Global Quest Ltd (OTCMKTS:GLBB)
Global Quest Ltd (OTCMKTS:GLBB) is edging higher in the market days after announcing the formation of a new wholly owned subsidiary dubbed Carepoint Nutrients LLC. The newly formed subsidiary’s core mission is distributing proprietary nutrients as part of an effort that seeks to discover new growth opportunities.
Carepoint Proprietary Products
According to the company’s press release, Global Quest Ltd (OTCMKTS:GLBB) nutrients will service the needs of dispensaries as well as consumers. The subsidiary already boasts of a unique line of nutrient supplements that the parent company says continues to attract strong demand from dispensaries. The supplements are designed to offer relief to patients suffering from sleep disorders as well as inflammation.
Global Quest Ltd (OTCMKTS:GLBB) products are currently distributed under the company’s brand name. Patients can buy them directly from the company’s website or from doctors as well as dispensaries. There is also a subscription program whereby patients can sign up to receive direct monthly deliveries.
Global Quest Ltd (OTCMKTS:GLBB) products are made from proprietary patent-pending formulas that use amino acids as well as polyphenols to treat sleeping disorders. The launch of the wholly owned subsidiary could not have come at a better time given the growth opportunities at stake with the proprietary nutrients.
Global Quest Ltd (OTCMKTS:GLBB) is currently working on expanding its line of proprietary nutrients that will see the inclusion of additional formulas.
Separately Global Quest Ltd says Shim Kyoung Hwa, and Shin Dong Hyun, (stockholders) and Teller Financial LLC entered into a stock purchase agreement on April 12, 2017. As part of the agreement Teller purchased 7,000,000 shares at a stock price of $0.001 a share representing about 69.65% of the total issued shares of common stock. Total proceeds from the sale amounted to $7,700 as evidenced by secured promissory notes dated April 12, 2017 and Due on October 12, 2017.
Investors appear to be taking note of Global Quest Ltd (OTCMKTS:GLBB) prospects at the back of the newly formed subsidiary that seems to have opened up new opportunities for growth. The stock is currently trading at highs of $5.25 a share (having soared by more than 100%) and posting a new 52 week high. However, the big question is whether the company will be able to maintain the impressive run while riding on the Carepoint Nutrients news.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
About the author: Monica Gray has an undergraduate degree in Accounting and an MBA – earned with Honors. She has six years of experience in the financial markets and has been a securities analyst for the past two years.