After breaking from its silence, the stock price of Compass Biotechnologies, Inc. (OTCMKTS:COBI) jumped 20% yesterday and closed at $0.00060. The gains came at a share volume of 43 million compared to average share volume of 27.36 million. After the recent gain, the market cap of Compass stands at $315,216.

The buzz

There have been no recent updates from Compass Biotechnologies in last one month. In last week of March, the company reported that Steven Smith will serve as its interim President as they closes acquisition deal of EFS Audio. Smith’s in-depth knowledge and extensive experience of the music industry will be main factor to the success and execution of the EFS Audio business plan.

Compass Biotechnologies reported that Smith’s has extensive experience being a studio engineer, music producer, musician, DJ, and it extends into segments like traditional audio equipment, live event production and digital audio programming. Smith plans to focus on Industry specific advertising/marketing to expand the Motion Sound product line coverage through artist and event sponsorships.

On his new role with Compass, Smith expressed that he will be working in coordination with EFS sales team and product engineers on the launch of new and current product developments.

The updates

A couple of months ago, Compass Technologies reported that they have received numerous inquiries pertaining to the past dilution. Talking on matter, the company said that a five year old conversion blocked in the earlier business got cleared without their being notified when company was acquired current.

They have received confirmation that it had been closed and they are now free of this toxic debt. Going forward, the company will continue to deploy every non-dilutive and non-toxic way to meet financial obligations in the future which is beneficial for both the firm and its valued Shareholders.