David Owens, President medical (Tawas:) Officer Nexalin technology Inc. (NASDAQ:), reported the purchase of common stock worth a total of $7,700. The timing is notable because the stock has seen significant volatility, falling 18% in the past week despite an impressive 607% gain over the past year. The transactions took place on January 13 and January 23, with Owens receiving a total of 3,000 shares. The shares were purchased at prices ranging from $2.50 to $2.70 per share, below the current trading price of $2.72. Following these acquisitions, Owens directly owns 152,293 shares in the company's market capitalization of $33.4 million. These transactions highlight Owens' continued investment in the company, which maintains a fair financial health score according to InvestingProwhich offers 11 additional investment insights for this stock.
In other recent news, Nexalin Technology, Inc. Complying with NASDAQ's minimum bid price requirements, a major milestone according to Mark White, the company's CEO. This development enhances investor visibility as Nexalin continues its clinical research and global regulatory approvals. The company also successfully met NASDAQ's shareholder stock requirements following a public offering that raised approximately $5.25 million.
In board-related news, five directors were elected at the recent annual stockholders' meeting, which also saw Marcum LLP certified as a registered public accounting firm for the upcoming fiscal year. However, the company announced the departure of Michael Neke, senior vice president of clinical, quality and regulatory affairs.
In the world of product development, Nexalin has been making strides with its Gen-2 15 Milliamp Neurostimulator, which recently received approval in Oman and China. These are the latest developments in Nexalin Technology's ongoing operations. The Company undertakes no obligation to update these forward-looking statements after the date of the press release, except as legally required.
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