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William Henry Gray, CEO of Wytec International Inc. (OTC:WYTC), recently made several stock purchases, according to a Form 4 filing with the Securities and Exchange Commission. The transactions, spanning from November 12, 2024, to January 10, 2025, involved the acquisition of common shares totaling $2,808. The prices for these purchases ranged from $0.92 to $2.00 per share, coming at a time when the stock has experienced significant volatility, trading between $0.60 and $4.25 over the past 52 weeks. InvestingPro data shows the company's shares have declined nearly 28% over the past six months.
Gray's transactions included multiple acquisitions over this period, contributing to a total ownership of 3,202,347 shares in the company. These moves reflect a continued investment in Wytec International, a company engaged in telegraph and other message communications. According to InvestingPro analysis, the company faces financial challenges with a weak overall health score and declining revenues (-49.83% year-over-year). Subscribers can access 8 additional ProTips and comprehensive financial metrics to better understand the company's position.
In other recent news, Wytec International, a Nevada-based company, has amended its agreement with director Christopher Stuart to extend the maturity date of a $625,000 unsecured promissory note, as reported in an 8-K filing with the Securities and Exchange Commission. This adjustment also includes the extension of several series of common stock purchase warrants owned by Mr. Stuart, now set to expire on December 31, 2025. The company's latest financials reveal a challenging situation, with an EBITDA of -$4.53 million and revenue of $0.14 million in the past year. This restructuring step represents a change to the rights of security holders, affecting the terms under which the warrants can be exercised and the note repaid. These recent developments are part of Wytec's ongoing financial management and are disclosed in compliance with regulatory requirements.
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