up a Shariah Compliant Digital Finance & Economic Zone.

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Q3 2021 Operational Results

On 10th November, GRNQ released the operational results for the third quarter of the fiscal year 2021. The quarter ended on 30th September. The company generated total revenue of $0.42 million during the quarter against $0.67 million for the same period of 2020. The total operating expenses bore by the company during the quarter were $0.96 million against $0.87 million for the same period of 2020. The net loss suffered by the company during the three months was $6.04 million (or $0.09 per basic and diluted share) against $0.42 million (or $0.01 per basic and diluted share) for the same period of 2020.

Q3 2021 Financial Results

Alongside the operational results, GRNQ also released the financial results of the company. The company had cash and cash equivalents of $6.01 million on the 30th of September 2021. The total current assets in possession of the company on 30th September were $6.95 million, while the total assets on the date were $22.87 million. The total current liabilities on the 30th of September 2021 were $3.48 million, while the total liabilities at the time were $3.52 million.

Future Outlook for GRNQ

During the last month, GRNQ stock has declined more than 26%. Analysts however believe that the stock tends to attract potential investors in the future to come.

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