Bebida Beverage Company (PINK: BBDA), a developer, manufacturer and marketer liquid relaxation products, has seen a sharp rise in its shares in early trading today.
BBDA shares are currently trading 11.11% higher at $0.0010 on above average volume of 106.16 million. The stock has now gained more than 230% in the last three trading sessions.
Bebida Beverage shares have been gaining momentum after the company recently announced that it no longer needs to raise capital in the marketplace.
Commenting on the development, BBDA CEO Brian Weber today said that the company has worked on obtaining private investors to finance its growth for the foreseeable future and to that end, it has now obtained a funding commitment of $4 million to facilitate rapid growth of its products.
Weber said that as a result of the funding commitment, and rising revenue and profit at the organic level, BBDA feels it is time to end marketplace capitalization through sale of its common stock.
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